McDonald's has been shrinking for eight years despite its 13,000 US locations. Before the pandemic, the chain had more openings than closings in 2014. However, a Tuesday earnings call revealed that the fast-food giant is reviving its massive domestic and international growth plans.
Since releasing Accelerating the Arches 2.0, a development-focused roadmap, McDonald's has hinted at plans to expand again. The company did not say how many new openings it planned.
This morning's earnings call revealed that number. McDonald's will open 1,900 restaurants worldwide in 2023, including 400 in the US and its international markets.
They stressed that Accelerating the Arches 2.0 was still McDonald's top priority. That includes customer-focused marketing, a commitment to burgers, chicken, and coffee, and a focus on delivery, digital, drive-thru, and development.
In 2023, the chain will return to expanding globally after years of modernising its restaurants. Domestic sales rose over 10% at the end of last year compared to 2021, almost 6% for the year.
short-term inflation to hurt the company, but he believes the chain can succeed and grow. Success lies in expanding. McDonald's plans to spend 2.2 billion this year, half of which will open new locations worldwide.
Later in the year, the new American restaurants will be built. Kempczinski stated that "spending the time right now to getting a granular look where we would build and what pace and what types of restaurants" is crucial.
He said McDonald's previously prioritised numbers over location quality and success. We may see more restaurants like the Texas drive-thru.