Arcos Dorados (US:ARCO) Businesswire·2024-01-29 21:30Core Insights - Arcos Dorados Holdings, Inc. reported strong systemwide comparable sales growth for Q4 and FY 2023, ahead of its earnings announcement scheduled for March 2024 [1] - The company continues to implement its Three D's Strategy (Digital, Delivery, and Drive-thru), which has significantly contributed to sales growth [2] Sales Performance - Systemwide comparable sales grew solidly in Q4, with Brazil experiencing a rebound in November and December after a challenging October [3] - Digital sales increased nearly 65% in constant currency, with Delivery sales up around 50% in Q4 [3] - Loyalty Program membership surpassed three million by the end of 2023, indicating strong customer engagement [2][3] Restaurant Openings and Capital Expenditures - In 2023, the company opened 81 Experience of the Future (EOTF) restaurants, with a focus on free-standing units [4] - For 2024, Arcos Dorados plans to open 80 to 90 EOTF restaurants, with approximately 90% being free-standing units [4] - Total capital expenditures for 2023 were approximately $350 million, in line with guidance, and projected capital expenditures for 2024 are estimated between $300 million and $350 million [4][6] Regional Performance - Brazil's comparable sales growth for FY 2023 was 9.9%, while NOLAD and SLAD regions reported 10.6% and 90.9% growth, respectively [5] - The company’s strong performance in NOLAD was particularly noted in Mexico and the French West Indies, despite challenges in Panama [3] Company Overview - Arcos Dorados is the largest independent McDonald's franchisee globally, operating over 2,300 restaurants across 20 Latin American and Caribbean countries [9] - The company is committed to community development and providing job opportunities for young people [9]