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CNBC Excerpts: CNBC Exclusive: Carl Quintanilla Sits Down with McDonald's CEO Don Thompson for a Rare Interview Today on "Squawk on the Street"

When: Today, Friday, April 26th

Where: CNBC's "Squawk on the Street"

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with McDonald's CEO Don Thompson today on CNBC's "Squawk on the Street." Here is a link to embeddable video of the interview: http://video.cnbc.com/gallery/?video=3000164416.

All references must be sourced to CNBC.

DON THOMPSON ON THE ECONOMY
WE'VE SEEN KIND OF THESE STARTS AND STOPS OF A RECOVERY, AND I THINK EARLIER RETAIL SALES EARLIER THIS YEAR SHOWED THAT THINGS WERE SLOWING JUST A BIT. YOU HAVE TO LOOK AT IT AND TAKE IT WITH A BIT OF A GRAIN OF SALT. WE DO SEE THE IMPACT POSSIBLY OF A PAYROLL TAX, I THINK IT'S STILL A TOO EARLY TO TELL, BUT YOU STILL HAVE A LITTLE BIT OF HESITANCE RELATIVE TO CERTAIN INVESTMENTS BACK TO THE BROADER ECONOMY AND RELATIVE TO JOBS.

DON THOMPSON ON SERVICE
WE FOCUS ON FAST. WE FOCUS ON ACCURATE, FRIENDLY. WE FOCUS FRIES, FOOD PRODUCTS AND THE QUALITY OF IT AND CLEANLINESS. THOSE THINGS WILL NEVER CHANGE. SO FOR US, THAT'S A DAY TO DAY FOCAL POINT THAT WE HAVE TO CONTINUE TO TRY TO GET BETTER FOR OUR CUSTOMERS.

DON THOMPSON ON STRIVING FOR MORE
LAST YEAR I WAS NOT SATISFIED AND MANY PEOPLE HEARD ABOUT THAT. I THOUGHT THAT WE WERE NOT ADDRESSING THE NEEDS OF CONSUMERS AND WE WEREN'T BRINGING ENERGY TO THE MARKETPLACE. THAT'S OUR REPORT CARD. THAT'S MY REPORT CARD, BUT THIS YEAR WE WON'T GET THE SAME GRADES TWICE IN A ROW. WE ARE BRINGING NEW FOOD NEWS AND EXCITING THINGS TO OUR CUSTOMERS.

DON THOMPSON ON COFFEE

I WILL SAY WHEN IT COMES TO RESONATING WITH CUSTOMERS, WE SELL MORE DRIP COFFEE THAN ANYONE ELSE IN THE UNITED STATES. SO WE THINK WE RESONATE QUITE WELL THERE. WE ENTERED INTO A NEW SPACE IN ESPRESSO-BASED COFFEES AS WELL AS ICE BLENDED DRINKS AND THAT IS A PLATFORM FOR US THAT'S GOING TO BUILD YEAR OVER YEAR IT HAS ALREADY. IT WILL CONTINUE TO BUILD SO WE ARE EXCITED ABOUT THE PLATFORM AND YOU WILL HEAR US TALKING MORE ABOUT IT THIS YEAR.

DON THOMPSON ON EUROPE
THE UK FOR US, RUSSIA, HAVE BEEN FAIRLY STRONG MARKETS, BUT ACROSS EUROPE YOU HAVE A BIT OF A MIXED BAG. WE DON'T SEE THAT CHANGING ECONOMICALLY ANY TIME SOON. AUSTERITY MEASURES ARE STILL IN PLACE. THERE ARE STILL DEFICIT ISSUES. WE THINK EUROPE WILL BE A MUCH LONGER RECOVERY.

DON THOMPSON ON WINGS
WE'VE HAD TESTS WITH OUR MIGHTY WINGS AND THEY PERFORMED QUITE WELL. WE'RE EXCITED ABOUT CHICKEN AND EXCITED ABOUT WINGS. CHICKEN IS A GREAT GROWTH OPPORTUNITY FOR GROWTH IN THE COMPANY. AND WE ARE GOING TO CONTINUE TO PRESS FORWARD RELATIVE TO CHICKEN AND I HOPE NO ONE IS TOO WORRIED ABOUT US AND WE WANT TO SATISFY THE NEEDS OF CUSTOMERS AROUND THE U.S.


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