WHAT’S BEING CLAIMED:
- McDonald’s famous ‘BTS’ meal and the new crispy chicken sandwich have driven the sales surge of the fast-food giant.
- The company’s profit increase was also attributed to their menu upsizing and price increase.
- The BTS meal was launched in over 50 nations and has sparked a frenzy among the million fans of the K-pop boy band.
McDonald’s Corp global sales have climbed up on Wednesday, surpassing Wall Street targets amid the reopening of restaurants.
The fast food giant’s new crispy chicken sandwich and ‘BTS meal’ inspired by the well-renowned South Korean pop band have largely contributed to the profit gains.
Same-store sales surged up to nearly 41 percent in the second quarter, surpassing the same pre-pandemic period in 2019 as well as the first two quarters of that year and of 2020.
Fast-food chains have generally endured the overwhelming effect of the lockdowns and other restrictions in connection with the pandemic. The demand was fueled by drive-thrus, targeted pricing, and focus on flagship products.
Aside from their latest menu additions, McDonald’s sales increase in the US was pushed by menu upsizing and price increase. The move was able to go against the shortage of manpower and increased cost of ingredients.
According to the IBES data from Refinitiv, analysts were anticipating the US sales to reach up to nearly 24 percent.
From April to June 30 revenues, the profits grew at around 57 percent with a $5.89 billion value.
Compared to the previous year, sales have soared up to 26 percent. And when compared to 2019, sales growth reached almost 15 percent.
Last year, the company recorded a 30 percent dip amid the COVID-19 lockdowns. The company’s net income grew over four times to $2.22 billion. The stock value also increased to $2.37 per share, versus the expected $2.11 per share forecast.
“The BTS Meal drove visits to our restaurants and significant lifts in Chicken McNuggets sales — one of our core menu items,” McDonald’s said.
The BTS meal, which is composed of chicken McNuggets, fries and two dips, was launched in almost 50 countries across the globe.
The meal has caused much excitement and frenzy to the delight of the huge fan base. In fact, some of the fast food chain’s branches, like in Indonesia, were forced to shut down due to the influx of customers ordering the famous meal.