McDonald's to reveal comeback plan on May 4

Chicago

MCDONALD'S Corp chief executive officer Steve Easterbrook promised to give details of his comeback plan for the struggling chain next month, following another quarter of declining sales and profit. "We are developing a turnaround plan to improve our performance and deliver enduring profitable growth," Mr Easterbrook said in a statement on Wednesday. "We look forward to sharing the initial details of this plan on May 4."

Part of the strategy will include shutting about 350 underperforming restaurants this year, mostly in the US, Japan and China, executives said on a conference call on Wednesday. That comes in addition to 350 locations worldwide that McDonald's announced plans to close in January. The company also will be selling a new sirloin burger in the US, positioned as a premium item.