McDonald's Shares Are Surging After Its Russia Announcement
Investors appear to be interested in shares of McDonald's (NYSE: MCD) this morning after the major fast-food chain announced plans to strongly increase its restaurant footprint in Russia. According to Reuters, the company says it has a "plan to open the 800th branch" in Russia by the end of 2020, an increase of approximately 50 new outlets bearing the golden arches.
The expansion will occur in the far east of Russia, a region where McDonald's previously hadn't developed its restaurant network. Some of the cities earmarked for their first taste of Big Macs and fries include Vladivostok, an important port city on the Pacific Ocean with around 600,000 inhabitants, and Khabarovsk, a similarly sized metropolis 500 miles north.
Image source: McDonald's.
Source Fool.com
