Looking for a job? McDonald’s plans to open 1,000 restaurants worldwide this year. After President Trump’s tax bill, the fast food chain is planning to turn their portion of tax savings into remodeling stores in the U.S., along with opening new restaurants. The fast-food company plans to renovate and remodel current stores with technology tailored to delivery and digital ordering, as well as self-service kiosks.
The food company reported strong fourth-quarter sales on Tuesday, as their new promotions and value menu drew in more customers. This positive boost was led by interest in McPick 2 options, beverage deals and a “strong consumer response to the new Buttermilk Crispy Tenders and delivery,” according to the company.
“2017 was a strong year for McDonald’s as customers responded to the many ways we are making their experience more convenient and enjoyable,” said McDonald’s President and Chief Executive Officer Steve Easterbrook, according to the company’s newsroom. “We served more customers more often, achieved our best comparable sales performance in six years, gained share in markets around the world and made tremendous progress with growth platforms such as delivery, mobile order and pay and Experience of the Future.”
Dollar Menu Leads to Increase in Sales
Global same-store sales grew at a fast pace, climbing 5.5 percent in the quarter. According to CNBC, this exceeded Wall Street estimates. This trend could only continue to increase with the company’s return of the remodeled Dollar Menu.
However, McDonald’s stock fell down to 3.7% on Tuesday. This might be due to tax reform and a slower pace of the refranchising initiative, according to the company.
“With the commitment the McDonald’s system has to running great restaurants and maximizing our growth initiatives, we are confident that we will accelerate our momentum by capitalizing on our strong business model and distinct brand advantages in convenience, menu variety and value,” said Easterbrook.