McDonald’s offers more info on spinoff CosMc's, first pops up in Midwest
McDonald's shares have advanced nearly 9% this year trailing the S&P 500's 18% jump
McDonald's spinoff restaurant 'CosMc's' to open in Chicago
McDonald’s is set to debut a new spin-off restaurant called "CosMc's" in a Chicago suburb. (Credit: FOX 32)
McDonald’s mysterious spinoff restaurant, CosMc’s, is a mystery no longer.
The fast-food chain said Wednesday that the "small-format, beverage-led" CosMc brand is getting a small pilot test in the U.S. and gave investors more information about it as it informed shareholders about a slew of initiatives it is pursuing during its investor update event.
A sign for CosMc's [Credit: McDonald's/CosMc's] (McDonald's/CosMc's)
That news came after a standalone building, with both logos in the brand's signature yellow, popped up in Bolingbrook, Illinois, and garnered quite a bit of attention earlier in the week.
McDonald’s picked Bolingbrook, which is not far from Chicago, for CosMc’s first location. That spot will start serving guests this week, the fast-food company said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 286.85 | -4.04 | -1.39% |
A SECOND ALLEGED DEATH TIED TO FAST-FOOD DRINK
McDonald's spinoff CosMc (Iman Jalali / LIFESTYLOGY /TMX)
The Bolingbrook location had its full menu visible and sported several drive-thru lanes.
McDonald’s said CosMc’s will have a "uniquely seamless digital and Drive Thru experience" that involves "dynamic menu boards and cashless payment devices" for customers.
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The menu will consist largely of drinks such as iced teas, lemonades, coffees, slushes, frappes and "Signature Galactic Boosts," the company revealed. A S’mores Cold Brew, Blueberry Ginger Boost, Turmeric Spiced Latte and Berry Hibiscus Sour-Ade are among its various items.
The CosMc's menu offers many different drinksm [Credit: McDonald's/CosMc's] (McDonald's/CosMc's)
There will also be customizations like popping boba, Vitamin C shots and flavored syrups available, according to McDonald’s.
The drinks will appear alongside a "small lineup of food" on the CosMc’s menu. Customers will see a handful of options from the McDonald’s brand as well.
Some food items that will be available at CosMc's [Credit: McDonald's/CosMc's] (McDonald's/CosMc's)
In July, CEO Chris Kempczinski told analysts on an earnings call that the small-format concept restaurant will have "all the DNA of McDonald's, but its own unique personality" as reported by FOX Business.
Chris Kempczinski was named McDonald's new president and CEO (Credit: McDonald's)
The fast-food chain is looking to get about 10 other locations up and running in Texas before 2024’s year-end as part of its pilot. Those will be in the Dallas-Fort Worth and San Antonio areas.
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McDonald’s
Kempczinski is pushing his "Accelerating the Arches" strategy to help grow the business.
Shares of McDonald’s are up about 8.8% from the start of the year, ahead of Burger King parent Restaurant Brands’ 7.7% rise. Both are underperforming the broader S&P 500’s nearly 20% advance this year. Shares of Yum Brands, parent to KFC and Taco Bell, are down 2.3% this year, while Chipotle's stock has soared 61.5%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| QSR | RESTAURANT BRANDS INTERNATIONAL INC. | 69.54 | +0.13 | +0.19% |
| YUM | YUM! BRANDS INC. | 133.34 | +0.46 | +0.34% |
| CMG | CHIPOTLE MEXICAN GRILL INC. | 59.79 | +0.91 | +1.55% |
The fast-food chain had a market capitalization value of $208.6 billion as of Wednesday.
FOX Business' Daniella Genovese and Aislinn Murphy contributed to this report.
*This report was updated to reflect the correct spelling of Bolingbrook.