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McDonalds Shuts Down Hundreds Of Stores Worldwide As Sales Decline

Friday, April 24, 2015 7:14

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by John Vibes

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It was announced this week that McDonalds will be closing hundreds of stores worldwide, as global sales continue to decline. To begin the year of 2015, the infamous fast food chain will be closing at least 700 of its locations, which is double the number that was planned for closure earlier this year.

In the first 3 months of 2015, McDonalds saw a 2.3% decrease in sales and a 28% drop in operating revenue, continuing a trend of loss that the company has been experiencing for years.

Speaking in a conference call with the Wall Street Journal earlier this week, the company’s new CEO, Steve Easterbrook said that massive changes will be needed to improve McDonald’s struggling reputation.

“I think there is a hunger and an interest in our business to embrace change. McDonald’s management team is keenly focused on acting more quickly to better address today’s consumer needs, expectations and the competitive marketplace,” Easterbrook said.

Over 100 of the recent closures happened in Japan, where McDonalds has faced a number of scandalds relating to the quality of their food.

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