Beefier Results

McDonald's Corp. (Oakbrook, Ill.) says its ongoing revitalization efforts are paying off, in the form of healthy sales and profits.

The fast-good giant's revenues for the fourth quarter ended December 31 hit $4.55 billion, a 17 percent increase over the same period a year earlier, and its profit for the period totaled $125.7 million, reversing a $343.3 million loss a year earlier.

Chairman and ceo Jim Cantalupo said, “In 2003, we eliminated projects not directly impacting our customers' experience, narrowed our non-McDonald's brand activities, aligned our system around a single action plan and re-established McDonald's marketing leadership through the introduction of our first-ever global brand direction, 'i'm lovin' it.' There is now solid evidence that our aggressive actions are paying off.”

As for 2004, Cantalupo says, “Improving operations at each of our existing restaurants will remain our top priority. As a result, we will spend more on re-imaging restaurants, while opening a similar number of units in 2004 as in 2003. Our capital expenditures for the year are targeted at $1.5 billion to $1.6 billion.”

McDonald's operates more than 30,000 restaurants in 119 countries.