McDonald’s first quarter sales boosted by higher prices

By DEE-ANN DURBIN
AP Business Writer

McDonald’s reported higher-than-expected sales in the first quarter as store traffic grew despite higher prices. The Chicago burger giant said Tuesday that its global same-store sales rose 12.6% compared to the January-March period last year. That was well above the 8.7% increase Wall Street forecast. McDonald’s said it raised prices on some items to account for higher food, paper and labor costs. But the company says it’s starting to see some customer resistance to price increases, so it will have to remain disciplined. McDonald’s revenye rose 4% to nearly $5.9 billion in the first quarter, also topping Wall Street’s expectations.