Reportedly, 25 percent of McDonald’s Corporation (MCD) restaurants around the world remain closed due to the ongoing coronavirus crisis as Restaurants are closed in the countries of France, Italy, Spain, and the United Kingdom. However, un the U.S 99 percent of McDonald’s restaurants remain open offering drive-thru, delivery, and/or take-away food but across the globe, only 45 percent of its restaurants remain open.
“Beginning in mid-March, we experienced a significant decline in our results that varies across markets. The variation reflects the different levels of consumer behavior and government response. … Globally, sales results began to markedly decline during the second half of March due to COVID-19, which caused significant restaurant closures and ‘shelter-in-place’ guidance,” the company stated.
In March the company witnessed sales declining for more than 13 percent in the U.S.in comparison to a year earlier, and sales dropped 34 percent internationally from a year earlier, for a total comparable sales drop of 22.2 percent globally.
McDonald’s Corporation (MCD) is the leading global foodservice retailer with nearly 37,000 locations in over 100 countries. The Corporation operates and franchises McDonald’s restaurants in the US and across the globe with over 90% of its restaurants owned and operated by local, independent businessmen and women. To learn more about McDonald’s Corporation (MCD) and to track its progress please visit the Vista Partners McDonald’s Coverage Page.
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