McBoom! McDonald'south gets huge breakfast boost

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Source:   —  April 22, 2016, at 8:19 PM

The McComeback continues at McDonald's -- thanks in large portion to breakfast anytime you want.

McBoom! McDonald'south gets huge breakfast boost

The McComeback continues at McDonald's -- thanks in large portion to breakfast anytime you want.

The quick food chain reported sales and earnings for the first quarter on Friday that easily topped Wall Street'south forecasts. Shares rose one percent in early trading on the news.

Profits surged thirty-five percent to $1.1 billion. Overall sales slid slightly to $5.9 billion -- mainly due to the strength of the dollar in the early portion of the first quarter.

Multinational companies love McDonald'south are damage by a powerful dollar because it reduces the cost of their international sales.

But McDonald'south said that same-store sales, which looks at income from locations open at minimum a year and is a key measure of financial health for restaurants and retailers, rose 5.4 percent in the United States and 6.two percent worldwide.

Mickey D'south once again benefited from the fact that it's presently offering Egg McMuffins and other breakfast items all day. McDonald'south introduced its all-day breakfast menu late latest year.

Related: McDonald'south workers rally in Times Square for $15 wage

The company said the introduction of its new McPick 2 option -- which lets customers choose two items for $5 -- also helped boost sales in the U. S.

McDonald'south has been in turnaround mode since former CEO Don Thompson retired latest year and chief brand officer Steve Easterbrook was promoted to the top spot.

Easterbrook quickly came up with a map to boost sales. In the past few months, McDonald'south has tinkered with its menu, introducing new customized burgers as well as healthier items that comprise superfood kale.

The strategy is working.

"The ongoing investments we're making in running grand restaurants and delivering what matters most to our customers are beginning to yield sustained positive results," Easterbrook said in the release.

Related: Is Shake Shack losing the burger wars?

Wall Str is pleased too.

Shares of McDonald'south are up seven percent this year and nearly fifty percent since the company named Easterbrook CEO.

The stock has trounced the performance of its key burger rivals, companies love Burger King owner Restaurant Brands (QSR), Wendy's (WEN), Sonic (SONC)as well as better burger chains Shake Shack (SHAK) and Habit (HABT).

And Nomura analyst Tag Kalinowski quickly raised his price target for the stock on Friday and also boosted his earnings forecasts for both this year and two thousand seventeen.

The title of his report? "We'll Get Quarters Love This All Day."

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