McDonald’s quarterly U.S. sales up 4.6% thanks to their partnership with Travis Scott

McDonald’s will present its full results for the third quarter and will hold a virtual investor event on November 9th.

Fast food companies like McDonald’s are recovering from the coronavirus pandemic faster than the wider restaurant industry, thanks to their comfortable driving and low prices. Shares of McDonald’s, which have a market value of $ 175 billion, have risen more than 14% this year.

The chain’s return to the United States has been aided by its promotions and marketing. In September, she offered a deal for rapper Travis Scott’s favorite dish, which led the chain to limit some ingredients due to its popularity. With the help of this deal, September had the highest monthly sales in the same store in nearly a decade, with growth throughout all-time dining. Since August, the share price has been 17% more expensive.

Outside its domestic market, McDonald’s is recovering more slowly after seeing a sharp drop in sales in the previous quarter. Tighter blocking restrictions mean many of its restaurants have to close completely, and its international locations are less likely to have driveways.

Global sales for the quarter contracted by 2.2%, much better than the decline of 23.9% in the second quarter.

McDonald’s also said it was increasing its quarterly cash dividend by 3% to $ 1.29 per share.

“While the business results for the current year have been affected by the Covid-19 pandemic, the pace of recovery, combined with the company’s strong financial position, supports this dividend increase while allowing the company to invest in the business,” McDonald’s said in a statement.

The chain also expects to partner for the promotion with a similar deal this month, including the order of reggaeton singer J. Balvin.

The key level here is around $ 210. There will be a good place to buy, unless there is a closure due to the virus, dropping down and holding below this level will start a new low movement.