News for McDonald's
Mar 8 · 12:59:00 PM · Source: Company Press Release
McDonald's Corporation today announced global comparable sales growth of 4.8%in February. Performance by segment was as follows: U.S. up 0.6%; Europe up 5.4%; Asia/Pacific, Middle East and Africa up 10.5%.
In Asia/Pacific, Middle East and Africa (APMEA), comparable sales rose 10.5% for February, led by strong results in Japan, China and Australia. The celebration of Chinese New Year in many markets contributed to the month's performance. Throughout APMEA, consumers continued to respond favorably to the region's compelling value offerings, great tasting premium menu selections and relevant convenience.
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by Rich Pike
Feb 10 · 1:04:00 PM · Source: Company Press Release
McDonald's announced today that global comparable sales increased 2.6% in January.
U.S. was down 0.7%. Europe was up 4.3%. Asia/Pacific, Middle East and Africa was up 4.3%. That has been the trend lately - relatively flat in the U.S. and growth outside the U.S.
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by Rich Pike
Jan 22 · 11:36:00 AM · Source: Company Press Release
McDonald's Corporation today announced strong results for the fourth quarter and year ended December 31, 2009, driven by global comparable sales growth.
Fourth quarter highlights included:
- Global comparable sales increase of 2.3%, with all segments reporting positive results.
- Operating income increases in the U.S. 5%, Europe 20% (10% in constant currencies) and Asia/Pacific, Middle East and Africa 51% (28% in constant currencies).
- Earnings per share of $1.11, including an $0.08 per share benefit primarily due to the resolution of certain liabilities retained in connection with the 2007 Latin America developmental license transaction. Currency translation also benefited earnings by $0.07 per share.
- On January 21, McDonald's Board of Directors declared a quarterly cash dividend of $0.55 per share of common stock, payable on March 15, 2010 to shareholders of record at the close of business on March 1, 2010.
"McDonald's 2009 results reflect the broad-based strength of our global business," said McDonald's Chief Executive Officer, Jim Skinner. "Our in-demand food and beverages, unparalleled convenience and superior value at every level of our menu enabled us to serve 60 million customers per day during 2009, up 2 million per day over the prior year. In addition, McDonald's profitability increased as we marked our sixth consecutive year of positive comparable sales in every geographic segment and generated higher global revenues, operating income and earnings per share in constant currencies - all tremendous accomplishments given the tough global economy."
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by Rich Pike
Jan 19 · 12:44:00 PM · Source: Newratings.com
Credit Suisse upgraded McDonald's from Neutral to Outperform. Price target was raised from $69 to $71.
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by Rich Pike
Jan 15 · 9:51:00 AM · Source: Chinaknowledge.com
Chinaknowledge.com is reporting that McDonald's plans to redecorate 80% of its Chinese chain stores within three years, repainting and replacing chairs and lights to create a café-like atmosphere. Zhou Weicheng, vice president of McDonald's (China), said that the firm will redecorate more than 50% of its 1,100 restaurants in China by the end of this year, the 20th year since it entered the Chinese market. In addition, McDonald's will soon offer free wireless internet service in its restaurants across China
Currently, youth are the major consumers of McDonald's items; the fast food chain hopes to attract customers of different ages, said Zhou. This year, McDonald's intends to open 135 stores in China. Of its existing restaurants, 80% are open 24 hours a day.
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by Rich Pike
Jan 12 · 6:50:00 AM · Source: Company Press Release
Don Thompson, currently President of McDonald USA, has been elected to the role of President and Chief Operating Officer, with oversight responsibility for the company’s 32,000 restaurants worldwide. In addition, the company announced the promotions of Jan Fields, currently EVP Executive Vice President and Chief Operations Officer for McDonald’s USA, to succeed Thompson as President of McDonald’s USA, and Jim Johannesen, currently U.S. Division President—Central Division, to succeed Fields as EVP and Chief Operations Officer for McDonald’s USA.
Thompson, 46, began his McDonald’s career in 1990 as an engineer in the Restaurant Systems Group. He moved into restaurant operations four years later, and rose quickly through the operations ranks. He was named Regional Manager of the San Diego Region in 1998, and was promoted to Regional Vice President a year later. In 2000 he was named President of the Midwest Division of McDonald’s USA, and in 2001 was appointed President of the company’s West Division. In 2004, he returned to Oak Brook as EVP of McDonald’s Restaurant Systems Group. A year later he was promoted to EVP and Chief Operations Officer for McDonald’s USA, and in 2006 was named President of McDonald’s USA.
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by Rich Pike
Dec 31 · 12:38:00 PM · Source: Chron
The abrupt retirement of Ralph Alvarez, 55, McDonald's president and chief operating officer, came as a surprise to people in and around the company. The company announced December 1 that Alvarez was retiring, effective December 31, because of chronic knee pain.
His departure is the second time in a little more than three years that the company's No. 2 executive has left suddenly. In 2006, investors and analysts were similarly surprised when Alvarez's predecessor, Michael Roberts, announced his resignation.
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by Michael Oliveto
Dec 31 · 12:32:00 PM · Source: examiner.com
McDonald's will open a new outlet at Berlin's Checkpoint Charlie, completing the landmark's 20-year transformation from Cold War frontline to tourist hotspot.
McDonald’s has applied for planning permission with the German authorities, according to company Spokeswoman Christiane Woerle. If it goes through, the 6,500 square-foot restaurant will have 120 seats and will be located across from a museum dedicated to the Wall.
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by Michael Oliveto
Dec 11 · 1:05:00 PM · Source: CNN.com
CNN.com is reporting that McDonald's will start offering breakfast for a buck with the launch of a national dollar menu in January. The breakfast dollar menu will be backed with advertising across the U.S., and will feature five items: two sausage sandwiches, a sausage burrito, a 12-ounce coffee and a hash brown. The menu may feature some variations based on markets.
The concern here is that McDonald's margins are going to get squeezed. Their strategy seems to be to try to maintain market share and traffic in this tough environment.
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by Rich Pike
Dec 8 · 8:39:00 PM · Source: Yahoo Finance
McDonald's reported that sales at restaurants open at least a year fell 0.6 percent in the U.S. It was the second consecutive monthly decline for the measure, an important indicator of a restaurant chain's health, and a steeper fall than October's 0.1 percent. This is only the fourth U.S. decrease in 6 1/2 years.
Many analysts believe the high unemployment rate is negatively impacting sales for McDonald's, as well as other fast food chains. Expect continued weak results until unemployment recedes.
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by Rich Pike
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