McDonald’s Q3 sales boosted by higher prices, promotions

By DEE-ANN DURBIN
AP Business Writer

Higher prices and general unease about the economy didn’t keep customers away from McDonald’s in the third quarter. The Chicago burger giant reported stronger-than-expected sales and profits. U.S. prices were 10% higher than last year in the July-September period as McDonald’s tried to compensate for higher paper, food and labor costs.  But while some lower-income consumers appeared to shift to cheaper menu items, overall demand remained strong. Same-store sales were up 9.5% globally and 6% in the U.S. Revenue fell 5% to $5.87 billion, but that was better than industry analysts had expected. Overseas revenue was weaker because of the strong dollar.