Retail News

Closed restaurants tank McDonald’s sales

Reuters/Yahoo Finance 07/28/2020

McDonald’s reported a 23.9 percent decline in same-store sales for the second quarter as the COVID-19 pandemic forced the burger giant to close restaurants in markets around the globe. The chain’s same-store sales in the U.S. fell 8.7 percent in the quarter as the company simplified its menus and shifted its business to focus more on pickup, delivery and drive-throughs. “Our strong drive-thru presence and the investments we’ve made in delivery and digital over the past few years have served us well through these uncertain times,” CEO Chris Kempczinski said.

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