McDonald's Readies Growth Strategy to Reverse Sluggish US Sales
McDonald's is gearing up to unveil its latest growth strategy at an investor conference in Chicago, aiming to reverse sluggish sales in its core US market. The company's quarterly report showed domestic same-store sales grew just 0.8% alongside falling customer traffic.
The fast-food chain's market valuation sits near $175 billion after shares dropped over 18% over the past 12 months. Its recent struggles have been attributed to internal execution missteps, including mixed franchisee adoption of value programs and premature removal of popular promotional offers.
Chief Executive Officer Chris Kempczinski stated that recent struggles stemmed from execution shortfalls rather than underlying issues with the broader brand strategy. To lead the turnaround effort, McDonald's appointed Skye Anderson as president of its US operations.