NEW YORK (TheStreet) --McDonald's (MCD) announced on Thursday that it plans to rollout both table service and touchscreen self-ordering kiosks in all of its 14,000 American stores. The move is indicative of CEO Steve Easterbrook's goal to give the consumer more control.
"We've asked customers to fit around our business model for the better part of 60 years and we have been very successful doing that. But now consumers in general are demanding much more choice and control over their lives," Easterbrook told CNBC.
"That guy is a heavyweight; he knows what he's doing," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning. "He recognized the company was very far behind when it came to technology and he intends to catch up and catch up very fast."
Cramer sees this move as symbolic of something the McDonald's franchisees want.
"Remember, this man understood who really runs McDonald's, its franchises. He got that from day one and he said I'm going to win them over,' Cramer said.
Regarding McDonald's stock, shares are slightly higher year-to-date. Cramer believes at current levels the stock may need to be "shaded" down resulting from a stronger dollar, but that the price is "fine."
Cramer is unwavering in his confidence in Easterbrook.
"The last numbers were just okay. Some people were worried about a strong dollar; I'm not worried about anything with that guy," Cramer contended.
Shares of McDonald's were inching lower in early morning trading on Friday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates McDonald's as a Hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins and solid stock price performance. However, as a counter to these strengths, the team also finds weaknesses including unimpressive growth in net income, weak operating cash flow and generally higher debt management risk.
You can view the full analysis from the report here: MCD