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Morning Briefing for pub, restaurant and food wervice operators

Tue 30th Apr 2019 - McDonald’s reports like-for-likes up 5.4% in first quarter helped by ‘continued UK growth’
McDonald’s reports like-for-likes up 5.4% in first quarter helped by ‘continued UK growth’: McDonald’s has reported global like-for-like sales rose 5.4% in its first quarter to 31 March 2019, helped by continued growth in the UK. Chief executive Steve Easterbrook said: “We started the year strong, with our 15th consecutive quarter of positive global comparable sales reflecting continued broad-based momentum across each of our global segments. We remain focused on running better restaurants and elevating the experience for our customers by providing convenience on their terms through delivery, Experience Of The Future, and our evolving digital channels.” In the US, first-quarter like-for-like sales increased 4.5%, reflecting promotions such as the Bacon Event, the two for $5 Mix & Match deal, and Donut Sticks, as well as a net positive impact from its Experience Of The Future deployment. The segment’s operating income fell 5%, reflecting lower gains on sales of restaurant businesses and lower company-operated margin dollars, partly offset by higher franchised margin dollars and lower general and administrative costs.  First-quarter like-for-like sales for the “international lead” segment increased 6%, reflecting “positive results across all markets, primarily driven by the UK and France”. The segment’s operating income was flat – up 8% in constant currencies – primarily due to sales-driven improvements in franchised margin dollars. In the international developmental licensed segment, first-quarter like-for-like sales increased 6% reflecting “positive sales performance across all geographic regions”. Easterbrook added: “Two years into the Velocity Growth Plan, our sustained performance gives us confidence our strategy is working as more customers are experiencing a better McDonald’s every day. We remain focused on optimising execution of the plan and our recent acquisition of Dynamic Yield further demonstrates our relentless determination to seize opportunities to unlock greater potential and position McDonald’s for long-term sustainable growth.”

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