McDonald’s (MCD) said today it would resume its full menu in some Chinese cities later this week. This comes two weeks after its Shanghai-based distributor, Shanghai Husi Food, was accused of using expired meat. McDonald's cut ties with the supplier, a unit of U.S.-based OSI Group, and had pulled beef, pork and chicken items from its menus in China.
McDonald's has had a rough few weeks. In addition to the food-safety scandal in China, the National Labor Relations Board said last week that the fast-food chain could be held liable as a joint employer with franchisees in lawsuits involving labor violations. The company also reported second-quarter sales in the U.S. dropped 1.5%.
Another major American company trying to turn things around is Wal-Mart (WMT). It's had five consecutive quarters of declining sales, but it's hoping to compete with Amazon (AMZN) and create more of a customized experience on its website. It plans to offer more products customers may like based on their previous purchases. The AP reports that Wal-Mart's new website features will also include local weather and events.
In an interview with The Economist, President Obama said Corporate America has done well under his economic policies and it should show greater social responsibility. “I would take the complaints of the corporate community with a grain of salt,” Obama told The Economist. He also said that his administration’s policy’s have been generally friendly toward business.
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- Consumer Discretionary
- National Labor Relations Board