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McDonald’s 1Q global same-store sales rise 5.5%

McDonald’s 1Q global same-store sales rise 5.5%

Same-store sales climb 2.9% in the U.S.

McDonald's Corp. reported same-store sales growth in the first quarter ended March 31, driven by increased foot traffic.

“More customers are recognizing that we are becoming a better McDonald's, appreciating our great-tasting food, fast and friendly service, and compelling value as we execute our Velocity Growth Plan,” McDonald’s CEO Steve Easterbrook said in a statement.

Easterbrook is scheduled to address investors in a conference call on Monday morning.

McDonald's posted a 5.5-percent increase in global same-store sales during the quarter. Global comparable guest counts rose 0.8 percent.

In the U.S., same-store sales grew 2.9 percent. The increase was driven by “growth in average check resulting from menu-price increases and product-mix shifts,” the company said.

Net income beat Wall Street expectations. McDonald’s posted profit of $1.4 billion, or $1.72 per share, compared with $1.2 billion, or $1.47 per share, the previous year.

Revenue of $5.1 billion fell 9 percent during the quarter, tied to McDonald’s strategic refranchising initiative, the company said.

Contact Nancy Luna at [email protected] 

Follow her on Twitter: @FastFoodMaven

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