Updated 11/16/2009 9:25:59 PM
Monday, November 16, 2009
On the Business Beat, our focus is news from the fast food industry and big holiday sales.
A sign this morning that the economy may be looking up.... its from McDonald's.
The worldwide fast food chain plans to open 1,000 new restaurants worldwide next year and renovate more than 2,000 others.
Along with the new additions and upgrades, McDonalds says it's looking to boost sales by 5%.
And while on fast food, a major McDonald's competitor, Burger King, facing the recession head-on by trying to lure customers with a $1 double-cheeseburger promotion.
But its franchisees don't like it and are suing the chain, saying its costing them at least $1.10 to pay all the expenses associated with the product and they are losing money.
While both sides fight it out, watch for competitors to drop prices to compete.
And this note to jot down for upcoming sales on the day after Thanksgiving.
Discounter Target will offer $3 toasters and coffeemakers, along with the discounts of 50% off clothes and toys.
Also planned, flat screen TV's on sale, and $10 free gift cards if you spend $100 or more.
Watch for stiff competition on this one.
