CLAIM #39024 · McDonald’s Corporation (MCD) · 2023Q1 earnings call · Apr 25, 2023 · due Dec 31, 2023
“So I think as we look at it, delivery is going to remain an important part of the business, but it's certainly not going to be the degree of growth driver that it has been historically, which goes back to why having a very balanced playbook, where you're getting growth from multiple levers is so important.”
Chris Kempczinski · CEO
In context
“comps during the quarter. And clearly, that's one of the more expensive ways to access your brand, but it does seem like consumers thus far have been willing to pay for convenience. So I just -- given the base case for a mild recession, I'm wondering what level of confidence that you might have that this channel could continue to be a driver of comp growth? Chris Kempczinski: Thanks for the question. We are -- we have seen, as you know, historically very strong performance from delivery. I think it is fair to say that the growth of delivery whether that's a function of it just being at a large number now or if it might, in fact, be some of the consumer pressures, but the growth of delivery has certainly slowed. There is still growth, but it's not nearly the growth that we saw previously. So I think as we look at it, delivery is going to remain an important part of the business, but it's certainly not going to be the degree of growth driver that it has been historically, which goes back to why having a very balanced playbook, where you're getting growth from multiple levers is so important. Mike Cieplak: Our next question is from Jon Tower with Citi. Jon Tower: Great. Thanks for taking the question. Just curious on the $100 million to $150 million in rental abatement that you're offering to franchisees in Europe, how many of those franchisees have actually taken you up on the offer? And what you might be asking of them in return going forward? Are you maybe asking them to hold the line on pricing to the extent you can? Ian Borden: Yes. Good morning, Jon. Thanks for the question. I think I just would reiterate how we've talked about that support previously, which is, I think it's targeted, it's temporary. And it's designed to go to the owner operators that are most in need. As we've talked about, I think the more acute kind of headwinds that our system is dealing with are mai”
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SEC filings for MCD ↗ · Claim quote is verbatim from the 2023Q1 earnings call.