McDonald's (MCD) Franchisees Vote to Approve All-Day Breakfast Availability
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When you wish hard enough, sometimes dreams do come true. For fans of McDonald's (NYSE: MCD), that day is today.
According to the WSJ, McDonald's franchisee's voted to approve an initiative which would allow the company's 14,300 U.S. locations to serve breakfast items all day.
McDonald's had been testing the effort since last March and a franchisee leadership council approved the measure today.
McDonald’s USA President Mike Andres commented today that this was the biggest thing the company has done since introducing the McCafe in 2009. This is the consumers’ idea. This is what they want us to do ... That’s why I think this could be the catalyst for our turnaround,
the executive noted.
New equipment requirements will run about $500 to $5,000 per restaurant and many franchisees are said to have already installed the new equipment.
McDonald's has recently said that breakfast items account for about 25 percent of U.S. sales, while analysts expect that amount to rise to 29 percent initially.
All-day breakfast items will begin to be served on October 6th.
Shares of McDonald's are down 1.6 percent.
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