mcdonald's corp (MCD) Key Developments
McDonald's Fast Food Chain to Invest EUR 4.5 Million in Renovation of Restaurants in Baltics
Feb 26 15
McDonald's fast food chain will invest EUR 4.5 million in renovation of its restaurants in the Baltic states. The company had opened the first two restaurants of the new concept in the Latvian capital Riga. Before the end of 2015, another seven McDonald's restaurants in the Baltic states will switch to the new concept. Full transition to the new concept in the Baltics is to be completed by 2017. Under the new concept, there will be separate ordering and meal pick-up areas at the McDonald's restaurants, and there will also be touchscreen kiosks that will take orders and money.
Brazilian Labor Unions Sues on McDonald's Corp. and its Local Franchisee Arcos Dourados for Allegedly Violating Labor Laws for at Least 30 Years
Feb 24 15
Brazilian labor unions are suing McDonald's and its local franchisee Arcos Dourados for allegedly violating labor laws for at least 30 years. The suit filed in Brasilia also seeks to prevent McDonald's from opening new stores until it complies with legislation and asks that it be slapped with penalties of up to 30 percent of its revenue in Brazil. It says in a statement that the defendants have violated minimum wage laws, committed timecard fraud, failed to pay overtime, denied employees regular schedules, and used underage workers, among other illegal actions.
McDonald's Announces Management Changes
Feb 11 15
MCDONALD'S announced another change to its senior management team on February 10 after promoting its UK finance chief Paul Pomroy to managing director for the region with immediate effect. Pomroy, who joined the fast-food giant almost 20 years ago as a real estate analyst, will take over from Mark Hawthorne who has left the business for family reasons. He will report to Jill McDonald, the company's UK chief executive and president of its north west division, which includes Scandinavia, Germany, Ireland and Luxembourg. The management reshuffle comes after Steve Easterbrook, McDonald's Watford-born chief branding officer, was made global chief executive last month, tasked with reviving the group's flagging sales which have come under pressure from fierce competition and a consumer shift towards more healthy eating. Don Thompson stepped down after the group reported a 7% fall in fourth quarter sales to $6.57 billion.
McDonald's Corporation Reports Global Comparable Sales for January 2015
Feb 9 15
McDonald's Corporation reported sales results for the month of January 2015. For the month, the company reported global comparable store sales decreased 1.8%, with the U.S. up 0.4%, Europe up 0.5%, and Asia Pacific/Middle East/Africa down 12.6%.
Mcdonald's Maintaining Investments in Russian Market
Jan 29 15
McDonald's invested RUB 6 billion in the Russian market, the funds were directed toward the construction of new restaurants and the modernization of existing ones.