Helping to increase performance in Europe, Denis Hennequin, executive vice president, McDonald's Europe, has been promoted to president of McDonald's Europe effective July 1, 2005. Hennequin will succeed Russ Smyth, 48, who has decided to leave McDonald's after 21 years with the company.
In Asia/Pacific, Middle East and Africa comparable sales were down 0.6%, as positive results in Australia were negatively offset by performance in Japan. Overall, worldwide same-store sales rose 1.8 % for the month. Global sales by company-owned and franchise McDonald's restaurants rose 5.9% in May.For the year to date, the company reported a same-store sales increase of 4.9% in the US, 1.2% in Europe, and 3.5% in the Asia/Pacific, Middle East and Africa region. Global same-store sales for the year-to-date period were up 3.7%.
McDonald's Corp. released Q1 earnings in April, reporting a 9% (6% in constant currencies) increase in revenues driven by a global comparable sales increase of 4.6%. Earnings per share were up 40%, or 56 cents, versus 40 cents in 2004.
McDonald's owns more than 30,000 local restaurants in more than 100 countries. Approximately 70% of McDonald's restaurants worldwide are owned and operated by independent franchisees.
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