Sources are reporting that McDonald’s is closing hundreds of its stores as it continues to struggle financially.
syracuse.com states: “Around the world, the company said that it was doubling the number of store closures this year to about 700.”
Eater.com states: “The chain revealed today in its first quarter earnings report that McDonald’s plans to slash costs by closing ‘about 220 under-performing restaurants primarily in the U.S. and China.’ There are also plans to shutter 130 restaurants in Japan. This is on top of the 350 restaurants the chain already shut down during the quarter.”
The company’s global sales dropped by 2.3 percent and there was an 11 percent decrease in total revenues. Bloomberg adds that same store sales fell by 2.6 percent this quarter and net income fell by 33 percent.
Fortune Magazine writes:
“The restaurant company closed 350 stores in early 2015, on top of the 350 it had already said it would shutter, as the burger purveyor seeks to stanch sales declines…”
“Those previously unannounced closings, disclosed on a conference call with Wall Street analysts on Wednesday, are on top of the 350 shutterings the world’s largest restaurant chain had already targeted for the year.”
700 restaurants is still just a small part of the 32,000 or more restaurants that McDonald’s operates.
In other McDonald’s News, one man is dead and two others are injured after a rash of gunfire outside a McDonald’s in Jacksonville, Florida. It happened in the parking lot of the McDonald’s around 10:30 p.m. on Wednesday.
The victims’ identities have not yet been publicly released.
Sergeant T.K. Waters with the Jacksonville Sheriff’s department said one victim in his mid-to-early 20’s was found slumped over the steering wheel of a white vehicle.
The other two victims, he said, went into the restaurant looking for help before they were transported to a local hospital. The men were last listed in critical and stable condition.