Burger King CEO: Overseas Market Is Our Focus
Every king need land to rule--and now Burger King is looking for more territory to help expand its "reign." The fast food company recently announced plans to develop restaurants in Japan. But--with increasing competition-a fight over trans-fats--and health concerns over fast food--is now a good time to expand?
John Chidsey is CEO of Burger King. He was on "Morning Call." Chidsey said that Burger King hadn't expanded in Asia before--because it wasn't really a focus of the company--until now. He said that BK will probably open about 50 to 100 outlets in Japan. He also said that BK will open about 20 in China--where some 1.4 billion people live. He said Japan would have the highest return on investment-as Japan has a higher income level.
Chidesy noted McDonald's more than 7,000 outlets in Asia--and said his company has a long way to go--but that there's plenty of room for growth. On the trans-fat battle--Chidsey said BK is working on a trans-fat tree french fry--which should be out in about 90 days. He's not concerned about government intervention in trying to control the fatty content of foods.
And on the economy in general--Chidsey says he's "bullish" about next year for U.S. stocks.