McDonald's gets fillip from breakfast hit
MCDONALD'S reported better-than-expected quarterly same-restaurant sales as the launch of all-day breakfasts proved to be a hit with diners in the United States.
The world's biggest restaurant chain's shares rose 3 per cent to a record-high of US$121.90 on Monday.
McDonald's introduced all-day breakfasts in October in the US. "All-day breakfast positions us to regain market share we had given up in recent years," said new chief executive Steve Easterbrook.
Sales at McDonald's US restaurants in operation at least 13 months rose 5.7 per cent in the quarter ended Dec 31 - the best quarterly growth in nearly four years.
Analysts polled by research firm Consensus Metrix had forecast growth of 2.7 per cent on average.