McDonald's Corp (NYSE: MCD) has announced a plan to open over 200 new restaurants in the UK and Ireland, marking its largest regional expansion in over 20 years.
This £1 billion investment will take place over the next few years, showing McDonald's dedication to expanding its presence and serving more customers in these areas.
The plan aims to increase the number of locations and make a significant economic impact by creating around 24,000 new jobs, boosting employment opportunities in the region.
This will add to the current workforce of over 170,000 people across 1,435 existing McDonald's outlets in the UK, with 80% operated by franchisees.
McDonald's is also planning to innovate its restaurant formats to meet changing consumer habits and preferences.
The introduction of smaller sites and "drive to" locations reflects a strategic response to the growing demand in the UK's food-to-go sector, expected to grow by 40% by 2028.
Additionally, McDonald's global strategy includes opening 10,000 new restaurants worldwide by 2027, supporting a bold vision for the future.
From an investment standpoint, McDonald's stock tells a story of resilience and potential. Although its value dropped by 2% this year, August saw a 9% rise, signaling a positive change in investor sentiment.
This followed a long consolidation period beginning in June 2023, with the stock moving between a $243 support level and a $350 resistance level.
Historically, McDonald's stock has experienced notable volatility, from a low of $124 in March 2020 to a high of $299 in June 2023, marked by significant corrections.
Despite this, the current bullish momentum during this consolidation phase might push the stock beyond its previous highs, setting new records.
After the closing bell on Wednesday, August 21, the stock closed at $289.71, trading up by 1.39%.