McDonald’s Falls 3% as Franchisees Voice Concerns Over Plans to Boost Growth
Shares of McDonald's fell on Thursday a day after the McDonald's franchisees met to air out their concerns about the burger giant’s plans for improving weak sales.
Restaurant owners reportedly told the Wall Street Journal that they are yet to see a meaningful return on their investment which included updating stores, adding touch-screen kiosks and refrigerators needed to serve fresh beef burgers.
This rate move comes as McDonald's attempts to turn around slowing sales growth.
The burger chain has also faced calls from Vermont Senator Bernie Sanders to raise its minimum wage to $15 per hour.
McDonald’s (NYSE:MCD) fell by 3% to trade at $163.27 by 14:35 (18:35 GMT) on Thursday on the NYSE exchange.
The volume of McDonald’s shares traded since the start of the session was 3.32M. McDonald’s has traded in a range of $163.25 to $167.67 on the day.
The stock has traded at $172.00 at its highest and $163.27 at its lowest during the past seven days.