McDonald's Plans To Open 1000 New Restaurants
Also intends to renovate 2,300 existing locations
McDonald's, during its investor meeting, has revealed plans to continue to drive growth in sales, market share and returns through a strategic focus on its customers and restaurants under its ‘Plan to Win’. This includes plans to open about 1,000 new restaurants and reimage 2,300 existing locations worldwide in 2010.
Jim Skinner, CEO of McDonald's, said: Over the last seven years, we have stayed committed to the Plan to Win and our focus on being better, not just bigger. This focus has delivered results as we have consistently exceeded our growth targets.
The company's constant currency growth targets are: average annual sales growth of 3% to 5%; average annual operating income growth of 6% to 7%; and return on incremental invested capital in the high teens.
Ralph Alvarez, COO of McDonald's, said: We will continue to pursue opportunities to extend our relevance with a particular emphasis on three key areas: service enhancements, restaurant reimaging and menu innovation.
“With service, we will leverage technology to make it easier for managers and crew to quickly and accurately serve the customer. To enhance brand perceptions and drive higher sales and returns, we're accelerating our interior and exterior reimaging efforts around the world. And we are innovating at every tier of our menu to sustain our momentum and create excitement for our customers.
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