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McDonald's to stop reporting monthly same-store sales after June


    (Reuters) - McDonald's Corp will stop reporting monthly same-store sales after June to focus on longer-term actions as part of its turnaround plan, the newly-appointed chief executive of the world's biggest restaurant chain said.

    The company announced a turnaround plan this month, which includes reorganizing business units, selling restaurants to franchisees and cutting costs in a bid to turn the chain into a "modern, progressive burger company."

    "Disclosing comparable sales as part of our quarterly reporting is consistent with nearly all retailers and will provide a greater understanding of McDonald's sales results in the context of the company's overall financial performance," CEO Steve Easterbrook said at the Sanford Bernstein analysts' conference on Wednesday.

    McDonald's last monthly same-store sales report, a closely-watched metric to gauge a retailer's financial health, will be for June and will be issued when the company reports second-quarter results.

    Same-store sales at McDonald's restaurants globally fell 0.6 percent in April, its 11th straight monthly decline.

    The company's shares were up 0.6 percent at $99.02 in morning trading on the New York Stock Exchange.

    (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio D'Souza)