McDonalds 1Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“The challenging economic environment in which we’re operating impacted our first quarter results.”

“U.S. where comparable sales for the quarter were down 1.2%…In Europe, comparable sales were down 1.1%…Asia Pacific, Middle East, and Africa, where comparable sales were down 3.3%”

“Today, a large percentage of the Asian population eats breakfast away from home. But our breakfast sales as a percentage of full day sales are only 11%. That’s less than half the U.S. average of 25%”

“In China, comparable sales decreased 4.6% for the quarter in part due to the residual effects of consumer sensitivity around the supply chain issue in the chicken industry.”

“we normally don’t talk about weather at all, but we know in the month of April, last quarter – the first quarter of last year, we saw very favorable weather.”

“We’ve historically said 2% to 3% comp would allow us to hold margin”

“I would tell you today, our product pipeline is more robust from a global perspective and the other aspect of this is, we are moving products around the world at a much quicker pace”

“Japan has been one of our most difficult IEO markets as far as negative IEO”