Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Here, too, McDonald’s may be learning from Starbucks’ cold drink bonanza. Plus, he said, the company is working on a cold coffee plan. To strengthen the company’s coffee business, “we will establish McCafe as part of our core menu offering and as our only brand for coffee at McDonald’s,” he said, adding that the company will also streamline the equipment it uses to make sure coffee tastes consistent across locations. When it comes to McCafe, “we still haven’t realized our full global potential,” Sempels said. “It is large, highly profitable, growing quickly, and obviously with strong habitual behavior.” “Coffee is a very attractive category,” said Jo Sempels, who oversees markets where McDonald’s has licensed its brand, earlier on Wednesday. McDonald’s sees an opportunity for coffee not just in the limited test, but at its regular locations, as well. Through the first half of next year, McDonald’s plans to open nine more locations all in Texas. So far, there’s one location opening in Bollinbrook, Illinois, later this week. Kempczinski warned investors not to get too excited: CosMc’s is still just a test. In November, Starbucks said that high-priced lattes and customized drinks helped lift the coffee chain’s US sales in the quarter ending on October 1. Cold drinks make up the majority of Starbucks’ sales. With CosMc’s, McDonald’s seems to be looking at Starbucks’ playbook - a focus on cold, sweet beverages that can be modified to taste. McDonald’s CEO: Bigger burgers are coming Maybe they’ll even pair it with cookies, ice cream, or one of a few sandwiches.īigger burgers are coming to McDonald's. So it’s testing out this new concept to see if people will swing by CosMc’s during their afternoon slumps to buy a churro frappe, s’mores cold brew, chai frappe burst, or another customizable beverage. But, he added, McDonald’s can’t just add a bunch of new drinks to its regular menus – it would complicate kitchen operations and slow service down. McDonald’s wants to get into the specialty coffee business, an “attractive and fast growing category,” Kempczinski said. The answer: The robot-surfer-alien would open a Starbucks rival with even more indulgent drinks, and name it after himself. “What would happen if a McDonald’s character from the 1980s that was part alien, part surfer, part robot - what would happen if this character were to open a restaurant in 2023?” Kempczinski asked. “There is one more thing,” he told attendees. Late in the day, after a detailed discussion of the company’s plans for bigger burgers and more restaurants, Kempczinski got to CosMc’s, with a Steve Jobsian intro. On Wednesday, Kempczinski finally revealed more during an investor event. We also learned that CosMc’s “is a small format concept with all the DNA of McDonald’s but its own unique personality,” in the words of CEO Chris Kempczinski, who discussed the concept during an analyst call in July. We knew then that CosMc’s is named for a little-known McDonald’s character, an alien. Over the summer, McDonald’s teased the test of a new restaurant concept. Shedding light on its long-awaited and oddly secretive CosMc’s concept, McDonald’s on Wednesday finally shared more about the café pilot, which seems to be its answer to Starbucks.
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