Despite price increases, the chain still remains a top moneymaker.
McDonald's prices are up by 8%.McDonald's prices are up 8% over this time last year—but yet, despite price increases, the chain still remains a top moneymaker.
Even further, the chain reported that sales were up 3.5% for the first quarter of 2022 over the previous year. This is despite the fact that nearly half of consumers plan to reduce spending on dining out due to price increases, according to survey data. Chief Financial Officer Kevin Ozan explained in an earnings call last week that there's one thing that has been increasing to explain this trend."Food at home has been increasing even more than food away from home, so that's probably been a little benefit to us also," he told investors in the call.
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