NEW YORK (TheStreet) -- McDonald's (MCD) reported a 3.7% decline in August sales on Tuesday. TheStreet's Jim Cramer says McDonald's and its 3.5% yield is "the kind of bottom fishing" that does intrigue him because the company could get it right, though it has yet to do so.
Cramer says McDonald's real problem is Chipotle (CMG) because the former relies on the food supply chain, of which younger people are becoming increasingly suspicious. Chipotle goes outside the food chain and relies on natural and organic foods.
Cramer says it is hard to turn a company that is traditionally not natural and organic into one that is, as evidenced by General Mills (GIS) buying Annie's (BNNY) . He says this is the secular decline we are seeing in McDonald's, and he is not a bottom fisher in that stock.
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