McDonald's Hosts Investor Day Amid U.S. Business Struggles
McDonald's is hosting an investor day on Wednesday in Chicago to share details about its new strategy, called McDonald's > NEXT. The presentation comes after the company's U.S. business disappointed in its most recent quarter, with same-store sales increasing just 0.8% and traffic to its restaurants falling.
CEO Chris Kempczinski attributed the problems to shortcomings in execution, such as a mixed implementation of value offerings, rather than issues with the chain's overall strategy. The company's stock has fallen 18% over the past 12 months, dragging McDonald's market value down to about $175 billion.
The presentation will cover several key areas, including the company's value strategy, menu updates, restaurant remodels, and cost cuts. Analysts expect that McDonald's will continue to emphasize value and franchisees' cooperation will be key to its success.