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MisdemeanorRebel
2015 Aug 12, 12:22pm
MisdemeanorRebel
2015 Aug 12, 12:22pm
She's fighting for it, she didn't get it. In any case, a net few dozen stores less != impending collapse.
The aging population and health conscious eating has more to do with McDonalds or Hostess than paying a decent wage. In Switzerland and Australia, they make a lot more than $15/hr, and McD's still makes money there.
4
indigenous
2015 Aug 12, 12:41pm
indigenous
2015 Aug 12, 12:41pm
The thing is that it is a change in a very long trend.
McDonald's is a blue chip company i.e. they are very well managed. If they are struggling it is significant.
McDonald's US to shrink for the first time in 45 years
The fast food giant, which had previously said it would close more stores than it opens in the US this year, will shutter 59 American branches
McDonald’s plans to shrink by 59 locations this year in the US, the first time in at least 45 years that the fast food restaurant has closed more US stores than it has opened, as the company cuts costs and tries to revive sales.
The world’s biggest restaurant chain has not reduced the net number of its US stores since at least 1970, according to a previous Associated Press review of McDonald's regulatory filings.
The chain is closing 184 restaurants and opening 125 new ones in 2015, according to a franchise operations document filed with the Minnesota Department of Commerce last month. The company said in June that it was shrinking its US presence this year but did not give an exact figure.
• The secret menu items you didn’t know you could order at McDonald's
McDonald's, which had about 14,350 US locations at the end of last year, is shuttering stores across the country as it struggles to reverse its worst sales slump in more than decade.
Americans are increasingly flocking to fast-casual restaurants, such as Chipotle Mexican Grill, which allow customers to build their own meals.
McDonald’s is testing its own version of customisable sandwiches with TasteCrafted, where diners can choose from different bun and topping combinations.
When comparable sales in the US fell by 2pc in the April to June quarter, the company said that "the featured products and promotions did not achieve expected consumer response amid ongoing competitive activity".
Closing units may help McDonald’s reduce expenses, which chief executive officer Steve Easterbrook, who was appointed earlier this year, has focused on recently. Earlier this month, McDonald’s said it would eliminate jobs at its US headquarters in Oak Brook, Illinois.
In April, McDonald's announced that it would close around 700 branches worldwide in 2015, including 350 restaurants in China, Japan and the US.
Globally, McDonald's revenues in the first half of the year fell by 10pc to $12.5bn and net income dropped by 22pc to $2bn.
In the US, which accounts for about 32pc of revenue, same-store sales have dropped for seven straight quarters.