McDonald’s (MCD) “Dollar Menu” may be biting the dust, but that doesn’t mean they don’t still serve the cheapest grub around. So if Whole Foods (WFMI) is cratering, it’s no surprise MCD is doing just fine. People have to eat somewhere.
Same-store sales in July for McDonald’s rose all around:
- 6.7% in the US (45% of sales)
- 7.6% in Europe
- 7.2% in the Asia/Pacific, Middle East and Africa division
- double-digit growth in Latin America
- 8% globally
MCD credited cash-strapped consumers cutting back, $1 coffees, and a successful Big Mac marketing campaign for the sales increases in the US.
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