DON THOMPSON. THE RECENTLY FIRED MCD’S CEO DROVE THE COMPANY INTO THE TOILET IN JUST TWO YEARS.
I’m loving it.
McDonald’s went black, a lot of us ain’t goin’ back.
I also see quite a few news stories about shootings, beatings, and murders at McDonald’s. The place is simply too dangerous, when you stop and take a look around at the clientele.
Another factor may be at work. As the poor and working class find themselves with less discretionary income, they may simply be eating cheaper, such as at local burger chains or fixing eats at home, which can save money.
McDonald’s is in even worse shape than we realized. Profits are crumbling, sales are shrinking and guest traffic is declining all around the world. That’s leading McDonald’s to close at least 900 of its restaurants worldwide.
Consumers are defecting for healthier and fresher options like Chipotle, the burrito chain that McDonald’s sold off almost a decade ago.
The world’s largest burger chain announced more depressing results on Wednesday, April 22nd for the first three months of 2015.
The company vows a turnaround plan is coming. It will reveal the “initial details” on May 4th. In a preview of what might be coming, McDonald’s has announced that it’s closing at least 900 struggling restaurants, mostly in Japan, the U.S. and China.
Just how bad is it at McDonald’s? First-quarter profits tumbled by nearly $400 million, or roughly a third. That’s a steeper pace of profit declines than all of last year.
No wonder McDonald’s changed its CEO in late January.