McDonald's posted better-than-expected sales in the second quarter as dining rooms reopened and new products like the Crispy Chicken Sandwich and a BTS meal collaboration drew customers.
Revenue jumped 57 per cent to nearly $5.9 billion in the April-June period. That beat Wall Street's forecast of $5.6 billion, according to analysts polled by FactSet.
Global same-store sales, or sales at locations open at least a year, rose 40.5 per cent from the same period a year ago. It was an easy comparison; the second quarter of 2020 was the low point of the pandemic for McDonald's, when lockdowns shuttered stores and sales plunged 30 per cent.
But even compared with 2019, a year before the pandemic hit the US, same-store sales were up 7 per cent.
The Chicago burger giant had a net income of $2.2 billion (Rs 1,63,47,21,00,000) for the second quarter. Adjusted for one-time items, the company earned $2.37 per share. That was well above the $2.11 that Wall Street had forecast.
This was a result of its collaboration with K-pop boy band BTS in April 2021.
The meal comprised of 10 pieces of chicken McNuggets, medium fries, medium Coke and (in a first for the US), sweet chilli and Cajun dip. The sauces were inspired by recipes from McDonald's restaurants in South Korea.
BTS -- the full name is Bangtan Sonyeondan (meaning Bulletproof Boy Scouts) or Beyond The Scene, their English branding -- is one of the most popular all-male groups in the world courtesy hit songs, like "Boy in Luv", "ON", "Dope", "Black Swan", and their Grammy-nominated "Dynamite", which was their first full-fledged English track.
The band -- comprises of RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook.
Recently, the South Korean President Moon Jae-in appointed the Grammy-nominated music group as the 'Special Presidential Envoy for Future Generations and Culture', carrying forward their work in "spreading hope and positive energy" through music.
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