McDonald's doesn't expect inflation to get cool this year despite Wall Street's predictions for fourth quarter earnings.
In a press release, Chief Executive Chris Kempczinski said that the fast food chain's accelerating the Arches strategy helped drive over 10% comparable sales growth and 5% in comparable guest count growth in 2022.
Kempczinski said that while we expect short-term inflation pressures to continue in 2023, we remain highly confident in Accelerating the Arches, which now includes a greater emphasis on new restaurant openings.
According to the company release, the Accelerating the Arches project will work alongside the recently announced Accelerating the Organization initiative, enabling the restaurant to be faster, more innovative and efficient.
Global comparable sales went up 12.6%, and there were improvements in all areas, including a 10.3% pop in U.S. sales and a 5% jump in systemwide sales.
In 2022, comparable sales in the US went up 10.9%, including a 5.9% increase in the U.S. and a 13.3% jump in international operated market segments.
Sales of the systemwide were 5% higher on the year, while revenues were flat.