NORTH WILDWOOD, NJ - AUGUST 26: A McDonalds is boarded up in preparation for Hurricane Irene August 26, 2011 in North Wildwood, New Jersey. The Cape May Department of Emergency Management ordered the evacuation of all residents and visitors of Cape May County in anticipation of a direct hit by Hurricane Irene. (Photo by William Thomas Cain/Getty Images)
McDonald’s announced hundreds of store closings last year that left customers all over the world in shock.
According to Fortune, the fast food company closed 350 additional locations in early 2015 on top of the 350 they originally said they would shut down. These restaurants were located in Japan, the United States, and China, and they were closed as part of McDonald’s plan to boost their sagging profits.
This news came after McDonald’s reported an 11% decrease in revenue and a 30% drop in profit for the first three months of year. This drop in the US is believed to be due to the fact that Americans are ditching fast food in favor of healthier options. When they do want burgers, Americans now tend to go to higher quality fast food restaurants such as Five Guys to satisfy their cravings.
McDonald’s CEO Steve Easterbrook admitted that executives at the company are getting frustrated.
“When business is a little tough like it is at the moment in the U.S., with cash flows being challenged, yeah, frustrations do arise,” Easterbrook said.
What do you think about these closings? Let us know your thoughts in the comments section.
Actress Sofia Vergara is absolutely gorgeous. And plans to stay that way. The 51-year-old recently told…
The singer Cher is speaking out this week to reveal why she allegedly turned down…
The 50 year-old Hollywood star Eva Mendes is speaking out this week to reveal why…
The country music star Colt Ford is opening up about the heart attack that he…
Chris Hemsworth, best known for his role as Thor in the Marvel cinematic universe, insists…
Michael Richards, who played Cosmo Kramer on the hit show Seinfeld that ran for nine…