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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

Stock watch: Who’s up, who’s down after Syracuse’s week 1 win

first_imgStock upJamal CustisBefore Friday, Syracuse didn’t have a No. 1 option in the passing game. Custis dispelled any notion of that after two touchdowns on six receptions for 168 yards. No other Syracuse wide receiver caught a pass Friday.Custis’ best highlight Friday came at possibly the most critical time for SU. After a 34-7 lead evaporated to six in less than 10 minutes, SU needed an answer.After covering 39 yards in the seven prior plays, Eric Dungey connected with Custis on an out-route to the left sideline. Custis hauled in the pass one handed, juked a defender and trotted into the endzone, giving the Orange some breathing room again.AdvertisementThis is placeholder textLook for Custis to further solidify himself in Syracuse’s week two matchup against Wagner.Offensive lineSyracuse’s offensive line dominated the Broncos at the line of scrimmage. The success stemmed from the wealth of experience SU has at the five line positions.Friday’s starting group featured returning first-teamers Cody Conway, Airon Servais and Evan Adams. Add Aaron Roberts — the 2016 starter at left guard who missed 2017 with a knee injury  — and Texas A&M graduate transfer Koda Martin to the mix and suddenly, for the first time in the Dino Babers era, the offensive line was one of the most experienced groups.That showed Friday to the tune of 334 yards rushing (5.4 per carry), only two sacks allowed and five scores via the ground. The main beneficiary was Dungey, who wasn’t sacked and set the Syracuse, and ACC, single-game record for rushing yards by a quarterback with an even 200.Running backsMoe Neal and Dontae Strickland confirmed their stranglehold on running back touches Friday. Together, the two toted the ball 40 times for 122 yards and four touchdowns.The yards per carry figure — 3.1 — is lackluster, but considering Dungey went for 200 yards on 15 attempts, the two backs were complimentary to the signal-caller’s running game.Neal took the bulk of carries, 29 to Strickland’s 11, and both made contributions in the passing game. Strickland caught a 22-yard pass up the seam from Tommy DeVito in the third quarter, a shoestring tackle saving the touchdown.Neal and Strickland should continue to dominate touches at the running back position. Published on September 4, 2018 at 8:25 pm Contact Andrew: [email protected].edu | @A_E_Graham Syracuse (1-0) escaped Kalamazoo, Michigan, with a 55-42 win over Western Michigan (0-1) on Friday night. The Orange got out to a 34-7 first-half lead predicated on dominating up front. But a bad defensive third quarter and a stagnating offense kept it close. Eventually, the Orange recovered and established control over the Broncos. Check out whose stock crept up and whose fell. Tommy DeVitoWithout any prior play at SU — or the last two years — it’s unfair to say DeVito’s stock went down. Friday was, for lack of a better metaphor, his initial public offering, and it didn’t go as well as planned.The DeVito hype train slowed a little after a 4-for-9, 42 yard and three first-down performance. When DeVito entered the game, SU stagnated offensively. The unit that blew the doors off WMU for the first half could barely go forward.DeVito himself mostly did the right things. He stood in the pocket and escaped when necessary, though he twice took a sack. He hit the aforementioned completion to Strickland and had a long ball to Custis wiped out by a penalty.Still, the misses were bad. On a 15-yard sideline out route, DeVito missed an open Custis low and away. On a 3rd-and-9, he whipped a ball wide left, where he expected Butler to be, but there was miscommunication on the route. Deep balls were overthrown.DeVito was fine on Friday. No more, no less. Stock downThe secondaryWestern Michigan, after a 117-yard first half, came out and took the top off SU’s defense in the third quarter. Countless chunk plays on deep balls — mostly to D’Wayne Eskridge — and handoffs to LeVante Bellamy ultimately torched the Orange’s secondary.The Broncos first offensive play of the second half was a 37-yard completion to Jaylen Reed. A 21-yard score to Eskridge followed.Two drives later, WMU quarterback Jon Wassink connected with Eskridge down the middle for an 84-yard bomb.Eskridge mainly victimized cornerback Scoop Bradshaw, often running past him and accumulating eight receptions for 240 yards and two scores.The secondary got burned for seven plays of 21 yards or more in the third quarter alone.Devin ButlerOpposite the sure-handed Custis, junior wide receiver Devin Butler had a rough showing against the Broncos. Despite consistently being targeted on intermediate routes and deep balls, Butler is still looking for his first reception.Several times, both Dungey and DeVito looked for Butler deep down the sideline. But despite getting behind the defense, Butler never ran under any deep balls. He’d come close, but he always seemed a step short.Closer to the line of scrimmage, Butler struggled more. He had a first down bounce off his hands on a slant and couldn’t haul in a touchdown pass coming across the middle.Despite a wealth of opportunity, Butler came up empty. Comments Facebook Twitter Google+last_img read more