The new CEO of McDonald’s, Steve Easterbrook, unveiled a plan to flip the burger chain and minced no words in describing the problems of the company.
The sales have recently fallen and stocks have been beaten.
To address the issue, McDonald’s is reorganizing its international operations and plans to open more franchises.
But Easterbrook really want to change the food quality and brand image. So get ready for a sirloin burger and chicken sandwich Premium.
McDonald’s faces stiff competition from chains like Shake Shack, Five Guys and Smashburger, which are increasingly popular among young customers.
Many consumers feel that these burgers and other chains, although more costly, taste better and have better quality ingredients.
Customers are also eating at chains like Chipotle and Panera.
There is also an open war with the breakfast. Taco Bell, Yum Brands, is gaining ground to McMuffin.
Investors do not seem convinced of the new plan. Stocks showed no movements in operations prior to the market opening.
Easterbrook said McDonald’s has to innovate. He promised that the company would make the exciting brand and used the phrase “modern and progressive company burgers”.
He added that the company should make better food and gave clues to new menu items such as sirloin burger.
“Consumers will decide if we are successful. The message is clear, we are not in our arena, “he said.
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