McDonald's posts strong growth in 2023

The global comparable sales of McDonald's Corporation have grown 9 percent for 2023 and over 30 percent since 2019, the fast food restaurant chain reported on Monday, reported Xinhua.

To be specific, McDonald's sales in the United States increased 8.7 percent in 2023; sales of International Operated Markets segment rose 9.2 percent; and that of International Developmental Licensed Markets segment gained 9.4 percent.

The Chicago-based fast food chain's consolidated revenues increased 10 percent in 2023; systemwide sales grew 10 percent; and consolidated operating income 24 percent.

In the fourth quarter of 2023, McDonald's global comparable sales increased 3.4 percent. To be specific, sales in the United States grew 4.3 percent; that of International Operated Markets segment increased 4.4 percent; and that of International Developmental Licensed Markets segment gained 0.7 percent.

McDonald's consolidated revenues increased 8 percent in the fourth quarter; systemwide sales increased 6 percent; and consolidated operating income grew 8 percent.

"Strong execution of our Accelerating the Arches strategy has driven over 30 percent comparable sales growth since 2019 as our talented crew members, and the industry's best franchisees and suppliers have demonstrated proven agility with a relentless focus on the customer," McDonald's President and CEO Chris Kempczinski said in a statement posted on its website on Monday. "By evolving the way we work across the System, we remain confident in the resilience of our business amid macro challenges that will persist in 2024."

Being the world's largest fast food restaurant chain, McDonald's serves over 69 million customers daily in over 100 countries in more than 40,000 outlets as of 2021.