McDonald’s cuts down its FY forecast as Q1 sales misses

McDonald’s cuts down its FY forecast as Q1 sales misses

McDonald’s global comparable sales tumbled 22.2% in March. The burger chain has cut down its full-year forecast as coronavirus-related lockdowns forced its outlets to close with only the delivery or take-out options available. On backdrop of this, company has raised $6.5bn in the qtr, suspended share buybacks to bolster its cash reserves and is expected to reduce capex by ~$1bn for 2020.

Milan
Milan
Top in Business
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