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The
first CosMc's location will open in Bolingbrook, Illinois, this
week as part of a limited test run, the company said on
Wednesday during its investor day.
McDonald's aims to open about 10 pilot stores by the end of
2024, with the rest set to come up in Texas, CEO Chris
Kempczinski said. The company will study the results from the
test locations for at least one year, he added.
"While the number of locations is not particularly concerning to
the industry, it will likely put somewhat of a valuation cap on
Starbucks and Dutch Bros," Guggenheim analyst Gregory Francfort
wrote in a note.
Based on McDonald's alien character CosMc, which appeared in a
series of advertisements in the 1980s and 90s, the CosMc's
stores will also test Drive-Thru pickup lanes and cashless
payment devices to boost service speed.
With drinks such as "Sour Cherry Energy Burst" and "Blueberry
Ginger Boost", CosMc's could allow McDonald's to tap into the
growing popularity of mixed cold beverages in the U.S., a trend
that has boosted sales at coffee giant Starbucks.
CosMc's will also offer some popular McDonald's menu items such
as the McMuffin, as well as new sandwiches and snacks.
McDonald's on Wednesday outlined plans to double down on its
expansion, eyeing about 10,000 new store openings worldwide by
2027, and accelerate the digitizing of its business.
(Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj
Kalluvila)
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