Latest news with #McDonaldsCorp
CNN
24-05-2025
- Business
- CNN
McDonald's is closing down its CosMc's spinoff
McDonald's is pulling the plug on its CosMc's spinoff just two years after the alien-themed spinoff took off. The chain announced Friday that it's closing all five locations next month. CosMc's, named after a little-known alien McDonald's character, opened in 2023 in response to fast-growing specialty coffee and beverage chains like Dutch Bros., Scooter's and Swig that have become popular with Gen Z consumers. CosMc's menu consisted of sweet drinks and light snacks, with the company hoping customers would visit during their afternoon slump. A spinoff was launched because executives thought the customizable drinks would be too much of a strain on its McDonald's employees, but fewer people customized their drinks than the company thought. Times have also changed since CosMc's opened: McDonald's recently reported its second consecutive quarter of sales declines as customers pulled back their spending amid economic uncertainty. That likely prompted McDonald's leadership to focus instead on fixing its core product. McDonald's said in a statement that CosMc's was created because the chain 'had the right to win in the fast-growing beverage space' and allowed it to 'test new, bold flavors and different technologies and processes – without impacting the existing McDonald's experience for customers and crew.' Although the CosMc's locations will disappear, some of the menu items won't. CEO Chris Kempczinski said in its earnings call this month that the chain is testing new customizable drinks inspired by CosMc's with some franchisees later this year. CosMc's locations — four in Texas and one in Illinois — will close at the end of June with their standalone app and loyalty program also being discontinued, the company said.
Reuters
23-05-2025
- Business
- Reuters
McDonald's to close standalone beverage concept
May 23 (Reuters) - McDonald's Corp (MCD.N), opens new tab is shutting down the five beverage-centered CosMc's stores it opened in 2023, but said some drinks from the standalone concept would be tested in McDonald's restaurants. The company said on Friday it had opened the stores as a test to learn more about the 'fast-growing beverage space,' which it said it had a 'right to win.' It said the standalone stores – in markets including San Antonio, Texas – allowed it to test new flavor and technologies without impacting existing McDonald's restaurants. The company said it will test 'CosMc's-inspired' drinks to its main menu at hundreds of U.S. stores. The company has more than 14,000 locations in the U.S. In March, McDonald's announced it would be establishing a new internal team to develop new beverages. The company said all CosMc's would be closed on a rolling basis beginning in late June. The CosMc's app will also be discontinued. Restaurant consultant John Gordon said McDonald's has historically been 'very quiet' in the beverage space compared with other restaurant chains, which have experimented with complicated drinks that typically carry a higher profit margin than food items.
Bloomberg
23-05-2025
- Business
- Bloomberg
McDonald's to Close Beverage-Focused Concept Stores, Test New Drinks
McDonald's Corp. plans to close standalone CosMc's stores, winding down its experiment with the beverage-focused concept. The burger chain first opened the locations in 2023 as it sought to develop offerings in the fast-growing drinks category, which has exploded in recent years as companies such as Dutch Bros. and Swig won over customers. The CosMc's website on Friday listed five locations.
Washington Post
12-05-2025
- Business
- Washington Post
McDonald's plans to hire 375,000 U.S. workers this summer
McDonald's said Monday it plans to hire up to 375,000 U.S. restaurant employees this summer, its biggest hiring push in years. The Chicago burger giant said the beefed-up job openings are partly due to a U.S. expansion. The company, which has more than 13,500 restaurants in the U.S., plans to open 900 more by 2027.
Bloomberg
12-05-2025
- Business
- Bloomberg
McDonald's Sets Goal of Hiring 375,000 US Workers This Summer
McDonald's Corp. and its franchisees plan to recruit as many as 375,000 workers across the US this summer in what the burger chain says is its biggest hiring spree in years. The Big Mac seller is gearing up to serve more customers as the weather warms up and the company expands, according to an announcement Monday. McDonald's said in 2023 that it would open 900 US locations over the following four years. The positions aren't intended to be seasonal or temporary.
