McDonald's Corporation has today announced results for the first quarter ended 31 March 2017.
Global comparable sales increased by 4%, reflecting positive comparable sales in all segments while up against an extra day in 2016 due to leap year.
Consolidated revenues decreased by 4% (3% in constant currencies), due to the impact of refranchising. Consolidated operating income increased 14% (16% in constant currencies).
In the US, first quarter comparable sales increased 1.7%, building upon strong prior year results that benefited from the launch of All Day Breakfast.
Comparable sales for the International Lead segment increased 2.8% for the quarter, primarily driven by continued momentum in the UK and Canada's successful launch of All Day Breakfast. The segment's operating income increased 2% (6% in constant currencies), fueled by sales-driven improvements in franchised margin dollars across most markets.
President and CEO Steve Easterbrook said, 'Our efforts to build a better McDonald's are yielding meaningful results with continued positive momentum and a strong start to 2017 that includes positive comparable sales across all segments, higher global guest counts and enhanced profitability.
'There's a sense of urgency across the business as we take actions to retain existing customers, regain lapsed customers and convert casual customers to committed customers. We're continuing to build a more personalized and enjoyable visit, which delights customers with the taste and quality of our food and offers the highest level of convenience, in order to gain traffic in an increasingly competitive industry and deliver profitable growth for our System and shareholders.'
Easterbrook concluded, 'Today, we're harnessing the strong execution of our fundamental business drivers, a sharp focus on our customers, the benefits of right-sizing our organization and the contributions of the talented franchisees, suppliers and employees to seize the opportunities before us.
'We're challenging ourselves to identify and pursue initiatives that can bring the biggest benefit to the most customers in the shortest possible time. I'm confident that we're on the right path and well-positioned to unlock incremental growth and deliver against our Velocity Growth Plan for 2017 and beyond.'
