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Morning Briefing for pub, restaurant and food wervice operators

Mon 9th Mar 2015 - McDonald’s reports lfls down chunky 4% in US in February
McDonald’s reports lfls down chunky 4% in US in February: McDonald's has reported a fall in global like-for-like sales of 1.7% in February, with like-for-like sales in the United States down 4%, Europe up 0.7% and the region down 4.4%. The company said: “Creating consistently relevant and satisfying customer experiences have been hallmarks of McDonald's business and historic success. However, consumer needs and preferences have changed, and McDonald's current performance reflects the urgent need to evolve with today's consumers, reset strategic priorities and restore business momentum. The goal going forward is to be a true destination of choice around the world and reassert McDonald's as a modern, progressive burger company.” It said US like-for-like sales fell in February because of "ongoing aggressive competitive activity". McDonald's US began March with a "turnaround summit" designed to deliver "renewed energy and focus" around the "elements of the restaurant experience that matter most to customers – relevant, high-quality food and beverage offerings, compelling value and outstanding service from a trustworthy brand". In Europe, comparable sales rose 0.7% in February as a positive performance in the UK and Germany was partly offset by negative results in Russia. The company said that "amid Europe's macro-economic headwinds, McDonald's continues to pursue a balanced approach to driving the business through new menu offerings, emphasis on core menu favourites, and unique value options." The fall in like-for-like sales in the Asia/Pacific, Middle East and Africa region was due "primarily to the broad-based consumer perception issues in Japan", McDonald's said, partly offset by a benefit from the shift in timing of the Chinese New Year in China and certain other markets, as well as positive results in Australia. It said "rebuilding brand trust by strengthening McDonald's quality and value perceptions" was one of its top priorities in the region for 2015. Strong comparable sales in McDonald's Other Countries & Corporate segment, which includes Latin America and Canada, contributed to the company's global comparable sales performance for the month. System-wide sales for the month fell 8%, though they increased 0.5% in constant currencies.

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