2023-07-27 11:19:21 ET
McDonald's ( NYSE: MCD ) announced on its earnings conference call that it is developing a new small store format called CosMc's. The fast food operator plans to test the new stores in limited markets starting early next year. "CosMc’s is a small format concept with all the DNA of McDonald’s, but with its own unique personality," previewed McDonald’s CEO Chris Kempczinski. The Chicago-based company said it will disclose more details about the new store format at its investor day in December.
The name CosMc is a reference to a McDonaldland mascot who appeared in advertisements in the late 1980s and early 1990s. The return of the CosMc character follows the social media viral success with the Grimace Birthday Meal during the summer that led to widespread exposure for the brand.
McDonald's ( MCD ) showed off strong same-store sales across global regions in Q2, but warned on the conference call on second-half economic headwinds. "We recognize that we’re operating in a challenging macro environment, where costs remain elevated, customers discretionary spending is limited and industry traffic is pressured," warned CFO Ian Borden said.
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McDonald's to launch new store format based off CosMc's character after Grimace dazzled