The company will provide sales figures for June in its second quarter earnings report, then stop providing the data, according to a spokesperson.
"To focus our activities and conversations around the strategic, longer-term actions we are taking as part of our plan, we have decided to discontinue our monthly sales disclosure, effective July 1st," said CEO Steve Easterbrook, speaking about the announcement at a conference in New York.
He continued: "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…and it will align with the our longer-term view of building shareholder value."
McDonald's is not the first company to part ways with the monthly sales release. In 2009, Wal-Mart discontinued the practice, saying it would allow them to focus on the long-term view. Fellow restaurant chains like Yum! Brands, which owns Taco Bell, Pizza Hut and KFC, and Chipotle do not provide monthly sales updates.
This announcement comes as the fast food chain works to execute its turnaround plan meant to revive flagging sales under new CEO Steve Easterbrook.
Indeed, sales fell 11% during McDonald’s most recent quarter, marking the continuation of a stubborn sales slump that has persisted at home and abroad. In McDonald's most recent monthly sales report, for April, the company said worldwide sales fell by 0.6%.
Shares of McDonald's are up 5% this year, but down 2% over the last 12 months.
