Monday, January 26, 2009
McDonalds Continues Expansion Plans After 80% Net Profit Rise
As many major chains,such as Starbucks, (NASDAQ: SBX) cut and contract, McDonalds is renovating and expanding.
Despite a slow fourth quarter, the fast food leader ended up with 80% net profit for the year.
An article from AFP credits the profit to growing demand for low-cost meals in the global economic recession. McDonalds (NYSE: MCD)released a statement citing Net profit at 4.3 billion dollars, compared with 2.3 billion in 2007.
According to CNNmoney.com, McDonalds plans to spend $2.1 billion on enhancement and expansion this year. In the article, McDonalds CEO James Skinner commented on the successful year and explained his vision for the year ahead.
Through our strategic focus on menu choice, food quality and value, the average number of customers served per day increased to more than 58 million. Comparable sales and guest counts were positive across all segments for every quarter, and the company delivered double-digit growth in operating income for the fourth quarter and the year.
Tomorrow, I'll be among the media listening to McDonald's Chief Marketing Officer, Mary Dillon, who is speaking at the American Marketing Association Mplanet Conference in Orlando. Dillon's presentation is titled: "Building a strategic advantage in Global Markets."
Dillon is one of many high-profile leaders slated to speak at Mplanet. Others speakers include marketing leaders from Google, Xerox,American Express, Wal Mart, Cisco, Nintendo, Coca Cola and others. Check the marketingshift homepage or subscribe to our RSS feed for on-location interviews and updates at the conference.
By Matt O'Hern at 03:26 PM | Comments (1)