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McDonald’s reports on a monthly reduction of sales

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McDonald’s reports on a monthly reduction of sales
April 09
13:00 2020

The largest global chain of fast food restaurants McDonald’s Corp. has reported on the state of affairs. It became known that the drop in global comparable sales in March was 22.2%. Thus, in the first quarter, the indicator decreased by 3.4%.

McDonald’s, which is the American brainchild, has shown a 13.4% fall, its value for the quarter has amounted to + 0.1%.

Almost all American McDonald’s fast foods restaurants continue to operate at a time of pandemic. To tell the truth, they serve exclusively motorists and those who ordered takeaway food. By the way, in China,  98% of outlets have already been open.

Chris Kempczinski, CEO of McDonald’s, has cut his base salary by 50%, other top managers supported  the boss’s gesture, agreeing to cut the base salary by a quarter till the end of September.

McDonald’s is going to release financial reporting for the first quarter on April 30. But for now, the company management has stopped stock repurchasing program and withdrew the annual forecast.

Today, McDonald’s securities are confidently increasing. Since the beginning of the year, the company’s share price has fallen by about 11%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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