Eyeing growth, McDonald's plans 1,000 new stores


Think the world has enough McDonald's (MCD) restaurants? Think again. The fast-food giant plans to open 1,000 new stores worldwide next year as part of plan to become an even more dominant force in the industry. The company also plans to remodel 2,300 existing stores, introduce new menu items and employ new technology to improve service.

The efforts are part of the Oak Brook, Ill., company's "Plan to Win" strategy, CEO Jim Skinner told analysts on a conference call Thursday. McDonald's, along with other value-priced retailers such as Wal-Mart Stores (WMT), has weathered the recession well, as value-seeking consumers have ditched higher cost alternatives in search for more bang for the buck. That has helped McDonald's bottom line.