McDonald's to change same-store sales reporting
May 27, 2105
by Erica Shaffer
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McDonald's CEO Steve Easterbrook says the company will switch to quarterly same-store sales reports.
NEW YORK – McDonald’s CEO Steve Easterbrook announced the company will no longer report monthly same-store sales after July. Instead, the company will switch to including same-store sales information in its quarterly earnings reports. Easterbrook made his comments during the Bernstein Strategic Conference in New York May 27.
Speaking about McDonald’s turnaround plan, Easterbrook said the company’s initiative to drive shareholder value and sustainable growth has “focused our activities and conversations around the strategic longer term actions we are taking.”
“Disclosing comparable sales as part of our quarterly reporting is consistent with nearly all retailers and will provide a greater understanding of McDonald’s sales results in the context of the company's overall financial performance,” Easterbrook explained.
McDonald’s sales results declined 11 straight quarters through April, when the company reported a 0.6 percent decline in global comparable sales.
In response, the company launched a turnaround plan which includes new business segments, new leadership over those segments and refranchising 3,500 restaurants.
“All these moves are liberating for our system,” Easterbrook said.