Word: mcdonald
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Dates: during 1990-1999
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...generally costs 50[cents] to $1 less than one purchased a la carte, or 10[cents] to 30[cents] less than an Extra Value meal. Got it? Customers seem reluctant to perform this sort of cash-register calculus. Salomon Brothers estimates that same-store sales fell 4% in May. McDonald's is equipping stores with explanatory signs and promising that consumers will catch on. A reported $66 million in advertising may help...
Campaign 55 does not account for taste, which has become a more complicated issue. The older boomers get, the more they worry about food quality. "McDonald's got obsoleted on their food," says Malcolm M. Knapp, a food-industry consultant based in Manhattan. "For a long time, it was good enough to be consistent and clean. Now America wants taste." That was the idea behind the Arch Deluxe, which the company unveiled last year after extensive testing, promoting the product as a burger for grownups. It bombed. Arch Deluxe failed to deliver on the taste front. Says franchisee LuAnn Perez...
Having added hundreds of stores year after year, McDonald's is finding the specter of reaching market saturation very real. Fortunately, overseas sales are robust and last year kicked in 59% of the company's $2.6 billion in operating income. But in the U.S. the $103 billion-a-year fast-food industry is slowing down, and McDonald's, far and away the leader, is feeling the loss of momentum hardest. Its stock has been a notable laggard, returning a paltry 1.2% to investors last year...
...pressure led to a shake-up last October, when McDonald's CEO and chairman Michael Quinlan brought in Greenberg. He carries an unlikely pedigree--he was an attorney and accountant at Arthur Young who moved over to his client, McDonald's, as chief financial officer in 1982. He spent lots of time building the financial structures needed for the company's overseas development, but has little experience in burger warfare. That's part of his charm. "I don't feel defensive," he says...
...dissidents are most vocal about a corporate-expansion strategy that they claim has flooded some markets with stores. "I can put up with a Burger King but not with another McDonald's down the road," says Bob Srygley, a consortium member based in Monticello, Ark. Complains LuAnn Perez, whose store on Route 50 in Cameron Park, Calif., is flanked by others: "Business was great until four other McDonald's were built between Sacramento and us." She and her husband are suing the company over the sale of their business...