McDonald's (MCD) Comps Fell 0.6% in April, Wider than Expected
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McDonalds Corp (NYSE: MCD) announced that global comparable sales decreased 0.6% in April. Performance by segment was as follows:
* U.S. up 0.7%
* Europe down 2.4%
* Asia/Pacific, Middle East and Africa (APMEA) down 2.9%
*** The Street was looking for a drop of just 0.48 percent.
"McDonald's is focused on becoming our customers' favorite place and way to eat and drink by leveraging the strength of our menu variety, unsurpassed value and convenience, and by emphasizing outstanding customer service," said McDonald's President and Chief Executive Officer Don Thompson. "As we begin the second quarter against the backdrop of a persistently challenging macro environment, the McDonald's System is aligned around executing our long-term strategies to drive sustained, profitable growth."
In the U.S., comparable sales increased 0.7% in April as McDonald's remains a relevant and affordable choice for consumers. The national introduction of Premium McWraps, compelling value options and the ongoing popularity of McDonald's breakfast contributed to the month's results. Looking ahead, U.S. initiatives will feature a balanced combination of value, menu innovation and service.
In Europe, April comparable sales decreased 2.4% with positive performance in the U.K. and Russia more than offset by Germany, France and other markets. McDonald's markets across Europe continue to pursue customer-focused strategies around menu choice, everyday affordability and enhancing brand presence by adding new restaurants and increasing operating hours.
In April, APMEA's comparable sales declined 2.9%, reflecting the impact of Avian influenza, primarily in China, and softer results in Japan and Australia. Across the region, McDonald's is striving to improve performance by emphasizing unique value platforms, accelerating growth at breakfast and enhancing customer service and convenience.
Systemwide sales for the month decreased 0.4% and increased 1.9% in constant currencies.
* U.S. up 0.7%
* Europe down 2.4%
* Asia/Pacific, Middle East and Africa (APMEA) down 2.9%
*** The Street was looking for a drop of just 0.48 percent.
"McDonald's is focused on becoming our customers' favorite place and way to eat and drink by leveraging the strength of our menu variety, unsurpassed value and convenience, and by emphasizing outstanding customer service," said McDonald's President and Chief Executive Officer Don Thompson. "As we begin the second quarter against the backdrop of a persistently challenging macro environment, the McDonald's System is aligned around executing our long-term strategies to drive sustained, profitable growth."
In the U.S., comparable sales increased 0.7% in April as McDonald's remains a relevant and affordable choice for consumers. The national introduction of Premium McWraps, compelling value options and the ongoing popularity of McDonald's breakfast contributed to the month's results. Looking ahead, U.S. initiatives will feature a balanced combination of value, menu innovation and service.
In Europe, April comparable sales decreased 2.4% with positive performance in the U.K. and Russia more than offset by Germany, France and other markets. McDonald's markets across Europe continue to pursue customer-focused strategies around menu choice, everyday affordability and enhancing brand presence by adding new restaurants and increasing operating hours.
In April, APMEA's comparable sales declined 2.9%, reflecting the impact of Avian influenza, primarily in China, and softer results in Japan and Australia. Across the region, McDonald's is striving to improve performance by emphasizing unique value platforms, accelerating growth at breakfast and enhancing customer service and convenience.
Systemwide sales for the month decreased 0.4% and increased 1.9% in constant currencies.
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