McDonald’s needs new promotions: Cramer

Jim Cramer said McDonald's (NYSE: MCD) All Day Breakfast program has not run its course and that the company is in need of new promotions to boost sales.

Cramer's comments followed the company's second-quarter earnings report. McDonald's stock fell more than 4 percent on Tuesday after the fast-food chain missed same-store growth estimates.

McDonald's introduced all-day breakfast at its U.S. restaurants in October to attract more diners in the face of growing competition from rivals. The move has helped the fast food giant see an uptick in sales, but the growth may not be strong enough for some investors.

Cramer said that he thinks McDonald's CEO Steve Easterbrook has done a good job with the company and will bring new things to it.

"I know he's going to bring technology, but he hasn't brought it yet," Cramer said Tuesday on CNBC's " Squawk on the Street ."

Cramer also noted that the company needs new promotions.

McDonald's has joined a partnership with "Pokemon Go" in Japan. Cramer said the move has put McDonald's "back to where it was."

— CNBC's Sarah Whitten contributed to this report.

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