McDonald’s Japan has lost 29.2 billion yen in the first nine months of this year, roughly US$236.8 million.
However, the beleaguered fast food business, which launched a Business Revitalisation Plan involving closing 131 stores in April, says it has arrested its sales decline.
Same store sales in the third quarter of this year slid by four per cent – a fraction of the massive 32.3 per cent drop in its horror first quarter.
In the first nine months of the current year, system wide sales have decreased by 70.1 billion yen (US$568 million) to 273.9 billion yen ($2.221 billion).
While sales and profit have declined significantly, the company said the BRP is progressing “broadly in accordance with schedule, and the business is on the path to recovery”.
On October 26, McDonald’s Japan launched ‘Otegoro Mac’, part of a “Shin Otegoro Sengen” initiative designed to provide better, more consistent every day value for money. The company says that has been well received by customers to date.
“We will continue to focus on ensuring food quality while making additional progress on our modernisation plan, delivering customer visible points of change, accelerating business recovery, and achieving long-term growth.
“We are committed to providing customers the best possible dining experience by delivering the highest possible level of quality, service and cleanliness, with an unwavering focus on
building stronger relationships in local communities.”
McDonald’s Japan’s new vision is of “becoming a modern burger restaurant that connects with our customers”.