McDonald's Sales Jump, but Traffic Still Lags
McDonald's (NYSE: MCD) investments in technology finally began paying off in the second quarter, as the fast-food chain reported global sales were their highest in seven years and comparable-store sales were at a four-year peak. But all the money being spent to upgrade its restaurants and improve the speed and quality of order fulfillment still isn't bringing customers into its stores.
CFO Kevin Ozan told analysts on the earnings conference call that traffic was still negative in the second quarter, though slightly less than it had been in the first, as it benefited from the calendar shift of the Easter holiday into the current period. Ozan said that "returning to guest count growth in the U.S. remains a top priority in the street fight for market share."
Improvements to McDonald's mobile technology, including delivery, helped boost sales in Q2. Image source: McDonald's.
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