McDonald’s CEO: Hey, check out our buns!
MCDONALD’S new CEO, Steve Easterbrook, has revealed yet another piece of the turnaround puzzle. Macca’s buns will be toasted for longer. Huzzah!
MCDONALD’S new chief executive, Steve Easterbrook, said the burger joint is toasting its buns longer to improve the taste — part of a bid to hit the “reset” button on the company.
McDonald’s will also stop reporting monthly same-store sales as it struggles to win back customers. He said the move will allow the company to focus on its massive turnaround plan, presumably without feeling constant heat from investors.
“Disclosing comparable sales as part of our quarterly reporting is consistent with nearly all retailers and will provide a greater understanding of McDonald’s sales results in the context of the company’s overall financial performance,” Easterbook said at a Sanford Bernstein conference on Wednesday.
The chain’s last monthly comparable sales report will be for June. After that it will switch to reporting same-store sales — a closely watched measure of a retailer’s health — on a quarterly basis.
Without the monthly gauge, investors will have to go longer in between progress reports. Same-store sales at McDonald’s restaurants globally fell 0.6 per cent in April, marking its 11th straight decline.
Earlier this month Easterbrook revealed a plan for reviving business, including: reorganising the company into four markets, selling stores to franchisees, simplifying its menu, speeding up service and improving the quality of its food.
Wall Street analysts said the plan lacked specifics, prompting Easterbrook to offer up a few more titbits at the conference on Wednesday.