McDonald’s reports like-for-likes up 5.9% in fourth quarter as full-year system-wide sales pass $100bn: McDonald’s has reported global like-for-likes rose 5.9% in its fourth quarter ending 31 December 2019. Global like-for-like sales were also up 5.9% for the full year as system-wide sales in 2019 passed the $100bn mark. Chief executive Chris Kempczinski said: “2019 marked a year of significant milestones for McDonald's – including surpassing $100bn in system-wide sales and achieving our highest global comparable sales growth in more than a decade. Through the execution of our Velocity Growth Plan, we once again served more customers the food they crave, marking three consecutive years of global comparable guest count growth.” US fourth-quarter like-for-likes increased 5.1% and 5.0% in the full year. Like-for-like sales in the fourth quarter for the “international operated” segment, which includes the UK, were up 6.2% and 6.1% for the full year. In the “international developmental licensed segment”, fourth-quarter like-for-like sales rose 6.6% and 7.2% in the full year. McDonald's returned $2.3bn to shareholders through share repurchases and dividends in the fourth quarter and $8.6bn for the full year, marking a successful achievement of the company's targeted return of $25bn for the three-year period ended 2019. On 23 January, McDonald's board of directors declared a quarterly cash dividend of $1.25 per share of common stock payable on 16 March to shareholders of record at the close of business on 2 March. Kempczinski added: “The broad-based momentum around the world continues to demonstrate the strength of the Velocity Growth Plan and the dedication of millions of global crew members executing that plan in McDonald's restaurants each and every day. As we look to 2020, we will continue to deliver delicious food and optimise our investments as we further transform the experience for our customers through added convenience and digital engagement.”
Yumpingo raises $10m: Restaurant intelligence platform Yumpingo has raised $10m in a Series A investment with London-based venture capital firm Smedvig Capital. The funding will be used to scale and further innovate Yumpingo’s one-minute instant review platform; launch Yumpingo Pay, a new pay-at-table platform; and expand the company’s sales and operations internationally. Additionally, Keith Taylor, chief financial officer of Equinix, and Mike Ryan, chief executive of Bullet Point Network and previously partner and head of global equity products at Goldman Sachs, are investing in the round and will be joining the Yumpingo board. Also investing is David Cantu, co-founder of HotSchedules, one of the world’s largest SaaS data platforms in the restaurant industry. Yumpingo chief executive and founder Gary Goodman said: “We’re delighted to be partnering with the team at Smedvig Capital and welcome Joe and Rob to our board. Along with Keith and Mike, to have such experienced investors join our board is a testament to the strength of the business we have created and the market opportunity we are seeing around the world for Yumpingo to empower restaurant teams to improve guests' experiences every day.” Joe Knowles, principal at Smedvig Capital, added: “Yumpingo’s instant review platform helps restaurants gather valuable real-time insights into their customers in an ever-competitive and customer-centric industry. We’ve been really impressed with Gary and the team, and are excited to partner with them to grow Yumpingo into the global leader in this emerging space.” Yumpingo collects data at the end of a meal when the bill is presented via a one-minute survey on operator-branded hardware or through a diner’s smartphone.
Sign up to Propel Premium and save money: Readers signing up to the new-look Propel Premium Club can save money by receiving a pair of free tickets to one of four conferences in 2020. Subscribers will be able to choose to use a pair of free tickets to one of the following conferences – The Delivery Conference (Tuesday, 21 April), The Finance and Investment Conference (Thursday, 14 May), The Casual Dining Summit (Monday, 12 October) or The New Concept Conference (Monday, 19 October). The normal cost of two tickets to these events is £490 plus VAT for operators and £690 plus VAT for suppliers. Propel Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before our 6am send-out, regular exclusive videos, discounts to attend Propel conferences and events, and regular columns from Mark Wingett. Subscribers also receive access to our database of multi-site companies, which has grown to 1,500 businesses. Propel managing director Paul Charity said: “Our new-look Propel Premium Club means subscribers can actually save money by signing up.”
An annual premium subscription costs £395 plus VAT for operators and £495 plus VAT for suppliers. Email anne.steele@propelinfo.com
