Finally, McDonald's is now offering an all day breakfast menu. Aside from the loyal customers in the US, their investors are also 'lovin' it.'
As reported by the McDonald's Corp, they performed better-than-expected in the quarter they launched their all-day breakfast, proving that the marketing plan was a hit in the United States, so much that demands for it to be continued in China makes noise.
The world's biggest fast food chain's shares rose 3 percent to a record-high of $121.90 on Monday, since they introduced all-day breakfast in October, exclusively for customers in America. It notably hit a notable rise of 5.7% in the quarter ended Dec. 31-the best quarterly growth in nearly four years.
Breakfast lovers can now enjoy an all day supply of Egg McMuffins and Hashbrowns, which are favorites and staples for many.
"All-day breakfast positions us to regain market share we had given up in recent years," new Chief Executive Steve Easterbrook said on a post-earnings conference call. Because of increasing competition with Wendy's, Starbucks and Burger King, the company thought of ways on how to cope with it and decided to make the move.
It was reported that up to the third quarter of last year, the sales of McDonald's in the country was continuously decreasing for two years, after a series of wrong moves and missteps under former CEO Don Thompson, who left the company last February.
Introducing an All-day Breakfast menu is just one of the measures the company is planning to make in order to turnaround last year's decline. Other plans of action include making the menu simpler, improving service time and raising worker salary.
"I am particularly impressed with how quickly things are changing," Morningstar analyst R.J. Hottovy said. "Once upon a time, under previous leadership, it seemed like McDonald's became a less nimble company where it took a really long time to roll out new products and innovations."
