McDonald's all day breakfast has changed the company's fate
It now seems like McDonald’s Corporation has achieved its target of redeeming itself with an all-day breakfast offering. The company decided this fall that they will come up with breakfast items all day long in the United States. This has now become the core reason behind the company’s upswing and has helped McDonald’s come out of the slump.
Under the able leadership of the Chief Executive Officer, Mr. Steve Easterbrook who took over the company in March has improved their comparable store slaes. This means that the sales happening at restaurants open at least once in a year. Moreover, it is also rising on the year earlier level for the first time ever in FY13.
As a result the McDonald’s stocks have soared by 25% since August with significant highs. Apparently in the Dow Jones industrial average the stocks are being ranked as top performing according to the industry average.
Apart from the all-day breakfast, the CEO has pushed the company to streamline the menu and has also emphasized on the need of making the quality of chicken sandwiches, hamburger and other items better. The company has also been asked to overcome the bureaucratic nature and improve its presence on digital media.
Irrespective of the fact the market presence of McDonalds is enormous and has stable brand identity, Mr. Steve Easterbook mentioned to investors during the meeting last month, "no business or brand has a divine right to succeed.”
"The plain fact is we were not executing to our standards," he added. "We were missing customer expectations in too many places."
The growth has been steady for the company since a decade and the company embraced a menace earlier in 2013 where the company had major rivals like Carl’s Jr. and Burger King were doing better. Moreover, the trend for gourmet burgers led to chains like Shake Shack that took the industry by a storm which allowed buyers to customize their meals as per their liking.
The company had a much cluttered menu that affected their surface and several scandal regarding the meat used in their products also tinted their image.
Hence now, an all day breakfast has turned out to be a game changer for the company which will help them to restore their image and build their credibility once again. The company now just needs to continue with its efforts and come up with better and innovative offerings that change the game for them completely making them the kings once again.
