Fat Brands International Chairman and former McDonald’s USA CEO Ed Rensi discusses the future of restaurants and evolving job creation amid the coronavirus pandemic.
The “Golden Arches” saw its sales for stores open at least a year decline 5 percent in May, up from the 19 percent plunge the fast-food behemoth weathered in April due to the coronavirus pandemic.
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McDonald’s sales have continued to improve from late March, when lockdown orders kept a majority of residents homebound, through May, the company touted Tuesday.
Like its competitors, the chain has been heavily reliant on drive-thru service after local governments restricted dine-in services to mitigate the spread of virus that causes COVID-19.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD’S CORP. | 190.95 | +1.46 | +0.77% |
“Our strong foundation and the unique advantages of the McDonald’s System, including a high percentage of drive-thru restaurants and investments in delivery and digital, have enabled us to adapt to the changing landscape presented by the COVID-19 outbreak,” said McDonald’s CEO Chris Kempczinski. “I am confident in our ability to manage through the immediate challenges and emerge from this pandemic in a position of competitive strength.”
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To date, nearly all of its U.S. restaurants across the nation are operating drive-thru, delivery and/or take-options with a limited menu.
Milagrose Sarmiento works the drive-thru window at McDonald’s Restaurant in Sitka, Alaska, April 24, 2020. (James Poulson/The Daily Sitka Sentinel via AP)
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Over 1,000 dining rooms in the U.S. have also reopened with reduced seating capacity.
Roughly 100 remain shuttered due to their unique locations such as within malls, the company cautioned.
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Kempczinski believes the company is “well-positioned” for the next phase of the pandemic which has seen many states slowly phase in dine-in operations under restrictions.
