McDonald’s has announced it will open nearly 10,000 new restaurants worldwide by 2027, as excitement grows over its top-secret spin-off CosMc store.
The planned expansion will mark the fastest period of growth in the burger chain’s more than 60-year history, bringing the total number of restaurants to 50,000 in four years.
About 900 of the new stores are expected to be in the US Associated press.
It comes after a period of strong growth for the company, which saw same-store sales increase globally by almost 9 percent in the third financial quarter of 2023.
Other national chains are expanding at similar rates: Starbucks announced last month that it expects to have 55,000 stores worldwide by 2030, up from 38,000 today.
McDonald’s has announced it will open nearly 10,000 new restaurants worldwide by 2027, marking the fastest growth period in the burger chain’s more than 60-year history.
It comes as speculation mounts over the chain’s new CosMc venture. More details are expected to be revealed at Wednesday’s investor event
McDonald’s made the announcement on Wednesday ahead of its investor event, which is expected to shed more light on its secretive ‘CosMc’ venture.
CEO Christopher Kempczinski announced the new spinoff — named after the brand’s alien mascot from the 1980s and early 1990s — in the company’s second-quarter earnings call. A limited number of locations will be revealed in early 2024.
Photos of a new CosMc store in Bolingbrook, Illinois show that it appears to be on the verge of completion. So far, few details are known about the location, although there is speculation that it could be a Starbucks competitor.
Last week, passersby shared some photos of what appeared to be the new store’s menu, which included items like a “sour cherry energy burst” and a “S’mores cold brew.”
McDonald’s made a host of other major announcements on Wednesday, including a partnership with Google Cloud aimed at improving its automated services.
It also aims to have 250 million active loyalty program users by 2027, up from 150 million today.
So far, few details are known about the location, although there is speculation that it could be a Starbucks competitor
Photos of a new CosMc store in Bolingbrook, Illinois show it appears to be on the verge of completion
Last week, passersby shared some photos of what appeared to be the new store’s menu, which included items like a “sour cherry energy burst” and a “S’mores cold brew.”
Meanwhile, the McCrispy chicken sandwich will reach almost all of the chain’s markets by the end of 2025.
McDonald’s saw its profits rise by almost 17 percent to $2.32 billion in the third financial quarter of 2023.
Executives said profits were boosted by “strategic menu price increases.”
CEO Chris Kempczinski said in a post-earnings call: “Consumers continue to discriminate about what and where they spend…”[but] we actually see no change at all in customer acceptance… and in pricing.”
The cost of a Big Mac has increased 125% since 1996 and is currently $3.91, according to CashNetUSA.
