As McDonald's embarks on a prolonged plan to regain momentum and set its restaurants up for more growth, CEO Steve Easterbrook said the company has "stretched" itself with its cost-cutting program.
Easterbrook shed some light on its financials in an interview with CNBC's "Squawk on the Street." A day earlier, the company provided an update on its turnaround plan during about four hours of presentations for its investor day. As part of the update, it boosted its net annual general and administrative expense savings target to $500 million, the vast majority of which the chain will realize by end of 2017.
Its stock price was up slightly on Wednesday. (Click here for the latest price.)