McDonald’s reported its first quarterly increase in U.S. same-restaurant sales in two years Thursday, the Wall Street Journal reported, suggesting the fast-food chain’s turnaround efforts are bearing fruit.
The burger chain’s improvement comes with the recent start of all-day breakfast as well as a newly anointed CEO Steve Easterbrook, who joined the company earlier this year.
Shares of McDonald’s (MCD) surged in early trading.
The Journal noted:
In the U.S. market, McDonald’s same-restaurant sales grew 0.9% in the latest quarter, beating the 0.2% decline analysts had expected, according to Consensus Metrix.
“Third quarter marked an important step in the Company’s global turnaround—the reorganization of our business from a geographically focused structure to business segments that combine markets with similar characteristics and opportunities for growth,” said CEO Easterbrook in a statement. “As we begin fourth quarter, comparable sales are expected to be positive in all segments.”
He added: “While still in the early stages, we believe our turnaround plan is starting to generate the change needed to reposition McDonald’s as a modern, progressive burger company.”
Notably, however, McDonald’s franchisees haven’t been feeling too optimistic about the chain’s future.