Winner: McDonald’s price hikes boost sales
More than 85% of Americans visit McDonald's at least once a year.
McDonald’s reported earnings and revenue that beat expectations as price hikes offset falling traffic.
Despite higher menu prices in some regions, executives said that the burger chain is still beating rivals across most of its biggest markets when it comes to consumers’ perception of value and affordability.
Revenue: $6.69 billion
Income of $2.32 billion.
McDonald’s gained market share with middle- and high-income consumers, signaling that those diners are trading down from more expensive options.
McDonald’s prices in California will rise further next year as the minimum wage for fast-food workers rises to $20 an hour.
There is roughly one McDonald's restaurant per 24,000 people in the US.
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