McDonald’s shrugs off recession with record sales result
The performance of burger chain McDonald’s has again highlighted the resilience of fast food, with relatively cheap convenience at the forefront of customer minds.
Global comparable sales were up 2.8 per cent year-on-year, with Europe (+5.2%) the best performed region. Revenue growth was more subdued in the fourth quarter, however, with comparable sales up 2.3 per cent.
“McDonald’s 2009 results reflect the broad-based strength of our global business,” McDonald’s Chief Executive Officer, Jim Skinner, said. “Our in-demand food and beverages, unparalleled convenience and superior value at every level of our menu enabled us to serve 60 million customers per day during 2009, up 2 million per day over the prior year.”
It was the company’s sixth consecutive year of positive comparable sales in every geographic segment.
In the Asia/Pacific, Middle East and Africa division, sales rose 3.4% in 2009, with Australia one of the leading lights throughout the year.
“In the fourth quarter, Asia/Pacific, Middle East and Africa (APMEA) delivered impressive double-digit operating income growth fueled by results in Australia, expansion in China and operating efficiencies and lower commodity costs in many markets,” the company advised in a statement. “Strong execution in convenience, value, core menu and breakfast continued to drive APMEA’s performance.”