McDonald’s posts disappointing quarterly results
By Jessica Wohl, Chicago Tribune | |
McClatchy-Tribune Information Services |
The world's largest restaurant company reported first-quarter sales and profit on Tuesday that missed
CEO
During the company's quarterly conference call, Thompson discussed four ways McDonald's can make improvements in those markets. He wants to strengthen the planning process using consumer insights, strengthen its marketing message, make value offers more consistent and clear for consumers and balance the chain's focus on the core menu items such as Big Mac, Egg McMuffin and French fries.
"It's important to underscore that it will take time for consumers to notice the changes and reward us with increased visits. This is not about a silver bullet," Thompson said.
Shares of McDonald's fell
Analysts remain concerned about the company's performance in
"They don't seem to have the right focus," said
Thompson, who has led McDonald's since
Chief Financial Officer
"They're not digging deep enough into the issues of the company to be able to come up with the right answers," said Penney.
McDonald's earned
"There is nothing to panic about there," Edward Jones analyst
The company said it has raised prices during the past year to help mitigate such concerns, including a price hike of about 3 percent in
Global sales at McDonald's restaurants open at least 13 months rose 0.5 percent during the quarter, coming in just ahead of analysts' forecast of a 0.4 percent increase, according to Consensus Metrix.
Same-store sales in
The company suggested that things could be looking up, as global same-store sales in April should be "modestly positive." It did not give a forecast for U.S. sales.
Thompson largely shrugged off the competition from rivals in breakfast, a hot topic after
Breakfast is a key time for McDonald's and its strongest part of the day in terms of profits, he said. He said McDonald's breakfast gets "very, very high consumer scores."
Follow @JessicaWohl Follow @chibreakingbiz
MCD Chart
MCD data by YCharts
___
(c)2014 the Chicago Tribune
Visit the Chicago Tribune at www.chicagotribune.com
Distributed by MCT Information Services
Wordcount: | 874 |
La Grange park budget includes expansion of before-, after-school programs
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News