The head of McDonald’s (MCD) says that its business in the US has "huge potential" It is a bit hard to believe given that there is a McDonald’s on every corner in the country, but US same-store sales were up over 4% last month.
To keep growing, McDonald’s probably has to steal a lot of customers from Starbucks (SBUX), Burger King (BKC), Wendy’s (WEN), and Yum (YUM), which has KFC, Pizza Hut, and Taco Bell.
Burger King and Yum are trading near 52-week highs, as is McDonald’s. But the fast food business in the US is probably not that elastic. If not, and McDonald’s keeps it growth at current levels, smaller rivals are likely to get whacked.
And, that means 52-week high may be too high.
Douglas A. McIntyre
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