Pandemic takes a bite out of McDonald's sales
Quarterly profits plunged a worse-than-expected 68 percent at McDonald's with many of the fast-food giant's global locations forced to rely heavily on drive-thru and delivery during the past three months.
International sales were a major factor in that slump, according to company results released Tuesday. But in the U.S., where McDonald's has a third of all of its restaurants, sales were no where as dismal as everywhere else.
Still, CEO Chris Kempczinski pointed to McDonald's strong drive-thru presence and investments made in delivery and digital over the past few years, saying they have "served us well through these uncertain times."
Nearly 90 percent of all U.S. sales came through the drive-thru.
Like many restaurants, McDonald's has had to pivot during lockdowns by slimming down its menu and shifting mainly to online and mobile orders for pickup, delivery and drive thru.
As restaurants have started to reopen to limited dining, McDonald's has joined other U.S. restaurant chains and retailers in requiring face coverings be worn inside locations.
It is already starting to see a pick-up in U.S. business for the month of July, but says international sales continue to struggle.
