Low-volume restaurants in Walmart stores make up more than half of the McDonald's closures.
Of McDonald's 39,000 restaurants worldwide, 96% are now open, compared with 75% at the start of the second quarter. Comparable-store sales that were down 39% in April were down 12% by June.
Restaurants with drive-thru windows are recovering more quickly as customers try to limit contact. But locations in urban centers, malls and tourist locations are having a harder time, the company said. After reopening 2,000 dining rooms with reduced seating, the company paused reopenings in early July as coronavirus cases spiked. Last week, McDonald’s said it isMcDonald’s said second-quarter net income fell 68% to $484 million. Earnings, adjusted for one-time items, were 66 cents per share, well short of the 74 cents Wall Street was looking for, according to a survey by FactSet.
Same-store sales fell 24% for the entire quarter, a point shy of analyst projections. In the U.S., McDonald’s biggest market, same-store sales fell 9%. Last year, they were up 8% in the same period. Same-store sales fell 41% in international markets.
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