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McDonald’s Hits All-Time High As Wall Street Cheers Replacement of Cashiers With Kiosks

McDonald’s is expected to increase its sales via new digital ordering kiosks that will replace cashiers in 2,500 restaurants. As a result, the company’s shares hit an all-time high, rallying 26 percent this year through Monday. CNBC reports: Andrew Charles from Cowen cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017. The technology upgrades, part of what McDonald’s calls “Experience of the Future,” includes digital ordering kiosks that will be offered in 2,500 restaurants by the end of the year and table delivery. “MCD is cultivating a digital platform through mobile ordering and Experience of the Future (EOTF), an in-store technological overhaul most conspicuous through kiosk ordering and table delivery,” Charles wrote in a note to clients Tuesday. “Our analysis suggests efforts should bear fruit in 2018 with a combined 130 bps [basis points] contribution to U.S. comps [comparable sales].” He raised his 2018 U.S. same store sales growth estimate for the fast-food chain to 3 percent from 2 percent.

Read more of this story at Slashdot.

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