Surging sales at McDonald’s offsets trouble in China, Russia

Published April 28, 2022 6:48 AM

By DEE-ANN DURBIN
AP Business Writer

McDonald’s said higher U.S. menu prices and easing COVID restrictions in Europe helped offset troubled markets like China and Russia in the first quarter. The Chicago burger giant said Thursday its revenue rose 11% to $5.66 billion in the January-March period. U.S. menu prices were up 8% over last year as McDonald’s tried to compensate for double-digit inflation in commodity and labor costs. The company said it will announce its next steps in Russia before the end of the second quarter. McDonald’s temporarily closed 850 stores in Russia last month but it continues to pay its 62,000 employees there.

Article Topic Follows: AP National Business

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