McDonald’s Continue to Rise With $205 Million Investment and Impressive Q3 Report
When it comes to the world of fast food, there is one particular place that is known not just in the United States but all over the world. In 1940, two brothers introduced the fast way to be able to make hamburgers for people which is now a place known as McDonald’s.
For almost 80 years now, the company has been referred to as the largest fast food chain in the world. Based on recent statistics, they serve about 70 million customers on a daily basis in more than a hundred countries. This year, the company continued to soar with the recent multi-million dollar foreign investment as well as an impressive third quarter report.
South Africa Investment and Q3 Report
It was reported a couple of days ago that at the South African Investment Conference, McDonald’s Corporation officially announced that they will be investing $205 million in the area. This is a massive investment that will be good for the next five years. This announcement was made at the conference last week at Johannesburg. It was revealed that there is a plan to open about 120 more restaurants all over the country in the next five years.
This is definitely going to make a massive impact towards the construction and manufacturing sectors, giving the people more jobs. According to McDonald’s South Africa’s chief executive officer, these expansions would then allow them to create more than 7,000 jobs including those who will be employed once the restaurants are all ready to open and serve.
In order to make sure that the new employees will have enough knowledge to give a great service, McDonald’s is also planning on having a Hamburger University in South Arica to improve the skills of more than 12,000 employees as part of their training curriculum.
Other than this massive investment, biggest fast food chain in the world also just released their third quarter report which totally impressed analysts. For the 13th consecutive month, McDonald’s Corporation topped Wall Street analysts’ expectations when it comes to profit and revenue for this quarter. They have managed to get $5.37 million in revenue and earned $1.64 billion with $2.10 per share. According to some experts, McDonald’s is turning to franchises which is what is making them have better results on statistics every quarter.
This then lead to their sales growth to continue on growing on both the US as well as in the International sector. This is all despite the 3 percent difference from the numbers last year. Wall Street experts only expected the, to have $1.99 in shares as well as only $5.32 billion in revenue.
An Improved Approach
McDonald’s CEO Steve Easterbrook said that despite the company’s continuous growth in the last few quarters, they are still looking for ways to be better. He said that they are still confident that the strategies that they have planned will drive them to a better and a long-term growth.
One of those plans is to try and improve their menu every once in a while, such as adding new coffee drinks, bringing back products their customers request for and most of all, partnering up with Uber Eats to be able to add convenience to their beloved customers.
Another plan that they have already started to do is by renovating thousands of their restaurants all over the country. Easterbrook said they are going to spend about $1.8 billion just for this year on the remodeling process.
By the end of 2019, the goal is said to be having 12,000 newly renovated restaurants. The McDonald’s CEO also revealed that this would be the biggest construction project their company will ever do in history. Despite having to carry the burden on giving financial assistance on some of their franchises, Easterbrook believes that they are still one big company that must work as a family, and family helps one another at all times.
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