CLAIM #39048 · McDonald’s Corporation (MCD) · 2023Q3 earnings call · Oct 30, 2023 · due Jun 30, 2024
“I mean I think we have spoken, and you heard it in our opening remarks, around the expectation that we're going to continue to see moderation in that top line as inflation levels continue to come down and, obviously, pricing comes down in line with that.”
Ian Borden · CFO
In context
“a couple of builds to what Chris mentioned. I mean, again, I think if you look at the comps for the quarter across IOM at 8.3%, that's a pretty strong indication of the consistency and fundamental underlying momentum that we've got in the segment. We had positive traffic growth in the segment, which I think is an indication of how that momentum is, obviously, from a sales and traffic perspective. And we're continuing to grow market share across the majority of those large markets, which tells us despite, as Chris talked to some of the different macro or consumer environments in those markets, which are obviously varied, obviously, some of those markets, there's a fair bit of pressure. From a macro headwind or consumer headwind, we're continuing to do well versus the landscapes around us. I mean I think we have spoken, and you heard it in our opening remarks, around the expectation that we're going to continue to see moderation in that top line as inflation levels continue to come down and, obviously, pricing comes down in line with that. But I think we're in a really good spot, and I think that just speaks to how our strategic plan around Accelerating the Arches continues to resonate with consumers consistently across the business. Mike Cieplak: Our next question is from David Tarantino with Baird. David Tarantino: Hi. Good morning. My question is on the cost side. I think you lowered your SG&A outlook, at least as a percentage of system sales versus what you had given us last time. And I was just wondering, what changed in that outlook? Is it a matter of some of the savings and accelerating the organizations coming through or delays in investment spending? I guess any context you could give us on that front would be helpful. Thank you. Ian Borden: Good morning, David. Ian, obviously. So let me try and give you some color”
Verify independently
SEC filings for MCD ↗ · Claim quote is verbatim from the 2023Q3 earnings call.