CLAIM #38867 · McDonald’s Corporation (MCD) · 2021Q3 earnings call · Oct 27, 2021 · due Dec 31, 2021
“With our strong overall sales performance for the first three quarters of the year, we now expect system-wide sales to be up in the high-teens in constant currencies for the full year.”
Kevin Ozan · CFO
In context
“ugh our drive-thru and digital channels, as well as strong marketing and limited time promotions. China continues to be impacted by both COVID resurgences, which restarted in June and lasted throughout the quarter, and a softening economy. While comps for the quarter were negative, the market continues to build its digital presence as they now have over a 100 million active digital members. In addition, we've accelerated new restaurant growth in China. With over 500 new restaurants already opened this year, we now expect to open roughly 650 restaurants for the year, exceeding our original plan. China remains a critically important market for us, and one where we have confidence in the long-term opportunity. So, we plan to get even more aggressive in opening new restaurants in this market. With our strong overall sales performance for the first three quarters of the year, we now expect system-wide sales to be up in the high-teens in constant currencies for the full year. Now I'll turn it back to Chris to talk more about MCD growth pillars driving our global business. Chris Kempczinski: Thanks, Kevin. Our results are a testament to the focus of our teams on driving growth through our M, C and Ds, and we're confident that momentum will continue. After playing a pivotal role in building out our Fan Truths strategy in U.S., Morgan Stanley is transitioning into the role of Global Chief Marketing Officer. Following the instantly iconic global campaign Morgan developed with BTS, famous orders, again, cross borders with both Russia and Spain launching successful campaigns with local celebrities in the third quarter. These markets leaned into the idea that truly no matter how big or famous you are or where you are in the world, everyone has their go-to McDonald's”
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SEC filings for MCD ↗ · Claim quote is verbatim from the 2021Q3 earnings call.