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Thu 27th Oct 2022 - McDonald’s reports global like-for-like sales up 9.5% in third quarter
McDonald’s reports global like-for-like sales up 9.5% in third quarter: McDonald’s has reported its global like-for-like sales rose 9.5% in its third quarter to 30 September 2022 compared with the previous year. Digital systemwide sales in its top six markets were nearly $7bn for the quarter, representing more than a third of total systemwide sales in those markets. Chief executive Chris Kempczinski said: “Our third quarter 2022 performance demonstrated broad-based business momentum as global comparable sales increased nearly 10%. I remain confident in our Accelerating the Arches strategy as our teams around the world continue to execute at a high level. As the macroeconomic landscape continues to evolve and uncertainties persist, we are operating from a position of competitive strength. I also want to thank our franchisees, who have done a tremendous job navigating this environment, while providing great value to our customers.” US third-quarter like-for-like sales were up 6.1%, marking the ninth consecutive quarter of comparable sales growth for the market. McDonald’s said comparable sales benefited from strategic menu price increases and increases in customer visits. Successful marketing promotions featuring the core menu and continued digital and delivery growth contributed to positive comparable sales results, it said. Third-quarter like-for-like sales for the “international lead” segment, which includes the UK, were up 8.5%. McDonald’s said strong operating performance drove positive comparable sales across the segment, led by strong comparable sales in Germany, Australia and France. In the international developmental licensed segment, third-quarter like-for-like sales were up 16.5%. The quarter reflected strong comparable sales driven by Brazil and Japan, partly offset by negative comparable sales in China due to continued covid-19 related government restrictions, McDonald’s said. Group systemwide sales were up 2% in the period. Total revenue was down 5% to $5,872.1m from $6,201.3m the previous year. For the year so far, revenue is up slightly to $17,256.1m compared with $17,213.8m the previous year. 

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