DIRS.INFO The most relevant business & tech news

☆ McDonald's is betting on its mobile business with new franchisee digital marketing fund
▼ + stars: | 2024-05-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

McDonald's U.S. franchisees will start paying into a digital marketing fund next year as the fast-food giant looks to expand its booming digital business, according to a memo viewed by CNBC on Thursday. Loyalty program members accounted for more than $6 billion in system-wide sales globally during McDonald's first quarter. The company has 34 million active digital customers in the U.S. By comparison, Chipotle Mexican Grill has 40 million loyalty members, while Starbucks has 32.8 million. In December, McDonald's said it aims to reach 100 million loyalty program members by 2027. Franchisees in the U.K., Canada, Australia and Germany will also pay into the global digital marketing fund.

Persons: Tariq Hassan, Whitney McGinnis, McDonald's Organizations: CNBC, Grill, Starbucks Locations: U.S, Canada, Australia, Germany

☆ McDonald’s earnings miss estimates as diners pull back, Middle East boycotts hit sales
▼ + stars: | 2024-04-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's reported mixed quarterly results Tuesday as its reorganization weighed on its profit and boycotts hurt its Middle Eastern sales. McDonald's reported U.S. same-store sales growth of 2.5%, missing expectations of 2.6%. A month into the second quarter, McDonald's U.S. same-store sales are roughly flat, executives said. McDonald's said the segment's same-store sales fell 0.2%, marking the first time since the pandemic that one of the chain's divisions reported a same-store sales decline. McDonald's international operated markets segment, which includes Germany and the United Kingdom, reported same-store sales growth of 2.7%.

Persons: McDonald's, Chris Kempczinski, Kempczinski, Ian Borden, we've, Borden Organizations: LSEG, U.S Locations: U.S, Israel, Japan, Latin America, Germany, United Kingdom

☆ McDonald's is promising its 'Best Burger.' Now the chain will see if diners buy more of them
▼ + stars: | 2024-02-04 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

McDonald's has upgraded its burgers — but it's unclear if its sales will get the same boost. Still, McDonald's U.S. traffic dipped in the third quarter as low-income diners cut back their visits. When the company announces its fourth-quarter results Monday morning, analysts are expecting U.S. same-store sales growth of just 4.4%, according to StreetAccount estimates. Enter McDonald's "Best Burger" initiative: small tweaks to the chain's burgers that create a noticeably more flavorful product. The cooked patties are kept hotter, so the overall burger is still warm by the time it reaches the customer.

Persons: McDonald's, Mason Smoot Organizations: McDonald's Locations: McDonald's U.S

☆ McDonald's, Chipotle to raise menu prices in California next year as fast-food wages rise to $20
▼ + stars: | 2023-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's and Chipotle Mexican Grill will raise their menu prices in California next year to offset the state's minimum wage increase for fast-food workers, executives said as both chains announced quarterly earnings in recent days. McDonald's has not decided how much it will hike prices in California as workers' wages rise to $20 an hour, CEO Chris Kempczinski said Monday. Restaurants have been hiking menu prices for more than two years in response to rising ingredient and labor costs. Unlike Chipotle, which owns the overwhelming majority of its locations, most of McDonald's California locations are run by franchisees. "We believe we're in a better position than our competitors to weather this, so let's use this as an opportunity to actually accelerate our growth in California," Kempczinski said.

Persons: McDonald's, Chris Kempczinski, Chipotle, Jack Hartung, Hartung, Kempczinski Organizations: U.S . Bureau of Labor Statistics, McDonald's, National Owners Association, U.S, CNBC Locations: California, McDonald's, McDonald's California, McDonald's U.S

☆ Stocks making the biggest moves premarket: McDonald's, SoFi, Invitation Homes and more
▼ + stars: | 2023-10-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

East West Bancorp — Shares ticked up 2.6% after UBS upgraded them to buy on the back of strong third-quarter results. McDonald's — Shares popped 2.8% after the fast-food giant reported a third-quarter earnings and revenue beat. Revenue was boosted by higher-than-expected student loan originations for the quarter, according to the company's earnings release. The upgrade comes after L3Harris reported better-than-expected third-quarter earnings last week. However, the firm thinks DraftKings will have trouble breaking out higher until the company "proves market share resilience" in 2024.

Persons: SoFi, originations, Raymond James, L3Harris, Cowen, DraftKings, — CNBC's Pia Singh, Michelle Fox, Hakyung Kim Organizations: East West Bancorp, UBS, Revenue, Oppenheimer, L3Harris, NewAmsterdam Pharma, RBC Capital Markets Locations: LSEG

☆ McDonald's to raise royalty fees for new franchised restaurants for first time in nearly 30 years
▼ + stars: | 2023-09-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

McDonald's franchisees who add new restaurants will soon have to pay higher royalty fees. It's the first time in nearly three decades that McDonald's is hiking its royalty fees. However, the higher rate will affect new franchisees, buyers of company-owned restaurants, relocated restaurants and other scenarios that involve the franchisor. McDonald's will also stop calling the payments "service fees," and instead use the term "royalty fees," which most franchisors favor. They pay rent, monthly royalty fees and other charges, such as annual fees toward the company's mobile app, in order to operate as part of McDonald's system.

Persons: Joe Erlinger, McDonald's, Erlinger, Ian Borden Organizations: CNBC, Kalinowski Equity Research Locations: McDonald's, California, U.S

☆ A fight between fast-food chains and unions in California is over, for now – what to know
▼ + stars: | 2023-09-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +8 min

Gavin Newsom's office, also creates a nine-person council that will decide on future wage hikes for the fast-food industry in California through 2029. The deal will mean a wage floor of $20 for California workers at fast-food chains with at least 60 locations nationwide, starting April 1. The council will include four representatives from the fast-food industry, four from the workers' side and one neutral party who will serve as chair. But the fast-food industry was attacking the bill before it even made its way to Newsom's desk. Fast-food workers employed by affected restaurants will see pay increases of as much as 25% hit their paychecks starting in April.

Persons: Mario Tama, Gavin Newsom's, Mark Kalinowski, Newsom, Joe Erlinger, Erlinger, Jan, What's, Joe Pawlak, Technomic, they'll, Joe Pawlak Technomic, Pawlak, Mary Kay Henry, it's, Sean Kennedy, Burger Organizations: Getty, Gov, Equity Research, Democrat, FAST, Yum Brands, Restaurant Brands, McDonald's, Citi Research, Service Employees International Union, SEIU, California State, CNBC, Walmart, Target, Food, National Restaurant Association, Delta Airlines, Los Angeles International Airport Locations: Boyle, Los Angeles , California, California, McDonald's U.S, Minnesota, New York, —

☆ McDonald's to start focus groups with owners as part of civil rights audit
▼ + stars: | 2023-09-11 | by ( Kate Rogers | ) www.cnbc.com time to read: +4 min

McDonald's will begin virtual focus groups with some owners and operators as a part of an ongoing civil rights audit, according to a message to franchisees viewed by CNBC. Last year, shareholders approved of a proposal by SOC Investment group to conduct a civil rights audit in a close vote. The note also assured owners that neither McDonald's nor anyone employed by the company would participate in the groups or the selection process. The audit comes as McDonald's has made changes to its franchising structure and restaurant grading system in recent years. Other major companies including Citi, Starbucks and Airbnb have undertaken civil rights audits in recent years, and last year Apple and Amazon shareholders approved proposals for similar assessments.

Persons: McDonald's, WilmerHale, Herb Washington, Byron Allen, Allen Organizations: CNBC, Investment, U.S, Owner, Black, MLB, Allen, Citi, Starbucks, Apple, Amazon Locations: McDonald's

☆ McDonald's earnings beat estimates as U.S. traffic grows despite price hikes
▼ + stars: | 2023-04-25 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

All three of its divisions reported same-store sales growth of 12.6%. In its home market, higher menu prices and increased traffic fueled same-store sales growth, which topped StreetAccount estimates of 7.9%. McDonald's U.S. traffic rose for the third consecutive quarter, bucking the industry trend of slipping traffic as menu prices rise. Its international operated markets, which include the United Kingdom, France, Germany and Australia, beat StreetAccount estimates of 8.5% same-store sales growth. Its international developmental licensed markets segment, which includes China and Japan, topped same-store sales expectations of 10.5%.

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Roku, Coinbase, DraftKings, Disney & more
▼ + stars: | 2023-02-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Friday: Compass Point upgrades Coinbase to buy from neutral Compass said the "long-term opportunities outweigh near-term risks." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish heading into the company's investor day on March 1. KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on the stock to $280 per share from $220. Daiwa reiterates Disney as buy Daiwa said it sees international growth for Disney which will further drive parks outperformance. Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish on Walmart heading into earnings next week.

☆ McDonald's tops profit estimates, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

[1/3] McDonald's Crispy Chicken Sandwiches and fries are pictured in New York, U.S. March 30, 2021. REUTERS/Hilary RussJan 31 (Reuters) - McDonald's Corp (MCD.N) on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter ended Dec. 31.

☆ McDonald's sales surge, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

[1/2] A huge advertisement for a branch of fast-food giant McDonald's is seen on the outskirts of Berlin, Germany, April 22, 2016. The burger chain's global same-store sales increased 12.6% in the fourth quarter ended Dec. 31, compared with estimates for an 8.6% rise, according to IBES data from Refinitiv. That is compared to a 0.6% decline for fast food overall in the fourth quarter over the previous year. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter.

☆ McDonald's beats profit estimates, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

REUTERS/Hilary RussJan 31 (Reuters) - McDonald's Corp (MCD.N) on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. Even so, traffic rose 5% for full-year 2022 as McDonald's meals remained less expensive than many competitors, drawing low-income consumers. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter ended Dec. 31.

☆ McDonald's plans reorganization, job cuts as it accelerates restaurant openings
▼ + stars: | 2023-01-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

McDonald's is planning job cuts and a reorganization as the company refocuses its priorities to accelerate restaurant expansion, CEO Chris Kempczinski told employees Friday. As part of the reorganization, the company will be deprioritizing and halting certain initiatives, according to a company-wide memo from Kempczinski viewed by CNBC. "Today, we're divided into silos with a center, segments, and markets," Kempczinski wrote. Currently, McDonald's organization is divided into three segments: the U.S., international operated markets and international developmental licensed markets. Additionally, McDonald's said Friday it will speed up its development plans for new restaurants.

☆ McDonald's hopes deals like 50-cent double cheeseburgers beef up sales on its mobile app
▼ + stars: | 2022-12-07 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Last holiday season, McDonald's leaned on singer Mariah Carey's starpower and discounts to drive customers to their mobile app. The chain is also offering exclusive access to branded merch releases and deals on food, like a 50-cent double cheeseburger. The three-week-long promotion, which began Monday, is part of the company's broader digital strategy to drive traffic to its mobile app through seasonal promotions and create recurring revenue without sacrificing profitability. In recent years, restaurant companies have turned to loyalty programs to drive downloads of their mobile app and convince customers to keep coming back. For comparison, Starbucks , which has had a loyalty program for more than a decade, reported 28.7 million active U.S. members during its latest quarter.

Search resuls for: "McDonald's U.S"

15 mentions found