McDonald's Business Is Under Historic Strain
Investors had been bracing for some rough operating metrics in McDonald's (NYSE: MCD) first-quarter report, which included the start of stay-at-home orders across its biggest markets. The fast-food giant has been accumulating cash in response to the slump and in early April withdrew its 2020 financial targets.
This week, McDonald's revealed the scale of the challenge COVID-19 represents to its business. The novel coronavirus has sent customer traffic diving and forced sustained closures in about 25% of its global store base. Let's take a closer look.
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Source Fool.com
