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How to Innovate in Marketing (Collection), 2/e
book

How to Innovate in Marketing (Collection), 2/e

by Monique Reece, Michael Tasner, Tony Davila, Marc Epstein, Robert Shelton, Larry Light, Joan Kiddon
April 2013
Intermediate to advanced
1305 pages
29h 14m
English
Pearson
Content preview from How to Innovate in Marketing (Collection), 2/e

1. Background to the Turnaround

Big Brand in Big Trouble

In February 1996, McDonald’s stock traded at 27 times earnings. But in July 1997, McDonald’s second quarter profit growth was just 4%, with a 2% decline in earnings from the US business.

When I joined McDonald’s in September 2002, the stock price was down to $17.66 from a high of $45.31 in March 1999. McDonald’s reported its first-ever quarterly loss of $344 million since it went public in 1965, with same-store sales down 1.9% in Europe, 6.1% in Asia-Pacific, and 1.4 % in the United States.1

In December 2002, after McDonald’s stock declined 60% over three years, the board of directors replaced Jack Greenberg with Jim Cantalupo as CEO, who they wooed out of retirement. Jim was ...

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Publisher Resources

ISBN: 9780133443103