MCD - McDonald's To Expand China Presence With 1000 New Outlets This Year Says 'Much On Track' For 10000 Mainland Restaurants By 2028 | Benzinga
In a bid to strengthen its position in China, McDonald’s Corp (NYSE:MCD) is set to open 1,000 new outlets in the country this year.
What Happened: The fast-food giant is looking to expand its presence in lower-tier cities, its second-largest market, reported Bloomberg on Tuesday. This move is part of the company’s strategy to tap into new markets as major cities like Beijing and Shanghai become saturated.
"We think there's going to be an opportunity for us to continue to build out development and penetration in that market to many places where we don't really have McDonald's presence," CEO Chris Kempczinski said in an analyst call.
McDonald’s CEO during an analyst call, stated that the company’s goal is to have 10,000 restaurants in mainland China by the end of 2028. This plan aligns with the company’s previous expansion, which saw the opening of 1,000 outlets in 2023.
McDonald’s ...