McDonald’s, Take Notes — Wendy’s Is Killing It With the Pretzel Bun
People up to date on their McDonald’s (NYSE:MCD) news knows that the fast-food chain isn’t doing so well. After once enjoying significant success in all of its many markets, especially at home, it’s safe to say the Oak Brook, Illinois-based company has hit a serious speed bump, and it’s one McDonald’s has yet to get over.
Different analysts have varying opinions about what CEO Don Thompson should do to resurrect the company’s success in the U.S., but it’s not as if the chief executive has been shy about sharing his ideas himself.
Following the chain’s latest disappointing earnings release last month, Thompson unabashedly said that the company needs to “re-establish the trust of consumers“ and revisit its strategies, telling the Wall Street Journal, “That means basic executive at a restaurant level, marketing engagement at a much stronger level, and also to make sure that our menu is relevant.”
That all sounds fine and dandy, except that Thompson’s assertions never really detailed how he plans on going about reestablishing said trust, and making sure the company’s menu is “relevant” could mean a lot of things. This is one of the first times the company’s executives have admitted to setbacks and strategy failures, but investors are still looking for concrete evidence that McDonald’s has a set agenda for change.