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McDonald's grew U.S. comparable sales 0.8% last quarter, missed estimates, and by Tuesday morning Joe Erlinger was no longer running the American business after almost 7 years. Skye Anderson, a 26-year company lifer, gets it now, with a mandate to bring "focus and urgency" to the home market. Reassuring to learn those were previously unavailable.
CEO Chris Kempczinski told ******* ysts the strategy is fine and the execution wasn't, which is corner office speak for "I asked for someone's head, and I'm now holding it up for the cameras."
At the clogged heart of McDonald's problems is that it launched so many new items that it clogged its own kitchens, slowed service, and annoyed customers. The World Cup marketing push landed with a thud. And fewer than 65% of US restaurants sold the sub-$3 value lineup at the prices corporate recommended, which made the centerpiece of the big turnaround effectively optional. Those operators skipped it because their margins have been chewed through by the same inflation hitting the people in the drive-thru. It's hard to discount your way out of a soft patch when the folks actually running the fryers can't afford to play along.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.
#NVIDIA #analysts
McDonald's grew U.S. comparable sales 0.8% last quarter, missed estimates, and by Tuesday morning Joe Erlinger was no longer running the American business after almost 7 years. Skye Anderson, a 26-year company lifer, gets it now, with a mandate to bring "focus and urgency" to the home market. Reassuring to learn those were previously unavailable.
CEO Chris Kempczinski told ******* ysts the strategy is fine and the execution wasn't, which is corner office speak for "I asked for someone's head, and I'm now holding it up for the cameras."
At the clogged heart of McDonald's problems is that it launched so many new items that it clogged its own kitchens, slowed service, and annoyed customers. The World Cup marketing push landed with a thud. And fewer than 65% of US restaurants sold the sub-$3 value lineup at the prices corporate recommended, which made the centerpiece of the big turnaround effectively optional. Those operators skipped it because their margins have been chewed through by the same inflation hitting the people in the drive-thru. It's hard to discount your way out of a soft patch when the folks actually running the fryers can't afford to play along.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.
#NVIDIA #analysts
3 months ago
