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May 28, 2002

USA: McDonald’s confident of international expansion

McDonald’s chairman and CEO Jack Greenberg said the group intends to maintain its robust rate of growth despite recently limp results Greenberg said the percentage of income McDonald’s generates from foreign operations, currently just over 50%, will continue to rise despite ongoing economic problems in some regions. Speaking to a meeting of shareholders, Greenberg reiterated that the company is still on track to open 1,300 to 1,400 new restaurants this year – of which all but 350 will be outside the US.

McDonald’s chairman and CEO Jack Greenberg said the group intends to maintain its robust rate of growth despite recently limp results

Greenberg said the percentage of income McDonald’s generates from foreign operations, currently just over 50%, will continue to rise despite ongoing economic problems in some regions. Speaking to a meeting of shareholders, Greenberg reiterated that the company is still on track to open 1,300 to 1,400 new restaurants this year – of which all but 350 will be outside the US.

These new openings will push the world’s largest restaurant over the 30,000-outlet mark. Most of the new opening activity will come in more stable international market, such as China, where 122 new restaurants will be opened to expand the current network of 430. Meanwhile, operations in more troubled regions such as Latin America are being pinned back.

McDonald’s is also planning to expand its other brands, which it acquired recently, including Donatos pizza, Chipotle Mexican Grill, Boston Market and Pret A Manger. However, Greenberg said the McDonald’s brand “is still our largest and best growth opportunity”.

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