McDonald's reports 1.9% growth in global like-for-like sales

Following the end of the first financial quarter on 31st March 2024, the brand has reported that global like-for-like sales were up by 1.9%. With McDonald's UK seeing positive growth. 

Systemwide sales to loyalty members across 50 loyalty markets were nearly $25bn for the trailing 12-month period and more than $6bn for the quarter.

Speaking on the growth

McDonald's chief executive Chris Kempczinski said: “Our global comparable sales growth in the first quarter marks 13 consecutive quarters of positive comparable sales growth with 30% growth over the last four years. As consumers are more discriminating with every dollar that they spend, we will continue to earn their visits by delivering leading, reliable, everyday value and outstanding execution in our restaurants."

He continued, "As we look to the rest of 2024 and beyond, we remain focused on leveraging the competitive advantages within our Accelerating the Arches plan and growing quick service restaurant market share to drive long-term growth.” 

Like-for-like sales in the quarter for the international operated segment, including the UK were up 2.7%. McDonald’s said segment performance was driven by positive comparable sales in most markets, led by the UK and Germany, partly offset by negative sales in France.

In the international developmental licensed segment, first quarter like-for-like sales were down 0.2% “as the continued impact of the war in the Middle East more than offset positive comparable sales in Japan, Latin America and Europe”. Revenue in the quarter increased to $6,169m from $5,898m the previous year.

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