An Encouraging Sign For McDonald's (With Help From Travis Scott)

McDonald's Corp MCD saw a spike in year-over-year weekly visits at the start of September but has slowed down, according to location intelligence platform company Placer.ai.

McDonald's saw a notable surge in traffic in early September, coinciding with the Labor Day long weekend and a strong marketing campaign with rapper Travis Scott. Specifically, weekly visits at McDonald's locations were down 24.3% nationwide for the week of Sept. 7.

See Also: Travis Scott Broke McDonald's Supply Chain

Why It's Important: Since the first week of September, year-over-year traffic growth slowed nationwide to down 26.3% year-over-year for the week of Sept. 14 and down 30% year-over-year for the week of Sept. 21, according to Placer.ai.

While still in negative territory on a year-over-year basis, September's performance marks an improvement from July and August where visits were down 32.5% year-over-year, according to Placer.ai.

Encouragingly, September typically marks a seasonal dip in traffic so the burger chain continues to show progress in recovering from its COVID-19 lows.

What's Next: If McDonald's is able to leverage recent momentum and recapture its early September strength, the restaurant could succeed in showing a full recovery faster than many expected, according to Placer.ai.