McDonald’s Starved for Ideas as Burger King Lures Diners |
| Bloomberg - Nov 30, 2012 |
For McDonald’s Corp., it’s business as usual -- and that’s the problem.
McDonald’s, which earlier this month reported its first monthly global same-store sales decline in nine years, hasn’t introduced enough new menu items to keep U.S. customers excited. While the company turned its sights on Starbucks Corp. (SBUX) in recent years in a bid to bring in new customers with McCafe beverages, Burger King Worldwide Inc. began luring business away from McDonald’s with more family-friendly foods, traditionally McDonald’s strong point.
To set about reversing the slide, on Nov. 15 Oak Brook, Illinois-based McDonald’s announced the departure of Jan Fields, a 35-year veteran who had been running the U.S. operations, and said they will push value menu items in advertising to boost sales.
Meanwhile, Burger King has been excelling at a game McDonald’s worked to perfect years ago, introducing a steady stream of new menu items, such as snack wraps and gingerbread sundaes for the holidays.
McDonald’s has “not had anything to talk about of substance,” Michael Kelter, a New York-based analyst at Goldman Sachs Group Inc., said in an interview. “People are going elsewhere.”
Read Full Article from Bloomberg
- Posted: 2012-11-30 15:39:36
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