(NEW YORK) McDonald’s is in even worse shape than we realized. Profits are crumbling, sales are shrinking and guest traffic is declining all around the world. That’s leading McDonald’s to close at least 900 of its restaurants worldwide.
Consumers are defecting for healthier and fresher options like Chipotle, the burrito chain that McDonald’s sold off almost a decade ago.
The world’s largest burger chain announced more depressing results on Wednesday, April 22nd for the first three months of 2015.
The company vows a turnaround plan is coming. It will reveal the “initial details” on May 4th. In a preview of what might be coming, McDonald’s has announced that it’s closing at least 900 struggling restaurants, mostly in Japan, the U.S. and China.
Filed under: Corporations