麦当劳

卖出麦当劳：开始只靠低价卖东西

2013 年 Fundsmith 卖出了麦当劳。特里·史密斯说，麦当劳销售数据接连不佳，估值却没降，难以加仓；它推出低至 1 美元的套餐，销售仍然不好，这让他相信麦当劳正在变成只靠价格竞争的生意，这正是他要回避的；「一元菜单」似乎也拖累了高价产品。相比之下，达美乐一个披萨卖近 6 美元，销售增长毫无困难。

This began to convince us that McDonald’s had started to become a business which was selling solely on price, which we seek to avoid, and it seems that its Dollar Menu has perhaps unsurprisingly handicapped its attempts to sell premium items.