OAK BROOK, IL - McDonald’s Corporation today announced that global comparable sales decreased 1.7% in February. Performance by segment was as follows:
Creating consistently relevant and satisfying customer experiences have been hallmarks of McDonald's business and historic success. However, consumer needs and preferences have changed, and McDonald's current performance reflects the urgent need to evolve with today's consumers, reset strategic priorities and restore business momentum. The goal going forward is to be a true destination of choice around the world and reassert McDonald’s as a modern, progressive burger company.
U.S. comparable sales decreased 4.0% in February due to ongoing aggressive competitive activity. McDonald’s U.S. began March with a Turnaround Summit designed to deliver renewed energy and focus around the elements of the restaurant experience that matter most to customers - relevant, high-quality food and beverage offerings, compelling value and outstanding service from a trustworthy brand.
In Europe, comparable sales increased 0.7% in February as positive performance in the U.K. and Germany was partly offset by negative results in Russia. Amid Europe’s macro-economic headwinds, McDonald’s continues to pursue a balanced approach to driving the business through new menu offerings, emphasis on core menu favorites, and unique value options.
APMEA’s February comparable sales decreased 4.4% due primarily to the broad-based consumer perception issues in Japan, partly offset by a benefit from the shift in timing of Chinese New Year in China and certain other markets, as well as positive results in Australia. Rebuilding brand trust by strengthening McDonald’s quality and value perceptions is one of APMEA’s top priorities for 2015.
Strong comparable sales in McDonald's Other Countries & Corporate segment, which includes Latin America and Canada, contributed positively to the Company's global comparable sales performance for the month.
Systemwide sales for the month decreased 8.0%, or increased 0.5% in constant currencies.
McDonald’s tentatively plans to release first quarter results before the market opens on April 22, 2015 and will host an investor webcast. This webcast will be broadcast live and available for replay for a limited time thereafter at www.investor.mcdonalds.com.
McDonald’s is the world’s leading global foodservice retailer with over 36,000 locations serving approximately 69 million customers in over 100 countries each day. More than 80% of McDonald’s restaurants worldwide are owned and operated by independent local business men and women.
This release contains certain forward-looking statements, which reflect management’s expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from our expectations are detailed in the Company’s filings with the Securities and Exchange Commission, such as its annual and quarterly reports and current reports on Form 8-K.