Coronavirus leads McDonald’s to close hundreds of restaurants in China

The exterior of a McDonald


The exterior of a McDonald's restaurant

McDonald’s reached a milestone in 2019.

The fast food giant reaped more than $100 billion system wide  “achieving our highest global comparable sales growth in over a decade,” company president and CEO Chris Kempczinski said in a statement.

But one global market that has been a focus the company’s investment is China, where authorities are currently dealing with the outbreak of the coronavirus which has sickened thousands and led to the deaths of over 80 people. 

McDonalds’s has closed all of its restaurants in Hubei Province, home to the city of Wuhan, the epicenter of the outbreak. While that represents hundreds of locations, roughly 3,000 McDonald’s restaurants throughout China remain open.

Kempczinski said in an earnings call with investors that roughly 9% of the company’s restaurants are in China, but the country represents only about 4% to 5% of sales system wide.


Source link

Categorized as Business

By Bernice Caldwell

Bernice is one of the finest authors Industry News Today portal has until now. Bernice's linguistic and well-written technique is one of the plus points that have the readers glued to her articles. Bernice currently heads the Healthcare and Services domain as her knowledge on the medical topics is immense. She has just joined the Industry News Today portal 6 Months back but the love for writing can be very well seen. She may be short on experience but it has definitely not stopped her from presenting some of the finest articles. Bernice is currently a very well-known personality on the portal to have shown her skillful writing in such a limited time span.

Leave a comment

Your email address will not be published.