McDonald’s Corporation has posted a 3.4 per cent increase in global comparable sales for the fourth quarter, a significant slowdown compared to the third quarter’s 8.8 per cent growth.

US comparable sales grew 4.3 per cent during the three-month period ended December 31, driven by strategic menu price increases. 

The international operated markets segment also saw a 4.4 per cent improvement, led by sales growths in the UK, Germany and Canada.

Meanwhile, sales in international developmental licensed markets were flat, up only 0.7 per cent versus the 10.5 per cent increase in the third quarter and 16.5 per cent growth in last year’s fourth quarter. The firm said all geographic regions recorded positive performance except the Middle East due to the ongoing war.

Quarterly revenues were up 8 per cent year on year to $6.4 billion, while net income was $2 billion.

For FY23, global comparable sales rose 9 per cent, with an 8.7 per cent increase for the US, 9.2 per cent growth for internationally operated markets, and 9.4 per cent increase for international developmental licensed markets.

The firm’s global comparable sales have increased by over 30 per cent since 2019, which president and CEO Chris Kempczinski attributed to the ‘Accelerating the Arches’ strategy.

Revenues for the year were $25.4 billion, up 10 per cent from FY22, while net income was $8.4 billion.

“By evolving the way we work across the system, we remain confident in the resilience of our business amid macro challenges that will persist in 2024,” Kempczinski added.