OAK BROOK, Ill., July 23, 2015 /PRNewswire/ -- McDonald's Corporation today announced results for the second quarter ended June 30, 2015.
Second quarter results included:
- Global comparable sales decrease of 0.7%, reflecting negative guest traffic in all major segments
- Consolidated revenues decrease of 10% (increase of 1% in constant currencies)
- Consolidated operating income decrease of 16% (6% in constant currencies), due in part to approximately $45 million of restructuring charges incurred to optimize the Company's global operating structure
- Diluted earnings per share of $1.26, a decrease of 10% (1% in constant currencies)
- Returned $2.5 billion to shareholders through share repurchases and dividends, bringing the year-to-date return to shareholders to $3.9 billion in connection with our 3-year target to return $18-20 billion to shareholders by the end of 2016.
"We have made meaningful progress since announcing the initial steps of McDonald's turnaround plan in early May," said McDonald's President and Chief Executive Officer Steve Easterbrook. "To position the business for long-term growth, we've undergone significant organizational change and are streamlining our global resources to improve our efficiency and effectiveness. While our second quarter results were disappointing, we are seeing early signs of momentum. Looking ahead to third quarter, we expect positive global comparable sales led by growth in our newly-created International Lead Market segment and China's continuing recovery from the 2014 APMEA supplier issue. I am confident that we will create the transformation necessary for McDonald's to become a modern, progressive burger company delivering a contemporary restaurant experience."
In the U.S., second quarter comparable sales decreased 2.0%, reflecting negative guest traffic as the featured products and promotions did not achieve expected consumer response amid ongoing competitive activity. Operating income for the quarter decreased 6%, reflecting the soft, top-line performance. Going forward, local market tests around all-day breakfast and menu simplification will continue as part of the work underway to enhance the experience for over 25 million U.S. customers who visit McDonald's each day. View the full report here.
