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Mon 30th Apr 2018 - McDonald’s reports global like-for-likes up 5.5% in first quarter, UK particularly strong
McDonald’s reports global like-for-likes up 5.5% in first quarter, UK particularly strong: McDonald’s has reported global like-for-like sales rose 5.5% in its first quarter ended 31 March. “We continued to build upon the broad-based momentum of our business, marking 11 consecutive quarters of positive comparable sales and our fifth consecutive quarter of positive guest counts,” said McDonald’s president and chief executive Steve Easterbrook. “More customers are recognising that we are becoming a better McDonald’s, appreciating our great-tasting food, fast and friendly service and compelling value as we execute our Velocity Growth Plan.” Global comparable guest counts increased 0.8%. System-wide sales increased 7% in constant currencies. It returned $2.5bn to shareholders through share repurchases and dividends. In the US, first quarter like-for-like sales increased 2.9% driven by growth in average transaction value resulting from menu price increases and product mix shifts. Operating income for the quarter increased 5%, reflecting higher franchised margin dollars and higher gains on sales of restaurant businesses, partly offset by lower company-operated margin dollars. Comparable sales for the International lead segment increased 7.8% for the quarter, reflecting positive results across all markets, primarily driven by the UK and Germany. The segment’s operating income increased 21% (9% in constant currencies), fuelled by sales-driven improvements in franchised margin dollars. In the High Growth segment, first quarter comparable sales increased 4.7%, led by strong performance in China and Italy and positive results across most of the segment, partly offset by continued challenges in South Korea. In the Foundational markets, first quarter comparable sales rose 8.7%, reflecting positive sales performance across all geographic regions. Easterbrook added: “We’re keeping the customer at the centre of everything we do as we continue enhancing their McDonald’s experience. Guided by our Velocity Growth Plan, we are satisfying the rising expectations customers have for the taste and quality of our food and greater convenience as they visit our restaurants or enjoy meals delivered to their homes and offices. We are confident in the strategies guiding our business for today and for long-term sustained growth into the future.”

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