McDonald’s Closes 350 Global Restaurants as Sales Slump Continues
McDonald’s has closed 350 underperforming locations in the first quarter as the restaurant chain continues to deal with weak sales and fewer returning customers worldwide.
According to Nation’s Restaurant News, McDonald’s net sales dropped 33 percent in the first financial quarter, and sales are expected to be negative in April as well.
The restaurant closures affect 220 restaurants in the United States and China, and 130 in Japan, where customers this year found a human tooth, plastic, and a piece of vinyl in orders at three separate locations.
The company, which announced this week that it had begun eliminating deforestation within its supply chain — likely praying that some customer goodwill would come from this decision — blames the success of competing fast-casual chains.
“As the world’s leading restaurant company, we are evolving to be more responsive to today’s customer,” McDonald’s CEO Steve Easterbrook said in a statement.
“McDonald’s management team is keenly focused on acting more quickly to better address today’s consumer needs, expectations and the competitive marketplace. We are developing a turnaround plan to improve our performance and deliver enduring profitable growth.”