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McDonald targets mid-single digit sales growth in 2021 and 2022

first_img– Advertisement – Still, the company reminded investors of the ongoing uncertainty as a result of the coronavirus crisis. It said it would continue to evaluate its financial expectations and will provide updates if warranted.Earlier on Monday, the company reported its third-quarter results, topping analysts’ estimates for both its earnings and revenue. McDonald’s U.S. business saw same-store sales return to growth in the quarter, boosted by popular promotions, like its deal on rapper Travis Scott’s favorite order and the limited-time spicy McNuggets.McDonald’s shares were recently up nearly 4% in premarket trading. The stock, which has a market cap of nearly $167 billion, has risen nearly 10% since the start of the year.- Advertisement – McDonald’s incoming U.S. President Chris Kempczinski speaks during a press conference in New York November 17, 2016.Shannon Stapleton | Reuters As the coronavirus pandemic has upended both McDonald’s business and the broader restaurant industry, the company is taking note of how consumer behavior has changed. Its new strategy unveiled to investors on Monday doubles down on such trends, like customers’ preference for core menu items and the surge in drive-thru orders.With its digital sales expected to exceed $10 billion this year, the company is planning to launch “MyMcDonald’s” across its six top markets by the end of next year. The new platform will tie together McDonald’s various tech investments, like its app and digital menu boards, and make it easier for customers to order and pay for their food. McDonald’s will test a loyalty program in the Phoenix area as part of the plan.The company said it plans to take advantage of the strength of its drive-thru lanes by testing automated order taking, drive-thru lanes only for digital orders and a restaurant design without any indoor dining. McDonald’s also said that the “vast majority” of new restaurants in the United States and its International Operated Markets segment, which includs France and the United Kingdowm, will have drive-thru lanes.The pandemic has also pushed McDonald’s customers to return to their classic menu items, like the Big Mac or McNuggets. The company said that its core menu items account for about 70% of its sales. It’s planning on tweaks to improve the taste of its burgers, like toasting the buns golden brown and changing how they’re grilled.But chicken is growing faster than beef. In response, McDonald’s is planning to expand its line of chicken offerings, including the long-awaited launch of its Crispy Chicken Sandwich in the U.S. early next year. The sandwich is meant to rival those of Chick-fil-A and Popeyes.McDonald’s strategy also includes staying relevant for its consumers. Its famous orders promotions, like those with Scott and reggaeton singer J. Balvin, are “just the beginning.”The chain plans to roll out new packaging worldwide and an advertising campaign focused on its values and commitments to workers, suppliers and franchisees.This is breaking news. Please check back for updates.Programming Note: For more on McDonald’s, watch CEO Chris Kempczinski on “Squawk on the Street” at 10 a.m. ET Tuesday.center_img McDonald’s said Monday it’s expecting mid-single digit sales growth in 2021 and 2022 as the fast-food giant plots its recovery from the coronavirus pandemic.Its strategy to drive sales growth includes more collaborations with celebrities, adding more chicken to its menu and piloting a loyalty program in the U.S.The company told investors that it’s expecting annual capital expenditures of $2.3 billion, about half of which will be spent building new restaurants. New locations will contribute about 1.5% to 2% to McDonald’s systemwide sales growth in 2022.- Advertisement – – Advertisement –last_img read more

England’s medal bid ends in disappointment

first_img England had to settle for fourth place in both the men’s and women’s European team championships after their double bid for bronze medals ended in disappointment. The men lost 4-3 to Sweden with team manager Terry Casey commenting: “We were again left to reflect on getting nothing out of the day when we had played our hearts out.” Meanwhile, the women were beaten 5-2 by Spain and team captain Elaine Ratcliffe said: “The girls played good golf this week and rallied hard but in the end came across two teams who played fantastic golf against us at the right times.” Overall, the men’s championship was won by Scotland, while France took the ladies’ title.  In the men’s bronze medal match all England’s points were provided by Jimmy Mullen and Ashley Chesters (Image © Leaderboard Photography). They won their foursomes by one hole and Mullen went on to win his singles 4/2, while Chesters took his point by the margin of 2/1. But the other England players were fighting hard. Team captain Terry Casey paid tribute to his battling side, remarking: “We put up a great performance and I’m very proud of the lads. “After halving the foursomes the Swedes came on strongly in the singles, but we once again played excellent golf and gave ourselves a great chance. “Ben Taylor played very well against (world number three) Marcus Kinhult and was in a strong position and still ahead with two holes to go. However, despite solid play from Ben and twice being agonisingly close to birdies himself on both these holes, he had to watch as Kinhult converted both times, from off the green on the last.” He added: “We leave in fourth place with our heads held high and England Golf winning many friends from an outstanding effort. The guys were just outstanding in every respect.” In the women’s bronze medal match, England’s points were provided by Hayley Davis and Charlotte Thomas, who had a comfortable 5/4 foursomes win; and by Bronte Law who was on similar form, winning her singles 5/3. Elaine Ratcliffe said: “The standard of play in the foursomes was stunning with both pairings being under par. Hayley and Charlotte won convincingly, not giving their opponents any opportunity to be in the game. The other foursome played amazing golf but were defeated by a birdie on the 19th hole. We were delighted with the standard of golf. “In the afternoon the Spanish girls played some amazing golf and quickly took good leads in four of the five matches. But the performance of the afternoon was from Bronte who birdied five out of the last seven holes to win 5/3, with some of the best golf of the week played.” She also had praise for 17-year-old Alice Hewson who was playing her first women’s European championship and who was second, individually, in qualifying. Elsewhere, England boys beat Scotland 3-2 to finish fifth in the top flight of their championship. This was the highest position they could achieve after losing their first round match. Their points were accumulated in the singles with Bradley Moore winning 4/3 and Matty Lamb and Harry Hall both winning 1 up. England’s girls lost 4½-½ to Sweden, finishing second in Flight B and 10th overall in their championship. The teams: Men, playing at Halmstad Golf Club, Sweden: Ashley Chesters (Hawkstone Park), Nick Marsh (Huddersfield), Jimmy Mullen (Royal North Devon), Ben Taylor (Walton Heath), Ashton Turner (Kenwick Park) and Sean Towndrow (Southport & Ainsdale). Women, playing at Helsingor Golf Club, Denmark:  Gemma Clews (Delamere Forest), Hayley Davis (Ferndown), Alice Hewson (Berkhamsted), Bronte Law (Bramhall), Meghan MacLaren (Wellingborough) and Charlotte Thomas of Singapore. Boys,  playing at Pickala in Finland: Bradley Moore (Kedleston Park), Marco Penge (Golf at Goodwood), Harry Hall (West Cornwall), Will Enefer (Wrekin), Jamie Li (Bath) and Matty Lamb (Hexham). Girls, playing at Kaskada Golf Club in the Czech Republic: Emma Allen (Meon Valley), Annabel Bailey (Kirby Muxloe), Sammy Fuller (Roehampton), Sophie Lamb (Clitheroe), Hollie Muse (West Lancashire) and Lizzie Prior (Burhill). Click here for full scores 11 Jul 2015 England’s medal bid ends in disappointment last_img read more