Mcdonald’s Corp shares are moving up in Tuesday’s pre-market, after the news that the fast chain company is claiming a victory over the fast-food rivals in one year after revamping its quarter pounder.
The fast-food giant, Mcdonald’s Corp announced that one year after switching to fresh beef in its quarter-pound burgers, it had help the company to edged out the competition to grow the burger share in the category of “informal eating out”, that includes the fast-food chains, the casual dining chains, and much more. McDonald’s gained share in that category, it happened first time in five years.
“Our numbers speak for themselves, with the introduction of fresh beef and the promotions including fresh beef quarter-pound burgers helping result in a sustained quarter-pound burger sales increase of 30% on average throughout the entire first year,” Chris Kempczinski, the president of McDonald’s USA, said in a statement.
The quarter-pounder sales surged by more than 50% during the first month of the national rollout, according to the company, and, McDonald’s sold 40 million more quarter-pound burgers in the first quarter of 2019, than in the first quarter of 2018.
Some experts predicted that the McDonald’s fresh beef rollout could also cause the issues for competitors such as Wendy’s, that is well known for using the fresh beef in all of its burgers as compared to frozen beef.