McDonald’s has reported its highest global comparable sales increase in a decade, driven in part by a focus on digital transformation.
"We once again served more customers the food they crave, marking three consecutive years of global comparable guest count growth," said McDonald’s CEO Chris Kempczinski in his first earnings call as CEO of the foodservice company.
Global comparable sales, which represent the number of transactions at all restaurants, whether operated by the company or by franchisees, in operation at least thirteen months increased by 5.9% globally, beating analysts consensus of 5.3%.
In the U.S. comparable sales increased by 5% for the year, driven in part by increased menu prices and what it calls the "experience of the future," which is essentially a restaurant transformation which includes remodelling stores to include touch screen ordering systems, as well as a focus on delivery via Uber Eats and the McDonald’s app and mobile ordering to reduce wait times.
McDonald’s net income for the year ended December 2019 totaled $6 billion, up from $5.9 billion during the same period in 2018.