Mon 5th Feb 2024 - McDonald’s reports global lfls up 3.4% in fourth quarter and 9% in full year, UK business sees ‘strong’ growth McDonald’s reports global like-for-likes up 3.4% in fourth quarter and 9% in full year, UK business sees ‘strong’ growth: McDonald’s has reported global like-for-likes were up 3.4% year-on-year in its fourth quarter ending 31 December 2023 with the UK performing “strongly”. Global like-for-like sales for the full year increased 9% year-on-year, “reflecting positive comparable sales across all segments”. For the full year, US like-for-like sales were up 8.7% year-on-year. The “international operated” segment, which includes the UK, saw like-for-like sales increase 9.2% year-on-year. The “international developmental” licensed segment saw like-for-likes up 9.4% year-on-year. Chief executive Chris Kempczinski said: “Our global comparable sales growth of 9% for the year is a testament to the tremendous dedication of the entire McDonald's system. Strong execution of our Accelerating the Arches strategy has driven more than 30% comparable sales growth since 2019 as our talented crew members, and the industry's best franchisees and suppliers have demonstrated proven agility with a relentless focus on the customer. By evolving the way we work across the system, we remain confident in the resilience of our business amid macro challenges that will persist in 2024.” The company said Systemwide sales to loyalty members were more than $20bn for the full year and in excess of $6bn for the fourth quarter across 50 loyalty markets, with full-year growth of more than 45% over the prior year. US fourth-quarter like-for-likes were up 4.3% year-on-year and benefited from strong average transaction growth driven by strategic menu price increases, McDonald’s said. It added successful restaurant level execution, effective menu and marketing campaigns and continued digital and delivery growth contributed to strong comparable sales results. Like-for-like sales in the fourth quarter for the “international operated” segment were up 4.4%. Segment performance was driven by strong comparable sales in most markets, led by the UK, Germany and Canada, partly offset by negative comparable sales in France, the company said. In the “international developmental” licenced segment, fourth-quarter like-for-like sales were up 0.7% year-on-year. Segment performance reflected positive comparable sales in all geographic regions, with the exception of the Middle East, which was impacted by the war in the region, McDonald’s said. Revenue for the quarter was up 8% to $6,406.2m (2022: $5,926.5m) while full-year revenue rose 10% to $25,493.7m (2022: $23,182.6m). McDonald’s features in the Propel UK Food and Beverage Franchisor Database, which is an exhaustive guide to the companies offering a food and beverage franchise in the UK and is available exclusively to Premium Club members. The database is updated every two months and the next version, due out this month, will feature 235 businesses. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.