NEW YORK (TheStreet) -- McDonald's Corp. (MCD) has contacted a number of ad agencies and media companies searching for ideas on which type of charitable partnership it could strike that would help it better connect with millennials, sources told the Wall Street Journal.
The fast-food giant, which earlier this month reported its steepest monthly decline in U.S. same-store sales in over 14 years, has been hurt by growing competition from fast-casual chains, the Journal noted. More importantly, millennials, a critical customer base for the company, are increasingly opting for food from competitors such as Chipotle Mexcian Grill (CMG) , according to data compiled for the Journal.
"We're always looking for great creative ideas that will resonate with our customers and giving back to our communities is part of how we do business," said McDonald's.
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McDonald's has been putting more emphasis lately on trying to attract this demographic-those in their 20s and 30s- with digital marketing, the Journal said.
Shares of McDonald's are slightly lower at $90.50 in pre-market trading.
TheStreet Ratings team rates MCDONALD'S CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MCDONALD'S CORP (MCD) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."