July 28, 2021, 9:57 a.m. EDT

McDonald's Out with Quarterly Figures, Shares Dwindle

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Jul 28, 2021 (Baystreet.ca via COMTEX) -- McDonald's /zigman2/quotes/203508018/composite MCD -1.26% on Wednesday reported that the chain's Crispy Chicken Sandwich helped U.S. same-store sales outpace 2019 levels by double digits.

The fast-food giant reported fiscal second-quarter net income of $2.22 billion, or $2.95 per share, up from $483.8 million, or 65 cents per share, a year earlier.

Excluding strategic gains and U.K. income tax benefits, McDonald's earned $2.37 per share, beating the $2.11 per share expected by analysts.

Net sales rose 57% to $5.89 billion, topping expectations of $5.6 billion. Global same-store sales jumped 40.5% from a year ago and 6.9% on a two-year basis.

U.S. same-store sales climbed 25.9% in the quarter and 14.9% on a two-year basis. The company credited strong sales of its new chicken sandwich, which launched in February, and its "famous orders" promotion with K-pop group BTS, which includes an order of McNuggets and special sauces.

Outside the U.S., McDonald's has seen a strong recovery in many regions. Its international operated markets segment, which includes the United Kingdom and France, reported same-store sales growth of 75.1% compared with a year ago, or 2.6% on a two-year basis.

McDonald's said that easing restrictions and fewer temporary closures helped sales for that segment.

Across McDonald's six top markets, the company has reported roughly $8 billion in system-wide digital sales during the first half of the year. As the fast-food chain looks to hold onto the digital sales it gained during the pandemic, it launched a U.S. loyalty program in early July. So far, more than 12 million consumers have joined the program.

MCD shares fell $5.41, or 2.2%, to $240.94. in early Wednesday trading.


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$ 239.72
-3.05 -1.26%
Volume: 3.04M
Oct. 20, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$181.30 billion
Rev. per Employee

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