NEW YORK – McDonald’s is looking to hit 50,000 locations around the world by 2027 in what the company calls the fastest expansion spurt in its history.

The chain currently has more than 41,000 restaurants and has already committed to opening an extra 2,000 by the end of 2023. The new target highlights the burger giant’s stepped-up ambitions as it looks for its next leg of growth.

New restaurant openings will boost systemwide sales by 2 per cent in 2024 and by 2.5 per cent after 2024, McDonald’s said on Dec 6 in a statement ahead of a presentation to investors. Systemwide sales are those generated by all McDonald’s restaurants, from company-operated to franchised locations.

The expanded footprint is part of a multi-year growth plan that includes a renewed focus on marketing, core menu offerings such as hamburgers and digital channels, including delivery, the mobile app and kiosks.

McDonald’s is also looking to increase users of its loyalty programme to 250 million 90-day active customers by 2027, from about 150 million currently. The loyalty programme rewards customers who use McDonald’s app at least once every 90 days with points that they can exchange for select items.

It is targeting an additional US$25 billion (S$33.5 billion) in systemwide sales from loyalty-programme users over the same period, up from US$20 billion currently.

McDonald’s expects operating margins in the mid-to-high 40 per cent range in 2024, which is similar to the last two quarters, and continued expansion in subsequent years.

It is forecasting capital expenditures of US$2.5 billion in 2024, and sequential increases of about US$300 million to US$500 million each year through 2027.

The chain has held up in the face of pressured consumer budgets in recent months, beating expectations on sales and profits in the third quarter. Still, US customer traffic dipped for the first time in 2023 in the period. The shares have risen 8.7 per cent in 2023 through Tuesday’s close. BLOOMBERG