McDonald’s to open thousands of new restaurants in 2024
February 9, 2024 | by magnews24.com
Satisfying a craving for a Big Mac or a Quarter Pounder should soon become easier, since McDonalds’s plans to open thousands of new restaurants this year.
“The world’s largest restaurant company is planning to grow even faster over the next four years,” said CEO Chris Kempczinski earlier this month during an earnings call. He said these new stores should pop up in “key areas with high population growth and lower store density.”
In December, McDonald’s announced its “Accelerating the Arches” strategy. This growth plan called for a target of 50,000 restaurants by 2027.
McDonald’s CFO Ian Borden said during the Feb. 5 earnings call that the company plans to open 2,100 new locations across the globe this year, including 500 in the U.S.
“As I’ve said before, there has never been a better time to be part of Brand McDonald’s. The McDonald’s System has demonstrated exceptional execution of our Accelerating the Arches strategy and is delivering tremendous results across our key growth pillars,” said McDonald’s President and Chief Executive Officer Chris Kempczinski, per a Dec. 6 press release. “We have a clear trajectory for future growth as we continue to build on the brand strength, global footprint and digital ecosystem that have resulted in unparalleled competitive advantages and cemented McDonald’s as one of the world’s leading consumer-facing brands.”
In addition to addressing plans for more golden arches across the nation and the world, Kempczinski and Borden said that leadership is also looking for ways to make eating at the fast food favorite more affordable. They explained that economic pressure on households making $45,000 and under has resulted in sales from that cohort decreasing.
CBS News reported late last year on viral videos claiming to show expensive McDonald’s items. However, the outlet did note that the orders included special requests that added on to the price.
“Core to the Accelerating the Arches strategy is putting the customer at the center of every decision we make, acting with agility in any environment to deliver delicious, feel-good moments at an affordable price each and every day,” said Borden.