July 28, 2020

McDonald’s profits tumble on coronavirus hit

New York (AFP) – McDonald’s reported a steep drop in second-quarter profits Tuesday on much lower sales due to coronavirus closures that affected most of the chain’s worldwide network.The fast-food company suffered a 68 percent drop in profits to $483.8 million, following a 30 percent decline in revenues to $3.8 billion.Comparable sales tumbled throughout major markets for the food giant, but the US outperformed other regions because of drive-through and takeaway service that continued even where in restaurant dining service was stopped.Sales improved throughout the quarter in the US and in so…

source https://this.kiji.is/en/660821379062170721?c=648607265489716321

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