The Golden Arches have lost some of their sales sheen during the coronavirus pandemic, but the real estate strategy of McDonald’s Corp. might serve up a bit of respite from an economic grilling.
McDonald’s reported April 8 that overall same-store sales dropped 22.2 percent in March, with U.S. same-store sales falling 13.4 percent. Globally, three-fourths of the chain’s restaurants are still open. But they’re depending largely on drive-through and delivery sales, as most dining rooms are closed. Foot traffic at McDonald’s restaurants in the U.S. plummeted 32.1 percent in March.. . . more