McDonald's Velocity Drivers Intact, Should Help to Placate Franchisee Questions Heading Into 2019
Our positive outlook for McDonald's remains in place following its third-quarter update, as recent operational improvements continue to lift global comps (up 4.2%) and refranchising efforts pushing operating margins to the mid-40s (45% for the quarter, with expectations of 43% for the full year). While we recognize U.S. franchisee concerns about the efficacy of Experience of the Future (EOTF) investments and margin pressures from value platforms--the strength of the McDonald's franchisee system ...McDonald's franchises and operates McDonald's restaurants. The company's menu includes hamburgers and cheeseburgers, Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, several chicken sandwiches, Chicken McNuggets, wraps, fries, shakes, McFlurry desserts, sundaes, soft serve cones, pies, soft drinks, coffee, McCafe beverages and other beverages. The company's restaurants in the United States and various international markets provide a full or limited breakfast menu. Breakfast offerings may include Egg McMuffin, Sausage McMuffin with Egg, McGriddles, biscuit and bagel sandwiches and hotcakes. The restaurants also sells a variety of other products during limited-time promotions
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