McDonald’s (MCD) said Thursday it will serve fresh-beef Quarter Pounders, cooked when ordered, in most of its restaurants by the middle of next year, marking the latest move the company has made to keep apace in an industry migrating toward fresher ingredients and mobile technology.
The decision follows the chain’s plans announced earlier this month to launch a mobile order and pay system. The company is also testing food delivery and plans to expand the number of restaurants that offer table service and self-ordering kiosks.
McDonald’s shares were up 0.4% at 129.36 on the stock market today, nearing a 130.10 buy point. Burger King parent Restaurant Brands International (QSR) dipped 0.2% to 56.04 but still near a 58.08 entry. Jack in the Box (JACK) edged up 0.4%, and Wendy’s (WEN) added 0.2%.
As fast-casual dining from Chipotle Mexican Grill (GMG) and others chipped away at sales of fast food’s old guard a few years ago, McDonald’s in 2015 began a massive turnaround effort that included restructuring the company and refranchising more restaurants, a move that helps shift costs onto independent owners. All-Day Breakfast and other menu items reawakened sales near the end of that year.
The company has also pledged to use only cage-free eggs by 2025, and it eliminated artificial preservatives and high-fructose corn syrup from some items while vowing to serve chicken that didn’t have antibiotics needed in human medicine.
On Thursday, CEO Steve Easterbrook said in a statement that “we are committed to transforming more aspects of our business, including offering a more modern and enjoyable dining experience, adding new levels of convenience and technology, and making more positive changes to the food we serve.” Read More