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McDonald's: Will the Headquarters Shift Aid Turnaround Plans?
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Keeping with its efforts to transform itself in a contemporary burger company, McDonald's Corp. (MCD - Free Report) has decided to relocate its headquarters to downtown Chicago by the spring of 2018. Notably, the company is currently based in the Chicago suburb of Oak Brook, IL.
Details
Notably, the company has signed a lease at 1045 W. Randolph St in Chicago's West Loop, with plans to alter the space into a modern site that will promote group effort and connectivity.
Apart from the home office, the new headquarters will also house McDonald’s training center, Hamburger University.
Interestingly, this marks the company’s homecoming to Chicago as McDonald’s was previously headquartered there from 1955 to 1971.
Rationale Behind
Of late, there has been a trend among several high-status U.S. corporations of moving out from their expansive suburban headquarters into urban centers in a bid to appeal to the younger, metropolitan workforce. In Jan 2016, General Electric Company (GE - Free Report) announced its plan to shift its headquarters from Fairfield, CT, to Boston.
In recent years, Chicago has become an attractive hub for businesses. Notably, ConAgra Foods, Inc. (CAG - Free Report) and Motorola Solutions, Inc. (MSI - Free Report) are two of the many companies who have lately revealed plans of moving operations to the city.
Thus, with its latest move of relocating headquarters, McDonald’s CEO Steve Easterbrook is aiming to draw in new and younger professionals.
We note that last May, Steve Easterbrook announced a turnaround plan related to restructuring of the company’s worldwide operations and certain other financial updates.
Thus, since the announcement of this plan, the company has been engaged in a series of buyouts and layoffs in order to streamline operations and increase efficiency. The company has thus invigorated sales and profits by trimming costs, simplifying menus, offering value meals and rolling out all-day breakfast in the U.S.
At a time when the company is focusing on overhauling its operational structure, the shift of headquarters to an urban locale should bode well.
McDonald's currently has a Zacks Rank #3 (Hold).
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McDonald's: Will the Headquarters Shift Aid Turnaround Plans?
Keeping with its efforts to transform itself in a contemporary burger company, McDonald's Corp. (MCD - Free Report) has decided to relocate its headquarters to downtown Chicago by the spring of 2018. Notably, the company is currently based in the Chicago suburb of Oak Brook, IL.
Details
Notably, the company has signed a lease at 1045 W. Randolph St in Chicago's West Loop, with plans to alter the space into a modern site that will promote group effort and connectivity.
Apart from the home office, the new headquarters will also house McDonald’s training center, Hamburger University.
Interestingly, this marks the company’s homecoming to Chicago as McDonald’s was previously headquartered there from 1955 to 1971.
Rationale Behind
Of late, there has been a trend among several high-status U.S. corporations of moving out from their expansive suburban headquarters into urban centers in a bid to appeal to the younger, metropolitan workforce. In Jan 2016, General Electric Company (GE - Free Report) announced its plan to shift its headquarters from Fairfield, CT, to Boston.
In recent years, Chicago has become an attractive hub for businesses. Notably, ConAgra Foods, Inc. (CAG - Free Report) and Motorola Solutions, Inc. (MSI - Free Report) are two of the many companies who have lately revealed plans of moving operations to the city.
Thus, with its latest move of relocating headquarters, McDonald’s CEO Steve Easterbrook is aiming to draw in new and younger professionals.
We note that last May, Steve Easterbrook announced a turnaround plan related to restructuring of the company’s worldwide operations and certain other financial updates.
Thus, since the announcement of this plan, the company has been engaged in a series of buyouts and layoffs in order to streamline operations and increase efficiency. The company has thus invigorated sales and profits by trimming costs, simplifying menus, offering value meals and rolling out all-day breakfast in the U.S.
At a time when the company is focusing on overhauling its operational structure, the shift of headquarters to an urban locale should bode well.
McDonald's currently has a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>