McDonald's Corporation MCD will stop reporting its monthly same-store sales metrics. The company will report its May sales metric on June 8, while June's sales metrics will be included in the company's second quarter report.
That will mark the last time the data will be disclosed.
A McDonald's spokesperson confirmed the news, and offered the following quote from the company's CEO Steve Easterbrook:
"To focus our activities and conversations around the strategic, longer-term actions we are taking as part of our plan, we have decided to discontinue our monthly sales disclosure, effective July 1st. Disclosing comparable sales as part of our quarterly reporting is consistent with nearly all retailers and will provide a greater understanding of McDonald's sales results in the context of the Company's overall financial performance…and it will align with the our longer-term view of building shareholder value."
McDonald's reported in early May that its April comparable-store sales fell 0.6 percent which turned out to be better than the 1.8 percent decline analysts were expecting. By region, U.S. comparable sales fell 2.3 percent, Europe comparable sales rose 1 percent while Asia/Pacific Middle East and Africa (APMEA) comparable sales fell 3.8 percent.
Bloomberg noted that McDonald's has reported 11 straight months of declining global comparable store sales. Easterbrook has already outlined a turnaround plan in the hopes of reversing sales declines.
The executive's new game plan focuses on quality, enhanced service, cost cutting, re-aligning its geographic regions, re-franchising 3,500 restaurants, returning up to $20 billion to shareholders by the end of 2016 among other initiatives to transform its perception among consumers.
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