Red Meal*** On February 5, McDonald's announced its results for the fourth quarter of 2023. According to the financial report, McDonald's reported revenue of 64 in the fourth quarter100 million US dollars, an increase of 81%；Net profit was 20US$3.9 billion, a year-on-year increase of 7%; Diluted earnings per share of 2$8, compared to $2 in the same period last year$59.
In terms of sales, in the fourth quarter of 2023, McDonald's global same-store sales increased by 34% with growth in all segments; For the full year of 2023, McDonald's global same-store sales increased by 90%。Among them, China's international franchise market sector (IDL) is growing the fastest.
McDonald's official website.
As of December 31, 2023, McDonald's China had 5,903 stores, with 925 new stores added for the year, contributing 67% of the new stores in the international franchise market segment.
At the earnings briefing, McDonald's CFO Ian Borden also affirmed the "China speed". "Thanks to the China team, we opened around 1,000 stores in 2023, which is a record high for us. ”
McDonald's Global CEO Chris Kempczinski said, "Overall, we had a very good 2023 performance in China, and we are satisfied with the performance of our business in China, where we have seen strong growth. ”
Referring to the store opening plan in 2024, McDonald's said that it expects to add 1,600 net stores around the world this year. At the same time, Ian Borden pointed out that as McDonald's growth levels return further to normal, same-store sales growth is expected to slow down in 2024, approaching the historical level of 3%-4%.
According to the big data of red meals, the size of China's Western-style fast food market is expected to exceed 200 billion yuan in 2023. In this context, not only McDonald's, but also many Western-style fast food brands have accelerated their staking in China.
For example, Yum China, although it has not yet announced KFC's 2023Q4 results, in fact, Yum China announced that KFC reached 10,000 stores in December last year. McDonald's also planned to increase the number of restaurants in China from 6,000 to 10,000 by 2028.
In addition to McDonald's and KFC, other "foreign fast food" are also running collectively to accelerate the expansion of stores. For example, Burger King has set a plan to open 200 new restaurants in the Chinese market every year starting in 2023; Subway China plans to open no less than 4,000 new restaurants over the next 20 years.
Picture worm creativity.
It is worth mentioning that in terms of market expansion strategy, a number of "foreign fast food" have all set their sights on the sinking market.
According to Red Meal Big Data, as of October 2023, KFC has more than 3,000 stores in third-tier cities and below, making it the second-largest Western-style fast food brand in the sinking market, second only to Wallace. McDonald's has more than 1,000 stores in third-tier cities and below, which is not much different from the number of Tex stores that have been deeply involved in the sinking market for many years.
At the same time, "Houlang" Tustin has expanded its stores frantically in the past two years, with more than 2,000 stores in third-tier cities and below, and the number of stores in the sinking market ranks third in the Western-style fast food category.
It is foreseeable that as giants such as KFC and McDonald's go deep into the sinking market, the competition for Western-style fast food in the sinking market will be more fierce in the future.
Integration: Mai Yongyi, Red Meal Network; Editor: Li Tang.