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6/16/2020, 2:23 PM (Source: TeleTrader)
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McDonald's int'l sales 'heavily' affected by crisis

McDonald's Corp. revealed on Tuesday that outside the United States, the company's sales in April and May were massively affected by temporary closures of its restaurants due to the coronavirus pandemic. On the other hand, the same-store sales in the US annually fell just 5% in May which comes as a better-than-expected result.

McDonald's noted that the $200 million marketing contribution will be recorded in the results for the second quarter of 2020 together with other selling, general and administrative expenses.

Commenting on the data, McDonald's Chief Executive Chris Kempczinski said that he is confident in the company's "ability to manage through the immediate challenges and emerge from this pandemic in a position of competitive strength."

Baha Breaking News (BBN) / TF