McDonald's is hosting an investor day as its U.S. business struggles. Here are 4 things to expect
Article excerpt
In this article McDonald's is expected to share more details about its new strategy to win back diners at its investor day on Wednesday in Chicago. The company unveiled its new global growth plan, called McDonald's > NEXT, in June at its biennial worldwide convention for franchisees. Pillars of the strategy include a new restaurant design, better-tasting food and drinks and consumer-led innovation. But executives have otherwise offered few details, holding back until Wednesday's event. Nearly three years after McDonald's previous investor day, the presentation comes after McDonald's U.S. business disappointed in its most recent quarter. The chain's same-store sales increased just 0.8%, and traffic to its restaurants fell. CEO Chris Kempczinski said that the problems were due to shortcomings in execution, like a mixed implementation of its value offerings, rather than issues with the chain's overall strategy. Skye Anderson, who was tapped as president of McDonald's U.S. business in the wake of the weak quarter, will likely speak on Wednesday. Kempczinski, Anderson and the rest of the McDonald's executive team will have to win over investors, who are increasingly skeptical that the fast-food giant can win over diners in the near term. Over the past 12 months, the stock has fallen 18%, dragging McDonald's market value down to about $175 billion. The S&P 500 has climbed 16%...
Keep reading with a free account
The rest of this article, and every signal for McDonald's, is in your free account.
Extracted from this sentence
And it looks like another round of restaurant renovations is coming as part of the growth strategy.
