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McDonald’s Pulls Outlook as Sales Plummet

McDonald’s documented a drop in world-wide same-retailer revenue of 22% for the month of March as the coronavirus pandemic ravaged the world-wide overall economy.

The business withdrew its 2020 outlook from February and said it expects to shell out about $one.4 billion on cash expenditures in 2020, down from about $two.4 billion.

McDonald’s said same-retailer revenue grew eight.one% for the two months ended February 29 but then dropped 13% in March.

Quickly-meals still outperformed comprehensive-service dining establishments, which saw their transactions drop seventy nine% in the final 7 days of March, according to NPD Team. Transactions at fast-meals dining establishments fell 40%.

“This unprecedented scenario is switching the planet we are living in, and we will want to adapt to a new fact in its aftermath,” main government officer Chris Kempczinski said. “There will be extra difficulties and complicated business enterprise conclusions to be produced.”

McDonald’s lifted $6.five billion in

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