US fastfood company McDonald’s has said its revitalisation plan is delivering improved results but still has a way to go.
Chairman and chief executive officer Jim Cantalupo said McDonald’s “Plan to Win”, which aims to get the fastfood chain’s business back on track and counter falling sales, is driving results beyond the company’s expectations.
“While I’m pleased with our performance, I know we have more work to do,” Cantalupo said.
“Our recent performance proves that operating restaurants better is a strategy that delivers growth and attracts customers,” added Cantalupo. “February marked the tenth consecutive month of positive systemwide comparable sales which we achieved by focusing on our customers and restaurants. Our progress to date has been significant, however, our revitalization will not be complete until we see sustainable improvements around the world. To achieve this kind of growth, we must focus on improving execution and innovation to give our customers a better experience.”
The company has targeted annual systemwide sales and revenue growth of 3-5% in constant currencies for 2005 and beyond. McDonald’s has also targeted annual operating income growth of 6-7% in constant currencies.
Systemwide sales include sales at all McDonald’s restaurants, including those operated by the company, franchisees and affiliates.
