McDonald's Corp (MCD) Management Presents at JPMorgan Gaming, Lodging, Restaurant & Leisure Forum Conference (Transcript)

Mar. 15, 2019 2:34 PM ETMcDonald's Corporation (MCD)
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McDonald's Corp (NYSE:MCD) JPMorgan Gaming, Lodging, Restaurant & Leisure Forum March 15, 2019 11:20 AM ET

Company Participants

Kevin Ozan - Corporate EVP & CFO

Conference Call Participants

John Ivankoe - JPMorgan Chase & Co.

John Ivankoe

Okay. Good morning, everyone. It's John Ivankoe with JP Morgan. Welcome back to the Friday morning session of JP Morgan's Management Access Forum in Las Vegas. I'm very happy to have McDonald's headline this morning with us. I think McDonald's Corporation certainly needs no introduction. And the company's successful CFO, Kevin Ozan, is joining us today, and we look forward to an event-filled, and hopefully, condensed conversation that covers a lot of different ground across the world.

Question-and-Answer Session

Q - John Ivankoe

So let me just jump right in, if I may. Firstly, in the U.S., there's obviously a lot of initiatives in 2018. The $1 $2 $3, fresh beef rollout, delivery, EOTF implementation, many initiatives you've put onto the franchise community. Any one in themselves in a normal year would have been a lot. Could we talk about in hindsight, in 2018, where you feel these initiatives were the most successful, what is needed for -- opportunity for improvement going forward? And which of those initiatives do you think have an opportunity to be more impactful in the future as time gives you the opportunity to optimize?

Kevin Ozan

Sure. First of all, thanks for having me here today. I appreciate it. Good morning to everybody. So 2018 was an interesting year for us in the U.S. As you just mentioned, John, it was a year of significant change, a lot of hard work in the U.S. and a lot of initiatives, substantially more than what I would call for us a normal year. So if you think about it, at the beginning of January, we introduced our new value platform, $1 $2 $3 menu. I'd say that worked

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