FILE - This July 18, 2018, file photo, shows a sign outside a McDonald's restaurant in Pittsburgh. McDonald's Corp. (MCD) on Thursday, July 26, reported second-quarter net income of $1.5 billion. (AP Photo/Gene J. Puskar, File)

Higher prices help McDonald's lift US sales

July 26, 2018 - 8:36 am

OAK BROOK, Ill. (AP) — McDonald's says a key sales figure rose in the second quarter as it works to win back customers through menu and store changes.

The world's biggest burger chain says sales rose 4 percent globally at stores open at least 13 months. That included a 2.6 percent increase in the U.S., where the company has been shrinking its store base in recent years after decades of growth.

McDonald's said the sales growth in the U.S. was the result of people spending more on average per visit, resulting in part from higher prices.

The improved sales come as the chain tries to modernize its operations with changes like ordering kiosks and delivery.

For the period ended June 30, McDonald's earned $1.5 billion, or $1.90 per share. Earnings, adjusted for restructuring costs, were $1.99 per share, or 7 cents better than Wall Street was expecting, according to a survey by Zacks Investment Research.

Total revenue of $5.35 billion in the period, also edging out forecasts.

Shares of McDonald's Corp. slipped less than 1 percent before the opening.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCD at https://www.zacks.com/ap/MCD

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