McDonald's (MCD) -) may have beaten earnings estimates late in October, with revenue climbing 14% year-over-year, but with the holidays approaching, the fast-food giant needs to continue to delight customers in creative ways to maintain its competitive edge.
McDonald's said that same-store sales, a metric of the performance of stores that have been in operation for at least one year, jumped 8.8%, higher than the 7.79% analysts had been targeting.
Related: McDonald's likely to expand beloved dessert partnership very soon
But what about the folks who don't visit stores in person, whether it's because they order online or don't want to be tempted by the compelling scent of the fryer and freshly roasted coffee? Some folks want to stay loyal to the brand while also watching their wallets or calorie counts.
So a recent partnership just announced by McDonald's may be just their ticket.
McDonald's announces a key partnership
McDonald's knows that people of all ages and from all walks of life enjoy its products. And while not everybody agrees on the beauty or utility of Crocs (CROX) -), a growing portion of the population does.
Crocs, which just reported Q3 earnings, reported $1.05 billion in revenue, up 6.2% from the year-earlier period and above what Wall Street expected. Earnings per share also surprised Wall Street: $3.25, or 3.6% above expectations.
Crocs is growing in size and popularity, and McDonald's is capitalizing on that opportunity. Together, the two are releasing a collaborative line that celebrates the brand many fast-food enthusiasts know and love paired with the comfort wearers have come to appreciate.
if u want them u better activate sport mode rn pic.twitter.com/JGyGwe1zXW
— McDonald's (@McDonalds) November 14, 2023
The full collection includes:
- Grimace x Crocs Cozzzy Sandal: "these sandals lined in faux fur will have you feeling like you’re walking a day in Grimace’s shoes," McDonald's writes.
- Birdie x Crocs Classic Clog: "Early birds like Birdie will be the first to get these Classic Clogs in her signature yellow and pink, with her favorite menu item – a McDonald’s Egg McMuffin® – as a Jibbitz™ charm."
- Hamburglar x Crocs Classic Clog: "Feel as stealthy as Hamburglar himself with these Classic Clogs in Hamburglar’s famous black and white stripes and Jibbitz charms featuring his go-to order (a hamburger, of course)."
- McDonald’s x Crocs Classic Clog: "For those who want to sport Crocs in a classic McDonald’s style, the McDonald’s x Crocs Classic Clog is for you."
The collection also features Jibbitz — Crocs accessories that plug into the holes of each popular clog. The shoes will retail for $70 to $75 and can be paired with corresponding socks, at around $20 a pair, to complete the look.
The collection marks McDonald's first ever global shoe partnership and also benefits a good cause.
"In honor of the Crocs partnership, McDonald's is stepping up for RMHC [Ronald McDonald House Charities] and will make a donation to help support families with children who are sick and give access to the medical care and resources they need," a press release reads.
The collaboration, which went live in mid-November, will be limited while supplies last.
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