July 28, 2020

McDonald’s profits tumble, shifting focus to value amid US economic woes

New York (AFP) – The coronavirus pandemic took a bite out of McDonald’s profits and the Big Mac maker said Tuesday it plans to focus on affordability in upcoming marketing campaigns as US consumer surveys reveal mounting recession fears.But while there is still a lot of uncertainty because of COVID-19, executives expect the second-quarter to be the low mark for the year. The fast-food company suffered a 68 percent drop in profits to $483.8 million, but the impact was mitigated somewhat by drive-through sales that are becoming a bigger factor in European markets.  Chief Executive Chris Kempczin…

source https://this.kiji.is/en/660915599863678049?c=648607265489716321

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