Industry News | January 24, 2011
McDonald's Sees Positive Fourth Quarter
McDonald's Corporation announced that it saw positive results for the fourth quarter, including a global comparable sales increase of 5 percent.
"During 2010, we continued our efforts toward becoming our customers' favorite place and way to eat and drink – and customers rewarded us by visiting our restaurants more often," CEO Jim Skinner says.
"As a result, we generated strong sales and delivered profitable market share growth, along with higher global revenues, operating income and earnings per share."
Consolidated revenues were up 6 percent to a record-high $24 billion, while earnings per share were up 11 percent to $4.58.
In the U.S., an emphasis on driving customer traffic, menu innovation, and brand loyalty -- through the Monopoly game promotion and the introduction of the Caramel Mocha to the McCafe menu -- helped bring a 4.4 percent sales increase.
"Our results for 2010 reflect the power of our customer-centered initiatives, the fundamentals of our business model and the alignment between McDonald's franchisees, suppliers and employees," Skinner says.
"We are off to a good start in 2011 – our momentum is continuing in January with global comparable sales expected to increase 4--5 percent," he concludes.
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