McDonald’s wants to be a bigger player in the global coffee business.
The world’s biggest hamburger chain on Thursday highlighted beverages as one of its key growth opportunities at a daylong presentation for investors.
McDonald’s CEO Don Thompson noted that coffee is the fastest growing category in its global drinks business and noted that the company has less than its “fair share” of the market. When asked to identify competitors in the space, Thompson chose to keep the discussion broad.
“Anyone that stops off to get a cup of coffee anywhere, that’s an opportunity,” Thompson said.
The push comes as Starbucks Corp. continues to enjoy strong sales growth, despite the lackluster economy that other chains have blamed for underwhelming results. In the latest quarter, for example, Starbucks said global sales rose 7 percent at locations open at least a year. The figure edged up 0.9 percent for McDonald’s.
