Strong finish in Q1: McDonald’s Philippines poised for full recovery in 2022
With the Philippine economy in an upward trend, quick service restaurant giant Golden Arches Development Corporation (McDonald’s Philippines), majority owned, and operated by McDonald’s Master Franchise Holder, Dr. George T. Yang (Chairman & Founder) and Kenneth Yang (President & CEO), is poised for sustained growth and recovery in 2022.
(From L-R:) McDonald’s PH President and CEO Kenneth S. Yang, McDonald’s Corporation Chief Executive Officer Chris Kempczinski and McDonald’s PH Master Franchise Holder and Chairman, Dr. George T. Yang at the 2022 McDonald’s Worldwide Convention in Orlando, Florida
Right photo. McDonald’s new store in Hermosa, Bataan
Coming into 2022, McDonald’s remained resilient and sustained its recovery momentum in the first quarter of the year despite the Omicron surge in January. It continued its commitment of being a trusted partner of the Filipino community with its safe, quality food, innovative services, focus on supporting its employees and communities in need, and being a partner of the government in navigating through the pandemic.
“We’ve overcome the challenges of the past 2 years because of strategic investments on innovations we made before the pandemic, which enabled us to serve a safe and frictionless omni-channel experience for our customers. We are confident that this will continue to drive our growth in 2022.” says President & CEO Kenneth Yang.
In the first quarter of the year, McDonald’s Philippines achieved double-digit sales growth of 29% versus the same period last year driven by strong same store sales growth of 22%.
The company has also achieved 100% of its sales recovery plan versus 2019.
“With the ease of restrictions that enabled consumer mobility and confidence, we’re very happy to welcome back more of our customers in our stores.” Yang added. Dine-in sales experienced a double-digit increase from February to March of this year and continued to pick up in April as more areas shifted to lower Alert Levels and election campaigns were in full swing.
YTD March, drive-thru and delivery continued its strong performance both experiencing double-digit growth in sales and guest counts.
Growth across all channels is enabled by the company’s initiative to roll-out cashless solutions. To date, 86% of its store base are equipped with cashless.
All set for a strong sustainable recovery
McDonald’s ended 2021 with a 671-store base, opening 36 new stores. With every new McDonald’s store that opens, the company provides employment opportunities with its direct hiring practice, which has been in place since 1981. With direct hiring, even part-time students are given equal opportunities because of a flexible work schedule, allowing them to fulfill their academic requirements while earning.
“With over 40,000 employees systemwide, we will remain committed to working with different stakeholders for our shared goal of the country’s full economic recovery. As McDonald’s continues its growth path in 2022, we will be steadfast in our pursuit of sustainable development, employment and community building with even more vigor,” concludes Mr. Yang.
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