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Share Name | Share Symbol | Market | Type |
---|---|---|---|
McDonalds Corp | NYSE:MCD | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.99 | 0.37% | 271.31 | 271.875 | 270.54 | 271.06 | 485,142 | 15:36:28 |
By Laurie Burkitt and Julie Jargon
BEIJING-- McDonald's Corp. is aiming to beef up its image in China amid an economic slowdown that could send diners searching for cheaper alternatives.
The Oak Brook, Ill., company is overhauling a number of its China-based stores in places such as Beijing, Shanghai and Guangzhou using a local designer, according to a company statement. It also is launching a new advertising campaign that focuses on Chinese aspirations and it is recruiting more locals to run its franchises in China. McDonald's will also feature basketball star LeBron James in China-focused commercials later this year, the statement said.
McDonald's is airing a three-minute ad that is set to appear Friday, just after the widely watched evening news on state broadcaster China Central Television. WPP PLC's media-buying agency Group M estimates that time slot costs about $131,000.
The move comes as China's economic growth slows. China reported Wednesday that first-quarter growth in the country fell to 7.4% from a year earlier, the lowest level in 18 months, from 7.7% in the fourth quarter. There is little sign that the economy will manage much faster growth in the near term.
Write to Laurie Burkitt at laurie.burkitt@wsj.com and Julie Jargon at julie.jargon@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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