McDonald's reported its first sales decline in nearly a decade late last year, just four months into CEO Don Thompson's tenure, one of several challenges the new chief executive faced. In this interview, he shares the highs and lows of his first year, and says the chain's still-strong stock price reflects investors' long-term confidence in the brand.
Checkers has opened a restaurant inside a Tampa-area Wal-Mart store and plans a second in Virginia, part of the quickservice chain's larger comeback strategy. The chain has been growing with a variety of new non-traditional locations, and after several years of sluggish sales, same-store sales over the last year are up 7% for company-owned stores and 5% at corporate and franchise stores.
U.S. restaurant company Yum! Brands sold its 330 U.K. Pizza Hut restaurants to Rutland Partners, an investment group that will run the eateries under a franchise agreement. Rutland will renovate the restaurants using one of 10 new store formats.
McDonald's reported a 1.8% drop in same-store sales last month, with U.S. sales dropping 2.2%, the first decline in nine years. The company plans to ramp up promotions of its Dollar Menu, a strategy some analysts question as consumers shift their focus from price and rivals including Burger King, Wendy's and Taco Bell build market share with new premium menu items.