Shares of McDonald’s (MCD), which were halted earlier, climbed more than 1% after CEO Steve Easterbrook and members of the senior management team detailed the company’s long-term global growth plan at an investor day event in downtown Chicago.
The company said in a statement on Wednesday its growth plan focuses on enhancing digital capabilities and the use of technology to substantially elevate customer experience while redefining convenience through product delivery.
The company also plans to accelerate a deployment of ‘Experience of the Future’ restaurants in the U.S., initiate a new three-year target for cash return to shareholders, and establish new financial targets for sales, operating margin, earnings per share and return on incremental invested capital.
“We have fundamentally changed the trajectory of our business over the past two years,” said Easterbrook. “The moves we are making will reassert McDonald’s as the global leader in the informal eating out category.”
Shares traded near the top end of their 52-week price range of $110.33 – $131.96.