McDonald's Reports November Sales
OAK BROOK, Ill.
Dec 11, 2000
McDonald's Corporation (NYSE: MCD) reported today that Systemwide sales for November 2000 were $3.2 billion, an increase of 10% on a constant currency basis* compared with November 1999. For the first eleven months of 2000, Systemwide sales were $36.8 billion, reflecting an 8% constant currency increase.
Segment details of month and year-to-date November 2000 sales compared with the same periods of 1999 are:
Segment Highlights 2000 1999 Increase/(Decrease) Dollars in millions As In Constant Reported Currencies* Month ended November 30 U.S. $1,570.6 $1,473.8 7% n/a Europe 670.6 753.8 (11) 5% Asia/Pacific 559.7 526.1 6 14 Latin America 144.9 129.5 12 13 Other 216.0 153.9 40 46 Systemwide Sales $3,161.8 $3,037.1 4% 10% Year-to-date November 30 U.S. $17,967.5 $17,413.7 3% n/a Europe 8,512.3 8,728.9 (2) 10% Asia/Pacific 6,435.7 5,816.4 11 9 Latin America 1,613.7 1,494.7 8 9 Other 2,244.0 1,661.8 35 36 Systemwide Sales $36,773.2 $35,115.5 5% 8% n/a Not applicable * Information in constant currencies excludes the effect of foreign currency translation on reported results, except for hyperinflationary economies, such as Russia, whose functional currency is the U.S. Dollar.
Jack M. Greenberg, McDonald's Corporation Chairman and CEO, said, "Sales in certain European countries were tempered by the decline in consumer confidence regarding the safety of the European beef supply. These safety concerns have nothing to do with McDonald's, because of our product specifications. In fact, our safety and quality standards lead the industry and provide the benchmark for safe food around the world. Yet, our beef sales were impacted in some countries and there was a shift to more sales of our non-beef products."
Based on year-to-date performance and our current outlook for December, we expect annual earnings per share growth to be 10 - 11% in constant currencies for 2000. This is within our previously stated annual EPS growth target of 10 - 15%, excluding the effect of foreign currency translation.
A recorded message providing perspective on November sales will be available for a limited period beginning today at 8 a.m. Central Standard Time by calling 630-623-7253.
McDonald's Corporation will be conducting meetings with investors today. The meetings will be broadcast live over the Internet today at approximately 12:00 Noon and 3:15 p.m., Central Standard Time. Interested parties are invited to listen by logging on to http://www.mcdonalds.com/corporate/investor and selecting "Investor Webcasts" under "Latest News."
McDonald's Corporation is the largest and best-known food service retailer with over 28,000 restaurants serving more than 43 million people a day in 120 countries. On any day, even as the market leader, McDonald's serves less than one percent of the world's population.
Certain forward-looking statements are included in this report. They use such words as "may," "will," "expect," "believe," "plan" and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this report. These forward-looking statements involve a number of risks and uncertainties. The following are some of the factors that could cause actual results to differ materially from those expressed in or underlying our forward-looking statements: the effectiveness of operating initiatives and advertising and promotional efforts, the effects of the Euro conversion, as well as changes in: global and local business and economic conditions; currency exchange (particularly the Euro) and interest rates; food, labor and other operating costs; political or economic instability in local markets; competition; consumer preferences, spending patterns and demographic trends; legislation and governmental regulation; and accounting policies and practices. The foregoing list of important factors is not exclusive.
The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.http://www.newscom.com/cgi-bin/prnh/19990916/MCDLOGO
SOURCE: McDonald's Corporation
Contact: Investors, Mary Healy, 630-623-6429, or Media, Anna Rozenich,
630-623-7316, both of McDonald's