Popular In Your Area
Get Stories Every Day
The Best Business News:
- Oak Brook, Illinois based chain seeks new opportunities among more discerning diners in 6 locations, including Buffalo, New York
- Menu items include fries with truffle salt, burger boasting two 50/50 turkey and sirloin patties
As the fast food pioneer's stock prices plummet, McDonald's looks to innovate in a new market by introducing a causal dining concept in six cities: Buffalo, New York; Santa Rosa, California; Boise, Idaho; Las Vegas, Nevada; Houston, Texas and New Haven, Connecticut.
With Ron's, McDonald's seeks to capture upwardly-mobile, health-conscious, childless older Millenials. Executives hope this move will raise the company's value on Wall Street while seizing upon the opportunities in casual dining. CEO Steve Easterbrook commented in a press conference, "I'm confident this move will increase our over-all value and reassert our presence for consumers who grew up with Happy Meals, yet now seek a more serious feel."
Experts believe that McDonald's, a previous majority stock holder in casual dining leader Chipotle, is attempting to follow the healthy and quality ingredient trends in the market. Ron's menu includes burgers made with humanely slaughtered sirloin cuts of beef as well as "Breaded Poultry Morsels" with Sriracha chimichurri sauce produced from free-range-raised chickens.
Absent from the menu are selections explicitly for children. Easterbrook explains that "Ron's will serve consumers seeking a convenient, yet classy dining option."