How McDonald’s Got Its Groove Back
Psychologically, McDonald’s probably hit bottom early in 2003. Sure, it was still the biggest fast-food provider in the world. But the stock collapsed after the company reported its first-ever quarterly loss. Battered by critics (nutritionists, environmentalists, chauvinists, human rights activists, defenders of animals), nibbled at by new competitors (Subway, Sonic, Quiznos), undermined by overbuilding and a failure to adapt to changes in consumer habits and tastes, the giant was out of breath and sagging over its belt.
Behind the scenes, though, a turnaround had begun. A new team ...
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