McDonald's to Shrink in U.S. for First Time Ever

For the first time in at least 45 years and likely ever, McDonald's Corporation MCD will close more stores in the U.S. than it opens, according to the Associated Press. The brand currently has around 14,300 stores in the country. As of April, the chain was on track to close 700 stores in the U.S., Japan and China. A spokesperson for the company told the AP that any reductions from the 14,300 total would be "minimal." And when compared to competition like Burger King, McDonald's is far and away the largest chain.

McDonald's is in the midst of a turnaround led by new CEO Steve Easterbrook, which aims to improve quality and appeal to customers that want healthier alternatives. The company even started testing kale – just two months after mocking the health food in a Super Bowl ad campaign.

McDonald's does, however, continue to grow globally. The company, which had 36,000 stores, plans to add at least 300 this year. And the company is also revving up its ad campaign, bringing back the Hamburglar.

Year to date, the stock has performed roughly in line with the broader market, gaining 2.8 percent compared with 2.77 percent gains in the S&P 500. Over the past 52-weeks, however, the stock has severely underperformed, falling 5 percent versus gains of 8 percent in the broader index. The stock has failed to stay meaningfully above $100 per share, currently trading at 96.36.