On Monday during an earnings discussion, McDonald’s announced that its newly renamed Crispy Chicken Sandwiches, now referred to as the McCrispy, have achieved the status of a $1 billion global brand.
This announcement coincides with McDonald’s reporting a 14% rise in consolidated revenues and an 8.1% growth in comparable U.S. sales for this year's third quarter.
Ian Borden, McDonald’s Chief Financial Officer, remarked, "Our McCrispy chicken sandwich continues to be a significant contributor to our growth in chicken market share, having debuted in regions such as Canada and Germany and now stands as a billion-dollar brand."
McDonald's McCrispy chicken sandwich becomes $1B brand worldwide after getting fresh namehttps://t.co/OPTaHiaxNZ
— FOX Business (@FoxBusiness) October 30, 2023
The company portrays its McCrispy sandwich as a "southern-style fried chicken sandwich that's crispy, juicy and tender perfection" which comes "topped with crinkle-cut pickles and served on a toasted, buttered potato roll."
The sandwich is available in both a spicy variant and a deluxe version featuring lettuce, tomatoes, and mayonnaise.
"McDonald’s Crispy Chicken Sandwich quickly became a fan-favorite when it first hit US menus in 2021. And now, this beloved sandwich is joining some of our most iconic menu items — McNuggets®, McMuffin® sandwiches and McFlurry® desserts — with a fresh new name: McCrispy™," the company said with their announce of the rebrand. "Earning your ‘Mc’ is a true McDonald’s badge of honor."
In a statement released on Monday, McDonald's President and CEO Chris Kempczinski commented, "With global Systemwide sales growth of 11%, our third quarter results reflect our position of strength as the industry leader.
"The macroeconomic environment is unfolding in line with our expectations for the year, and we continued to deliver convenience and value for our customers," he continued.
McDonald's highlighted that in several regions "are using the digital app to drive engagement with customers, most recently through the return of Monopoly in Australia, the U.K., and Spain." Additionally, the company stated, "McDonald’s has amassed an industry-leading digital loyalty footprint that complements and further modernizes our restaurant experience."
McDonald’s stock shares saw a rise of approximately $5 by midday trading.
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