McDonald's announced a resilient 4.3% increase in global comparable sales for the first quarter as they continue to attract financially stricken consumers.
Chief Executive Officer Jim Skinner said a focus on convenience and value were the drivers of their success. "McDonald's continues to deliver a relevant restaurant experience that provides consumers with a broad range of quality menu choices, affordable prices and unmatched convenience," he stated. "Our underlying business performance remains strong. In constant currencies, first quarter results reflect higher revenues, operating income and earnings per share over the prior year."
The greatest growth rate of their three regions was in the Asia/Pacific, Middle East and Africa (APMEA) sector, where they anticipate to derive significant benefit from in the years ahead. In constant currencies, APMEA's first quarter operating income soared by 11%, driven by strong performances in Australia and Japan - which were partly offset by weaker sales in China. The strong US dollar had an impact, however, with sales rising 5.5% in USD terms.
The US region outshone Europe, with sales up 4.7% despite the deep recession in their home market. The company said they had managed to take market share as consumers sought out core products like the Quarter Pounder, and were drawn to convenient locations and operating hours. Increased sales of chicken, breakfast and beverages contributed to the robust results.
"McDonald's business remains strong, despite the economic concerns around the world," Mr Skinner added. "Our well-known value proposition and unparalleled convenience continue to resonate with customers. In fact, the momentum has continued with April comparable sales trending at least as strong or better than first quarter sales in every area of the world.
"I remain confident that we have the right strategies in place to grow the business and provide value into the future," he concluded.
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