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CLAIM #39041 · McDonald’s Corporation (MCD) · 2023Q2 earnings call · Jul 27, 2023 · due Dec 31, 2023

So I don't think there's been a difference versus our expectations, which is why we've reiterated that we continue to expect that we will spend between the $100 million to $150 million for the year this year.

Ian Borden · CFO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

Borden: So let me just kind of touch on a few things. Look, I think as we've talked about before, providing support to our franchisees is kind of normal course of business for us. Obviously, the difference this year is just the kind of the pace, the scale and the breadth of the pressures, and as you highlighted, obviously probably most centered in Europe. So I think on the backdrop of all of that, we decided towards the back end of last year to kind of provide some more extensive support, as we talk about always, it's always targeted and temporary. It's always fact based support, that support goes to franchisees that need support. And I think as you've heard me talk a little bit on some of the other questions this morning, that inflation is kind of coming to play the way we predicted it. So I don't think there's been a difference versus our expectations, which is why we've reiterated that we continue to expect that we will spend between the $100 million to $150 million for the year this year. I think the other thing I just want to go back to because it's so important and it's certainly something I strongly believe in. I've given you the example before of as we work through COVID and we provided support at particular moments as we work through that with our franchisees, I think that was fundamental to the exit velocity and momentum that our business had. I think what you can see now if you look at our IOM segment, and Chris talked about this earlier, is the strength of our underlying momentum, the consistency of our momentum. And I believe that's fundamentally connected to decisions like this because they keep our system fully aligned, they keep our system front footed and focused on the opportunities that we have to continue to drive growth in our business. I believe that's a

Verify independently

SEC filings for MCD · Claim quote is verbatim from the 2023Q2 earnings call.