Retailer Daily

McDonald’s Plans to Open 500 New Stores in China

McDonald's Corp., optimistic about its future in China, plans to open some 500 restaurants there within three years, writes Reuters, citing Brian Durkin, McDonald's vice-president of development in China. The global economic crisis has not hit McDonald's China operations particularly hard, apparently. "Many of our new initiatives, 24-hour delivery, special value meals, breakfast, all are driving and overcoming our sales relative to this decline," Durkin is quoted as having said. The fast-food giant recently launched a promotion in China, pricing half of its offerings at levels same as or lower than they were 10 years ago. In 2008, it opened 146 restaurants in China, which now has more than 2,000 McDonald's outlets. It plans to open 175 more in 2009. McDonald's posted better-than expected results for January, as cash-strapped consumers sought out low-priced restaurant food.