Business did improve for McDonald’s throughout the second quarter as restrictions lifted across the globe, but the fast food giant faces a bumpy – and expensive – recovery.
McDonald’s President and CEO Chris Kempczinski said the coronavirus pandemic continues to cause uncertainty and depress consumer sentiment. But he believes the April-June period will be the trough in the company’s performance.
“McDonald’s has learned to adjust our operations to this new environment,” Kempczkinski said Tuesday in a conference call with investors.
Of the chain’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 only 12% by June.
The recovery is uneven, however. In general, stores with drive-thru windows are recovering more quickly as customers try to limit contact, the company said. Restaurants in urban centers, malls and tourist locations are having a harder time.