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Banner Year for McDonald's

OAK BROOK, IL-Comps spiked up 6.9% worldwide for the Golden Arches in 2004.

By Dees Stribling | Updated on January 28, 2005

OAK BROOK, IL-McDonald’s Corp.’s well-publicized efforts to improve its performance seem to be paying off, at least in terms of 4Q 2004 and the whole of 2004. Worldwide comp store sales in the company’s fourth quarter (ended Dec. 31) shot up 5.1% compared with the same period in the previous year, and for the entirety of 2004, comps were up 6.9% when compared with 2003. The company reported earnings per share of $0.31 for the quarter and $1.79 for the year, both up significantly over 2003.

“We had our best global comparable sales performance in 17 years,” noted Jim Skinner, CEO of the company, in Friday’s fourth-quarter earnings call, “because our focus never wavered.” Skinner succeeded to that position in November following the resignation of Charlie Bell, president and CEO since 2002, who was ill with cancer. Bell, 44, died on Jan.16.

“For two years, we’re pursued the strategy of being better, rather than being bigger,” Skinner continued. “It is a winning formula. We served 1.6 million more customers every day over the past 12 months. We are providing a better experience, from faster service and added convenience like cashless payment and extended hours, to cleaner dining environments.”

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