McDonald’s is the most preferred fast food brand by consumers, according to a new survey.
Conducted by UBS Evidence Lab, the survey found that the fast food company is likely to remain at the top, based on consumers’ “particularly favorable perceptions” of McDonald’s, UBS analyst Dennis Geiger wrote to clients Tuesday, according to Yahoo.
UBS surveyed 2,029 adults who visit at least one “fast-casual restaurant” a month, the outlet reported. McDonald’s performed better than its competitors in several important categories for fast food brands.
“McDonald’s U.S. brand strength remains robust, with MCD outperforming peers across a number of important customer perception metrics. We note MCD performed favorably in value, promotion, and speed of service attributes – all of which are areas of focus for MCD and the QSR industry in general,” Geiger said.
The survey found that Wendy’s came in second place and Burger King — part of Restaurant Brands — followed in third. Subway, Taco Bell and KFC followed behind.
UBS analysts reportedly believe McDonald’s will be able to continue growth in same-store sales, based on the survey. Geiger also noted customers are “inclined to increase visits going forward.”
“When asked what factors would cause increased visitation to MCD, lower prices and more promotions were among the most frequently cited reasons,” he explained.
|WEN||THE WENDY'S COMPANY||20.43||+0.37||+1.84%|
|QSR||RESTAURANT BRANDS INTERNATIONAL INC.||59.92||-1.56||-2.54%|
In April, the company reported a better-than-expected rise in quarterly sales at established U.S. restaurants, boosted by the burger chain's latest promotions and menu additions, sending its shares up about 4 percent.
During the first quarter, McDonald's launched a new two for $5 deal, tweaked its breakfast menu to add donut sticks and offered applewood smoked bacon with a selection of its burgers and breakfast sandwiches.
The company is modernizing its stores by introducing digital menus and adding wooden tables and faux leather chairs as it seeks to attract diners in a competitive market.
Those efforts helped drive a 4.5 percent growth in same-store sales in the United States, beating the 3.03 percent rise expected by analysts, according to Refinitiv IBES. The beat was also its first in four quarters.
Net income fell to $1.33 billion, or $1.72 per share, in the first quarter ended March 31 from $1.38 billion, or $1.72 per share, a year earlier.
Excluding one-time items, the company earned $1.78 per share. Total revenue fell about 4 percent to $4.96 billion, due to its move to franchise a majority of its restaurants.
Analysts were expecting a profit of $1.75 per share on revenue of $4.93 billion.
Reuters contributed to this report.