McDonald's to focus on unveiling new chicken items in effort to attract recession-battered consumers, CEO says
July 2, 2012
(Industry Intelligence Inc.)
– McDonald’s Corp.’s new CEO Don Thompson is planning to focus on unveiling new chicken items in an effort to attract recession-battered consumers, Bloomberg reported July 2.
Currently, chicken is significantly cheaper than beef, Thompson said during a May 30 consumer conference. Consumers also perceive it to be a healthier option, noted Raymond James & Associates analyst Bryan Elliott.
Americas are expected to increase their chicken consumption. In 2013, Americans’ beef consumption may fall 2.2% to 54.5 pounds/person while their chicken consumption will rise 1.7% to 82 pounds/person, according to data supplied by the U.S. Department of Agriculture.
In May, worldwide sales at McDonald’s restaurants that had been open for a minimum of 13 months rose 3.3%, below analysts’ earlier forecast of 5.2%, Bloomberg noted.
The primary source of this article is Bloomberg, New York, New York, on July 2, 2012.