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.
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