Why 2017 Was a Year to Remember for McDonald's Corp.
The first step in McDonald's (NYSE: MCD) business turnaround was admitting that it had a problem. Following three straight years of shrinking sales, executives began fiscal 2017 fully aware that they'd made mistakes that cost the fast food titan market share. "As customers' expectations increased," management said in an investor presentation in early March, "McDonald's simply didn't keep pace with them."
"We have to attract more customers, more often," CEO Steve Easterbrook acknowledge as he unveiled a strategic plan that targeted faster growth, increased profitability, and healthy cash returns to shareholders.
McDonald's made impressive strides toward each of these categories in 2017.
Source: Fool.com
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