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CLAIM #39083 · McDonald’s Corporation (MCD) · 2023Q4 earnings call · Feb 5, 2024 · due Dec 31, 2024

We were happy with how our business performed in China. We're seeing strong growth there. We also built 1,000 restaurants in China. So we're very much on track from our development aspirations and we would expect to do something similar in 2024 from that standpoint.

Chris Kempczinski · CEO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
we would expect to do something similar in 2024 from that standpoint [building ~1,000 restaurants in China]
Reported
we delivered on our 2024 restaurant openings targets across the globe

In context

focused on supporting our team members in the region, working with the communities that we do business in and working closely with the DL partners to get through this together. And I'm very, very confident that we'll do that. Mike Cieplak: Our next question is from Eric Gonzalez with KeyBanc. Eric Gonzalez: Hi. Thanks for the question. I'm wondering maybe if you could comment on China specifically. I know it's not a huge part of your profit today, but you do have some big growth aspirations in that country. So if you could comment on some of the macro challenges that you're seeing and how they're impacting results in that country? And maybe talk about how the brand is positioned to gain share in that market. Thanks. Chris Kempczinski: Sure. Well, overall, we had a very good 2023 in China. We were happy with how our business performed in China. We're seeing strong growth there. We also built 1,000 restaurants in China. So we're very much on track from our development aspirations and we would expect to do something similar in 2024 from that standpoint. So overall headline is feel good about what we're seeing in China and the progress in growth. Certainly, in China, as you've read about and seen it with a number of other companies, consumer sentiment in the country is a little bit more under pressure right now. And that is leading to -- in Q4, in particular, we saw the environment get more promotional. We didn't necessarily follow that, but certainly the environment is getting more promotional. And our focus is on making sure that we remain competitive. So we're going to do what we need to do to maintain our competitiveness in that market. But if you think about the overall macro trends in China, I talked about this at Investor Day, we certainly think that we're going to continue to see good comp performance in that market as consumer we

Verify independently

SEC filings for MCD · Claim quote is verbatim from the 2023Q4 earnings call.