McDonald’s had great plans for the future
Q3 2020 proved to be
an overall productive one for one of the largest fast-food chains in the world
– McDonald’s.
In the past quarter, the company had an EPS of $2.22, which
topped the $1.90 forecasted. The revenue also came above expectations at $5.42
billion.
After the success of its collaboration with the American
rapper Travis Scott increased the American same-store sales by 4.6%, McDonald’s
is considering working with other celebrities and also a change of menu to add
more chicken products.
In the future, McDonald’s is looking
to increase the quarterly dividend by 3% to $1.29 per share. Moreover, it plans
to reach its target of 950 new restaurants opened. Four hundred out of the total will be in
China, while the rest will be in France, the UK, and the US.
After the news hit the wire, McDonald’s stock price went up
5%.
Sources: cnbc.com
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