McDonald's global sales plunge as Covid-19 lockdowns limit operations


McDonald's Corp on Tuesday reported a broad drop in global same-store sales and missed profit expectations, as its restaurants were shut due to the Covid-19 pandemic, limiting operations to only drive-thru and delivery. Shares of the Chicago-based burger chain sank more than 2.5 per cent.

Global same-store sales fell 23.9 per cent in the second quarter, dragged down by big international markets including the United Kingdom, France and Latin America. Analysts had forecast a 23.24 per cent fall, according to IBES data.....

This article is no longer available in our repository.

There could be multiple reasons for this.