After two years of falling sales, McDonald’s shares are now at a record high.
McDonald’s Corp. has reported positive quarterly “same-restaurant sales” results for the quarter ended Dec. 31.
In fact, according to a report from Reuters, McDonald’s has reported the best quarterly growth in nearly four years for the last quarter. The company growth is being attributed to the introduction of all-day breakfast and a number of other turnaround efforts made by the company’s new CEO, Steve Easterbrook.
The additional turnaround efforts include a simpler menu, improved service time and increased employee wages.
Reuters reported that the company is now seeing growth in the U.S., as restaurants that have been open at least 13 months have reported sales growth up 5.7% in the quarter ended Dec. 31, and company shares have risen 3% to a record high of $121.90.
Although the company is experiencing growth, Easterbrook remains cautious, claiming that six more months of positive sales and traffic increases are needed for the sustained growth portion of the turnaround plan.
In addition to the growth McDonald’s is experiencing in the U.S., the company has also reported growth in the China market for the past two quarters.