RADP / Pulse Nigeria > News > business

McDonald's customers running away from world's largest burger chain

isaac

April 28, 2015 6:28 PM

Despite the implementation of multiple strategies aimed at turning around the company’s fortunes, American fast-food chain McDonald's, reputed to be the world’s largest burger chain, recorded a severe drop in sales in Q1, 2015.

In fact, the figures reported for the period fell far less than expected. This development only indicates that McDonald's efforts to improve its sales figures, which have been declining over the last few quarters, is yielding no positive results.

McDonald's dwindling fortunes in recent times has been attributed to a number of factors including changing consumer tastes to healthy food, an overly complicated menu, stiff competition from much younger rivals like Panera Bread and Chipotle Mexican Grill, and the lingering effects of last summer's food scare in Asia.

Responding to the development, new CEO, Steve Easterbrook, stated that the company's management team is keenly focused on acting quickly to better address today's consumer needs, expectations and the competitive marketplace.

Easterbrook, a long-time in-house executive at McDonald's, was hired as the CEO in March, 2015, and is saddled with the responsibility of turning around the company's dwindling fortunes.

Content provided by TopCheck.com.ng - Nigeria's free price comparison tool for financial products

isaac

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!