The Clap
Burger King (NYSE: QSR) will commit to spending $400 million on renovations and advertising to revive the dying demand for the fast food chain’s products.
The Deets
The changes they are looking to invest in are the remodeling of around 800 locations and the equipping of about 3,000 restaurants with technology.
In addition, the company will increase its advertising expenditure by 30% over the next two years, starting in Q4 2022.
Why this Matters
On average, remodels drive a 12% increase in sales during their first year.
What Now
These changes aim to improve Burger King’s ability to meet profitability targets and are expected to show their effects beginning from the next quarter.
Burger King back from the dead 🍔
