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McDonald's

Financing

McDonald’s will reopen some restaurants in Ukraine

The burger giant said it has started a phased reopening of its locations in the country, which have been closed since the Russian invasion.

Financing

McDonald’s names Brian Rice chief information officer

The former Cardinal Health executive will lead the fast-food burger giant’s technology strategy as it eyes a bigger digital business.

The fast-food burger chain is no longer testing its McPlant burger as analysts speculate that it didn’t go over as well as hoped.

He said now is the time to take this step, given the high demand for the chain’s restaurants, and suggested that only lower-performing franchisees should be concerned about the changes.

The Bottom Line: The burger chain, which thrived during the Great Recession with a Dollar Menu, hopes to get through the next recession with more local and targeted offers.

Nearly one-third of sales in the fast-food burger chain’s biggest markets came from digital, while profits were hurt by Russia closures and rising costs for food and labor.

The burger chain’s executive once again dismissed the prospect of robots and other automation for solving the industry’s labor woes, saying the economics “don’t pencil out.”

The fast-food burger giant saw more normalized use last quarter, as customers make smaller orders and go through the drive-thru less often. Chipotle Mexican Grill is seeing similar trends.

The Bottom Line: We explain the depths of operators’ frustration with management, and why an independent association could take a vote of no confidence in McDonald’s top executives despite the chain’s strong performance.

A vast majority of operators back a vote of no confidence in CEO Chris Kempczinski over tougher new standards on renewals, according to a survey by an independent franchisee association.

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