This fall, McDonald's added a pumpkin spice latte to its roster of McCafe coffee drinks; Starbucks has had a version for years.
Starbucks, meanwhile, is stepping up its food business. The Seattle-based company recently revamped its sandwiches and introduced new salads and baked goods to become more of a lunch destination. About a third of purchases in the U.S. include food and Starbucks is looking to push that figure up.
But Starbucks CEO Howard Schultz doesn't like comparisons to chains such as McDonald's and Dunkin' Donuts.
"They're in another business they're fast-food," Schultz said in an interview on CNBC earlier this year.
Overseas, McDonald's also has about 4,200 separate McCafes that are either sectioned off from the main restaurant or stand-alone locations. McDonald's says it plans to add another 350 to 400 such McCafe locations next year.
Still, Thompson stressed that McDonald's remained in the restaurant business.
"We're not trying to be something we're not," he said.