On April 8, 2020, McDonald’s Corporation (NYSE: MCD) issued a latest financial report including comparable sales results for the first quarter ended March 31, 2020, data on corporation liquidity and a statement regarding executive compensations.
As foot traffic has fallen, the company has reported a decrease in March earnings , and overall a positive growth for Q1(of just 0.1%). During the month of March in the U.S. the company saw a decrease in comparable sales of 13.4% and 34.7% worldwide.
First two months of 2020 saw an increase of 8.8% in the U.S. and 8.5% in international markets.
Several markets, such as France, Italy, Spain and the United Kingdom, have fully closed all restaurants, while China has resumed operations in 98% of restaurants.
MCD waithdrawed its 2020 outlook and they will provide an update on its business and financial results on its first quarter earnings call planned for April 30, 2020. A link to the live stream will be available at www.investor.mcdonalds.com
McDonald’s CEO voluntarily offered a 50% reduction in his base salary.
Shares of the company flatlined in premarket trading and are still trading at $175 as of 10:04AM EDT. Recently, shares were up 15%. The stock, which has a market value of $131.4 billion, has lost 12% since the start of the year.