Amidst recession, the burger booms
AP: Cash-strapped consumers in the U.S. kept buying McDonald's burgers and breakfast items in January, helping the fast food company post a 7.1 percent worldwide increase Monday in same-store sales for the month.
The nation's No. 1 hamburger chain has been posting strong sales as the economic downturn in the U.S. spreads overseas and people turn away from pricier restaurants to grocery stores and fast-food outlets. In the U.S., sales at locations open at least a year rose 5.4 percent. The Oak Brook, Ill.-based chain said strong sales of its breakfast offerings and "value across the menu" boosted the U.S. results. Those results proved the 'recession-resistant' mantra is still strong, according to one analyst.
The nation's No. 1 hamburger chain has been posting strong sales as the economic downturn in the U.S. spreads overseas and people turn away from pricier restaurants to grocery stores and fast-food outlets. In the U.S., sales at locations open at least a year rose 5.4 percent. The Oak Brook, Ill.-based chain said strong sales of its breakfast offerings and "value across the menu" boosted the U.S. results. Those results proved the 'recession-resistant' mantra is still strong, according to one analyst.
Comments
I just have a small calrification..U have written about the boom in sales of burgers despite recession..Isnt that true even in the case of mobile phones..how are customers responding to the high end technology products and features introduced in mobiles..whats ur say in this
I visited two restuarants on the way home from work tonight and both were very busy.
These are upscale establishments.
Another steak house in town has had 45 minute waits on Friday and Saturday nights each time I have been there recently.
I know these are anecdotes - but I have not observed a significant slowdown in what has been written about as the worst economy since the Great Depression in the U.S. in the 1930s.
There seems to be a disconnect between what people are saying and what they are doing.