McDonald's Lovin' Russia
NEW YORK (
) --
McDonald's
(MCD) - Get Report
is expanding its presence in Russia with 45 new locations, the fast-food chain announced today.
The move will grow McDonald's portfolio in the country to 290 stores.
The news comes after rival
Burger King
(BKC)
announced plans to open its first location in Russia. Burger King launched its first outlet in Russia in January. The company plans to open two more stores by April.
Russia isn't the only country that fast-food chains are targeting. Last week reports surfaced that
McDonald's plans to boost its capital investment in China by 25%
during the year, Reuters reported. This would result in anywhere from 150 to 165 new locations in the country.
Shares in McDonald's were up by 2.1% to $63.76 in Monday afternoon trading.
-- Reported by Jeanine Poggi in New York.
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>>McDonald's Plans Big Growth in China
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