“This includes new restaurant development as we look to accelerate the pace of openings and grow our footprint to 50,000 restaurants by the end of 2027.”

In context

“ed this morning, top line results generated nearly $3.5 billion of restaurant margin for the quarter, an increase of about 4% in constant currency. This was partially offset by higher G&A costs as we continue to invest in our strategic transformation efforts and growth opportunities such as digital, as well as costs associated with our biennial Worldwide Convention that Chris mentioned. Our adjusted effective tax rate was 19.9% for the quarter. As we've talked about before, driving long-term growth requires making the right strategic and forward-looking investments. The resilience of our business and our overall financial strength put us in the ideal position to invest in critical areas that deliver against customer needs as well as unlock efficiencies for our people and our business. This includes new restaurant development as we look to accelerate the pace of openings and grow our footprint to 50,000 restaurants by the end of 2027. Development for the year is off to a strong start across markets, including in China, where we recently opened our 6,000th restaurant, and we are pacing on track against our global plan. In addition to restaurant development, we're also investing for long-term growth in areas like digital and technology as well as our transformation efforts within our Global Business Services organization. By leveraging the full strength of our global scale, we'll build new and modern capabilities and ultimately unlock speed and innovation for our entire McDonald's system. Despite the headwinds that persist, we remain well positioned with the unique strength and scale that only the McDonald's system can provide. As Chris talked about upfront, we are focused on how we can further leverage this across o”