OAK BROOK, Ill., July 22, 2014 /PRNewswire/ -- McDonald's Corporation today announced results for the second quarter ended June 30, 2014, reflecting higher revenues and earnings per share for the quarter.
"The McDonald's System is committed to creating the best experience for our customers by offering great-tasting food and beverages and a memorable and contemporary experience," said McDonald's President and Chief Executive Officer Don Thompson. "During the quarter, we evolved our strategic Plan to Win framework to enhance our focus on the customer through insights, planning and actions. To reignite momentum over the next 18 months, we're focused on fortifying the foundational elements of our business by concentrating our efforts on compelling value, marketing and operations excellence to become a more relevant and trusted brand."
Second Quarter results included:
- Global comparable sales were relatively flat, reflecting higher average check and negative guest traffic in all major segments
- Consolidated revenues increase of 1% (1% in constant currencies), benefiting from expansion
- Consolidated operating income was flat (decrease of 1% in constant currencies)
- Diluted earnings per share of $1.40, an increase of 1% (1% in constant currencies), benefiting from a decrease in diluted weighted average shares outstanding
- Returned $1.6 billion to shareholders through dividends and share repurchases, in connection with our $18-$20 billion, 3-year cash return target
In the U.S., second quarter comparable sales decreased 1.5% while operating income rose 1%. Results for the quarter reflected negative comparable guest traffic amid ongoing broad-based challenges. Looking ahead, McDonald's U.S. is intent on strengthening the overall customer experience to effectively position the segment for long-term growth. Key areas of focus include service excellence, enhanced marketing, and value, core menu and breakfast daypart initiatives. Full report.