According to the fast food chain, it will use these funds to upgrade its facilities. That includes enhancing equipment used by its employees, as well as remodeling select stores with a more modern appearance.
Investors in QSR stock will note that Burger King wants to focus more on technology and digital investments. That, combined with plans for more advertising, is part of its efforts to increase sales growth and improve profitability.
Burger King notes that it will spend that $400 million over a two-year period. It also has two investment plans. The first is called “Royal Reset” and will get $250 million for upgrades and remodels. The second is “Fuel the Flame” and will get $150 million for advertising and digital investments.
Tom Curtis, president of Burger King North America, said the following about the investments:
We are relentlessly pursuing a better experience for our Guests. This is the driving force behind all the initiatives that we are executing collaboratively with our Franchisees. Our plan is focused on a few important priorities — operational excellence, refreshed image, and enhanced marketing — that when put together, provide a superior experience for our Guests.
QSR stock was up nearly 1% as of Monday morning.
There’s more of the latest stock market news traders will want to know about below!
We’ve got all of the hottest stock news investors need to keep an eye on for Monday! Among that is what has shares of Occidental Petroleum (NYSE:OXY), Adobe (NASDAQ:ADBE), and Bristol-Myers Squibb (NYSE:BMY) stock in the news. You can read up on all of that at the following links!
More Monday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.