Global fast food giant Mcdonald's Corp MCD released comparable sales figures for April and May on Tuesday morning and offered an update on the COVID-19 impact to its business.
Same-Store Sales Update: McDonald's said its comparable sales across all regions improved month-over-month in May.
U.S. same-store sales were down 19.2% in April, International Operated Markets same-store sales were down 66.7% and International Developmental Licensed Markets & Corporate were down 32.3%.
Companywide same-store sales were down 39% in April.
Throughout May, U.S. same-store sales were down 5.1%, International Operated Markets same-store sales were down 40.5% and International Developmental Licensed Markets & Corporate were down 20%.
Companywide same-store sales were down 20.9% in May.
Reopening Stores: Across the globe, 95% of McDonald's stores were operating as of June 15 versus 75% as of April 30.
In the U.S., more than 1,000 restaurants opened their dining rooms with reduced seating capacity while approximately 100 restaurants remain closed due to their locations in a mall or a unique site, the company said.
The guest count remains negative in U.S. stores, especially during breakfast hours, according to McDonald's — yet the the company said it is benefiting from "strong" average check growth.
Accelerated Recovery Plan: McDonald's announced a plan to accelerate its COVID-19 recovery through investments in its system.
The company expects to invest around $200 million in incremental market campaigns across the U.S. and international markets.
The company also plans on offering targeted financial support to the restaurants most negatively impacted and to those facing "unique circumstances," such as those operating with a majority of sales coming from the delivery channel.
MCD Price Action: The stock was up 0.46% at $190.38 at the time of publication.
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