McDonald's On Road to Recovery

19 January 2004

Like King Arthur, who according to legend, slumbers ready to awake to his country's call in its hour of need, former McDonald's retiree Jim Cantalupo, resurrected thirteen months ago as chairman and chief executive [WAMN: 06-Dec-02] , has delivered a remarkable turnround in the burger behemoth's fortunes.

Little more than a year after posting its first quarterly loss in forty-seven years, Cantalupo reported that sales across the global chain (including franchises and affiliates) soared year-on-year by 17.1% in December and 16.6% in Q4 2003. In constant currency terms, sales were up 9.1% and 9.3% for the month and quarter respectively.

Whooped Canatlupo (with justification): "Throughout 2003, we worked to increase our relevance to customers around the world by enhancing our restaurant experience, food taste, menu variety, and leadership marketing."

He continued: "The US market benefited from "service, value and menu initiatives, as well as our reinvigorated marketing approach. As we move into 2004, we will continue to revitalize our business, building upon the solid foundation established in 2003."

McDonald's full year results are due on January 26.

Data sourced from: Financial Times; additional content by WARC staff