U.S. sales at restaurants open at least a year rose 13.6% in the January-March period
The bounce back for McDonald’s as restrictions were lifted across the U.S. was so strong in the first quarter that the company surpassed sales during the same period even in 2019, long before the pandemic broadsided the country. McDonald’s revenue jumped 9% to $5.1 billion for the January-March period, better than most had expected. Last year at this time stores were closing globally as the world sheltered from spiking COVID-19 infections, so an improvement in sales during the same stretch this year was expected. How easily it topped 2019’s first-quarter sales of $4.95 billion, however, was not. U.S. same-store sales, or sales at locations open at least a year, rose 13.6% in the January-March period. Fewer diners visited, and many dining rooms remain closed. But those who did visit ordered more, with many picking up food for the entire family rather than for one person. A new round of federal stimulus checks likely boosted first quarter sales, said McDonald’s U.S. President Joe Erlinger said. New products, including a long-awaited crispy chicken sandwich and spicy nuggets, also outperformed, he said. “The positivity we saw in the first quarter was way beyond just the stimulus checks,” Erlinger said during a conference call Thursday with investors.
