McDonald’s targeting 50,000 restaurants by 2027

McDonald’s Corp.
MCD,
-0.17%
said Wednesday it plans to open 10,000 new restaurants by 2027 in what the company described as the fastest period of growth in company history. The new additions would bring the fast-food giant’s restaurant total to 50,000. McDonald’s also said it will team up with Alphabet Inc.’s GOOG Google unit on cloud technology and artificial intelligence to connect its restaurants worldwide. The company also plans to grow its loyalty program to 250 million by 2027 from 150 million now. McDonald’s said its loyalty program ranks as one of the largest in the world. Chief Executive Chris Kempczinski said McDonald’s has a “clear trajectory for future growth.” McDonald’s stock price fell by 0.7% in early trading on Wednesday.h.” McDonald’s stock price fell by 0.7% in early trading on Wednesday.