CLAIM #39119 · McDonald’s Corporation (MCD) · 2024Q2 earnings call · Jul 29, 2024 · due Jul 29, 2025
“We absolutely are committed to getting this business back to growth foundation of that is the value platforms that we've talked about, but we need to do more on menu innovation.”
Chris Kempczinski · CEO
In context
“run compelling affordable options like that, we know we're able to draw consumers back and we know we are best positioned to be able to do that. So that's certainly what we're focused on. As I said, certainly don't claim that we can predict. I think when the environment will turn or when the consumer will turn. I think what we're focused on is making sure that we're winning in the current context in each and every one of our markets. And that we're positioned to accelerate our momentum as this challenging environment begins to turn in each and one of our markets as we look forward. Chris Kempczinski: Yes. The only thing I'd add is McDonald's at its essence, this is a growth business. And so we're not accepting negative comps as just sort of the way it is because of the consumer headwinds. We absolutely are committed to getting this business back to growth foundation of that is the value platforms that we've talked about, but we need to do more on menu innovation. We've got more levers that we can do on digital and certainly getting our marketing to be more of a contributor as it was last year. I think all of those things need to work in combination to get the business back to where we know its rightful place is. Mike Cieplak: Our next question is from Brian Bittner with Oppenheimer. Brian Bittner: Thanks. Good morning. Chris, you said in your prepared remarks that your value leadership gap versus the competition has shrunk. And I'm just curious how are you measuring this gap what informs you that it has shrunk. And just secondly, what gives you the confidence you can reignite this gap with value at a time when everyone seems to be getting much more aggressive on value? Is it the success you're seeing with the $5 deal or what else is feeling the co”
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SEC filings for MCD ↗ · Claim quote is verbatim from the 2024Q2 earnings call.