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Mcdonald’s Rises By 2%
Description
Shares in McDonald’s ($MCD@US) rose 2% in pre-market trading as the fast-food chain reported that traffic to its U.S. restaurants is growing with its revenue at $5.87 billion. Like its competitors, McDonald’s has been raising its prices to offset rising food and labor costs, but that has not slowed customer traffic to its restaurants. McDonald’s price increases have driven away lower-income customers, but it's drawing higher-income customers who are opting for fast food over dining in a full-service restaurant.
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