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George Ma
in
Stocks
April 9 09:42

McDonald's global sales fell 22.2% in March

At the end of the first quarter, the figure fell by 3.4 percent. Indicator fell amid coronavirus outbreak.
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According to a press release of the company, comparable sales in the U.S. fell by 13.4% in March. At the same time, the index rose by 0.1% in January-March, thanks to an 8.1% growth in the first two months of the year.
McDonald's noted that almost all restaurants in the U.S. chain (99%) continue to operate. At the same time, they carry out only the issuance of orders, delivery and service of motorists.
75% of the chain's restaurants remain open in the world. In China, 98% of pl have resumed operation.
McDonald's also reported that Chris Kempchinski, CEO of the company, offered to cut his base salary by 50%, some other top managers also agreed to cut base salary by 25% from April 15 to September 30.
In addition, the company has withdrawn its forecast for 2020. McDonald's intends to publish its first quarter report on April 30.
In March, the company decided to suspend its share buyback program.