Not even a week after reports surfaced that some McDonald’s franchisees think the restaurant is facing its final days, stock prices for the fast-food conglomerate hit an all-time high on Thursday.
Jumping more than eight percent to a record $110.88, the share price was a reflection of the chain’s renewed success, as sales for the Golden Arches rose four percent in the third quarter, ending a two-year streak of declining sales.
Sometimes-beleaguered CEO Steve Easterbrook took a victory lap on a conference call with analysts and investors, stating:
So what’s the secret of Easterbrook’s newfound success? According to him, it’s simple: chicken and butter. That’s right, McDonald’s credits the introduction of its new Buttermilk Crispy Chicken Deluxe sandwich as helping to right the ship, as well as its decision to swap butter for margarine on its Egg McMuffins.
The Buttermilk Crispy Chicken Deluxe (Photo: McDonald’s)
And what about the now infamous All-Day Breakfast? Where does that factor in?
Well, Easterbrook says it’s a big part of McDonald’s focus on winning back customers and providing speedy service—though, as we’ve previously covered, a number of domestic franchises say providing All-Day breakfast actually slows service down. Easterbrook denies that assertion, saying that All-Day Breakfast is part of “an incremental profitable business.”
So is this the beginning of a McRenaissance or was this past quarter an outlier? Only time will tell. For now though, it seems that Easterbrook is quieting his critics, and accomplishing his plan to reposition McDonald’s as a “modern, progressive burger company.” Now if only he’d get rid of Mickey D’s utterly horrifying mascot, they might really be onto something.