mcdonalds
New York (AFP) - McDonald's reported a modest increase in quarterly profits Tuesday despite a boycott stemming from the Middle East conflict expected to drag on sales for the foreseeable future. While the boycott is not "getting worse," Chief Executive Chris Kempczinski does not have a timeframe for a return to normal conditions. "We're not expecting to see any meaningful improvement in the impact... until the war is over," he told analysts on a conference call. Sales of McDonald's were dented after its Israel franchise in October announced it had given thousands of free meals to the Israeli a...
AFP
New York (AFP) - American fast-food giant McDonald's said Monday it will exit Russia in the wake of the Ukraine invasion, ending a more than three-decade run begun in the hopeful period near the end of the Cold War. The restaurant chain, which launched in Moscow in January 1990 to great fanfare almost two years before the Soviet Union was dissolved, characterized the withdrawal as difficult but necessary. "The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald's to conclude that continued ownership of the business in R...
AFP
New York (AFP) - American fast-food giant McDonald's will exit the Russian market and sell its business in the increasingly isolated country, the company said Monday. Many Western businesses have pulled out of Russia since its invasion of Ukraine in February. And earlier on Monday, French automaker Renault announced it had handed over its Russian assets to the government in Moscow, marking the first major nationalisation of the economic disentanglement. McDonald's in March closed all of its 850 restaurants in the country, where it says it employs 62,000 people. But on Monday it went a step fur...
AFP
New York (AFP) - Price hikes in the US market helped lift first-quarter sales at McDonald's, while profits tumbled due to an unspecified tax matter, according to results released Thursday. The "Golden Arches" chain scored an impressive 12 percent jump in global comparable sales, reflecting "strategic menu price increases" in the United States and improvement in many overseas markets as Covid-19 restrictions eased, the company said. But a weak spot was China, where the company suffered a drop in comparable sales following fresh government restrictions on Covid-19. The company also was hit by $1...
AFP
New York (AFP) - McDonald's sales and profits surged in the second quarter as pandemic restrictions were eased worldwide, according to the results released Wednesday which topped expectations. The global fast-food chain said total comparable store sales in the three months ended June 30 jumped 40.5 percent, pushing profits to $2.2 billion compared just $483.8 million in the same period of 2020. "Our performance is a continued demonstration of the broad-based strength and resiliency of our business," McDonald's President and Chief Executive Officer Chris Kempczinski said in the release, noting ...
AFP
New York (AFP) - Fast food giant McDonald's on Friday said hackers breached their servers and accessed data from customers in Taiwan and South Korea. The announcement by the iconic US chain about "recent unauthorized activity on our network" comes amid a wave of cyberattacks worldwide targeting everything from meatpacking plants to pipelines to public utilities, some of whom have had to pay ransoms to hackers. "While we were able to close off access quickly after identification, our investigation has determined that a small number of files were accessed, some of which contained personal data,"...
AFP
New York (AFP) - McDonald's announced Thursday it will hike wages at US company-owned restaurants as it seeks another 10,000 employees, while Amazon launched a North American recruitment drive with signing bonuses of up to $1,000. The inducements are the latest by big companies seeking to quickly staff up as the reopening US economy spurs a sudden uptick in consumer demand after the coronavirus-induced downturn. They come amid a pitched debate in Washington on whether US unemployment benefits have been extended too long and are now unnecessarily discouraging work at a time when Covid-19 vaccin...
AFP
New York (AFP) - McDonald's said Thursday it will raise wages at US company-owned restaurants and hire an additional 10,000 workers, the latest corporate response to a labor crunch as the economic reopening accelerates. Employers nationwide have reported trouble filling open positions as Covid-19 restrictions are eased, allowing businesses to resume operations, but some people still face challenges returning to work. The fast-food chain said it plans to lift hourly wages for about 36,500 workers by an average of 10 percent, boosting the entry level range to "at least" $11 to $17 an hour, while...
AFP
New York (AFP) - McDonald's reported higher first-quarter profits on Thursday, led by strength in the United States and some overseas venues that offset weakness in other markets due to ongoing Covid-19 restrictions. US comparable sales surged by 13.6 percent during the period, with higher average transactions offsetting a drop in guest counts. Growth in sales in delivery and digital platforms helped ensure that "our first quarter 2021 global comparable sales and revenues surpassed first quarter 2019 levels, even as resurgences and operating restrictions persist in many parts of the world," s...
AFP
New York (AFP) - McDonald's on Thursday reported a jump in US comparable sales in the third quarter, offsetting declines in international markets amid strong demand for affordable food options in a weakened economy.The fast-food giant said the US business benefited from larger group orders and improved dinner sales that made up for a drop in the number of customers. McDonald's also announced it was boosting its dividend.The chain has said its US business was comparatively well positioned for the coronavirus pandemic because many of the restaurants have drive-through and pickup services, even i...
AFP
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