Thursday April 25, 2019, 00:00:00
By Mark Kalinowski
Based on the results of our latest proprietary McDonald’s Franchisee Survey, we retain our Q1E U.S. same-store sales forecast at +3.2%. In the previous 80 iterations of the McDonald’s Franchisee Survey, the survey result has been within 200 basis points of the McDonald’s U.S. same-store sales number reported shortly thereafter 73 times (91.3% of the time), and within 100 basis points of the McDonald’s U.S. same-store sales number reported shortly thereafter 56 times (70.0% of the time).
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Tuesday April 23, 2019, 00:00:00
By Mark Kalinowski
So far this year, McDonald’s (MCD; Buy) U.S. same-store sales seem to be meaningfully outpacing those of its quick-service burger rivals. Why is this? How sustainable is it? While there are multiple reasons for McDonald’s success so far this year — for example, we believe fresh-beef Quarter Pounders and Quarter Pounder line extensions have sold rather well — this report focuses on improvements that we believe have been made in terms of average speed at the drive-thru. We believe there is room for significant improvement on this front, those improvements have started, and there’s plenty more to be had over time — all of which is good news for future same-store sales trends. We reiterate our Buy rating on MCD and note the following:
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Sunday April 7, 2019, 00:00:00
By Mark Kalinowski
We briefly note the following tidbits regarding pizza-sector market-share trends in the U.S., McDonald’s (MCD; Buy), and privately-held Luckin Coffee:
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