McDonald’s CEO Steve Easterbrook announced a rebound in quarterly sales a situation that saw McDonald’s Corp shares hit an all-time high. Easterbrook announced that the global sales were much higher than what had been projected and further stated that the trend is likely to remain positive in the current quarter. The increase in global sales comes after six consecutive flat or falling results in the past.
McDonalds which is the world’s largest restaurant chain business saw its shares jump by more than 8% to trade at $110.88. CEO Steve Easterbrook said that the increase was a reflection that the restaurant chain was in the right path of recovery and that he was confident that the same will be replicated in the future. The positive results at McDonalds were buoyed by China’s sales that were previously on a sharp decline after a food safety scandal in late 2014. This time round, China’s McDonalds sales were up by 26.8% perhaps the highest growth figure ever recorded by the restaurant chain.
The chain’s sales in the United Kingdom, Canada and Australia were also on a positive trajectory further contributing to the stocks increase. McDonald has in the past made several changes in its business operations including tweaking menus, improving services and focusing on inexpensive food. This is part of the growth strategy adopted by Easterbrook who is only eight months as the CEO of the restaurant chain.