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It's not too late for McDonald's: Analysts

Sarah Lockyer, editor-in-chief of Nation's Restaurant News, said that McDonald's has two major problems it needs to fix.

"They have a brand problem and a reputation problem," she told CNBC's "Street Signs" on Thursday.

The other challenge is the transition to technology. The fast food giant doesn't have a mobile app—something a lot of other chains are using to attract more customers who would rather order and pay online.

In this July 24, 2013 photo, McDonald’s CEO Don Thompson speaks during an interview at McDonald's headquarters in Oak Brook, Ill.
Daniel Acker | Bloomberg | Getty Images
In this July 24, 2013 photo, McDonald’s CEO Don Thompson speaks during an interview at McDonald's headquarters in Oak Brook, Ill.

But Lockyer doesn't think it is the end for McDonald's because "there's a whole sector of customers out there that wants food that's fast and cheap."

She added that the company has made a huge turnaround before—with the "Plan to Win," to help struggling sales and revenue.

"Let's not forget that ... they were really struggling and they put out the 'Plan to Win' and McDonald's could almost do no wrong from 2008 to 2012. So they can do it again."

Herb Greenberg, partner at GVB Financial Research, told "Street Signs" Thursday that he thought ex-CEO Don Thompson was "handed a bad hand" and that "he came after a really great leader."

He said that the company now needs to simplify itself and become less "stale." He added that McDonald's will have to boost capital expenditures and the changes will take a while.

"It's still a great brand," he said. "They can reset the clock on this thing."