McDonald’s to open 10,000 new stores – after announcing new CosMc’s chain

Fast food giant McDonald’s is planning to open 10,000 new restaurants around the world by 2027 in what could be its quickest growth period ever.

McDonald’s unveiled its plans on Wednesday, the same day it revealed more details on its new spin-off restaurant CosMc’s.

The chain known for its golden arches will open 900 stores in the US and 1,900 franchises internationally in Canada, the UK, Germany and Australia, USA Today reported.

McDonald’s will launch roughly 7,000 new stores in Brazil, China, India and Japan, said CFO Ian Borden. More than half of them will be in China, which is the second-largest market for the American company. McDonald’s recently reached a deal giving it more control over its business operations in China.

The expansion will bring the total number of McDonald’s stores to about 50,000 over the next four years.

McDonald’s also aims to grow its loyalty program from 150million to 250million 90-day active users by 2027.

Beginning next year, McDonald’s will use Google Cloud technology to make operations and customer service more efficient at thousands of its restaurants globally.

‘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,’ stated president and CEO Chris Kempczinski.

‘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.’

McDonald’s expects to boost its sales systemwide by 2% with its new stores, versus its 1.5% projected growth for this year.

‘It sounds ambitious, but definitely exciting if they can execute it at scale,’ said Stephens analyst Joshua Long. ‘There’s no reason to think that they’re not able to achieve this.’

The expansion comes as images leaked of a possible menu at the first CosMc’s which is set to open in Bolingbrook, Illinois. A passer-by took pictures of menu screens that had items including a Spicy Queso sandwich, Churro Frappe, Turmeric Spiced Latte and Blueberry Ginger Boost. The café pilot appears geared up to rival Starbucks.

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