McDonald’s announced hundreds of store closings last year that left customers all over the world in shock.
According to Fortune, the fast food company closed 350 additional locations in early 2015 on top of the 350 they originally said they would shut down. These restaurants were located in Japan, the United States, and China, and they were closed as part of McDonald’s plan to boost their sagging profits.
This news came after McDonald’s reported an 11% decrease in revenue and a 30% drop in profit for the first three months of year. This drop in the US is believed to be due to the fact that Americans are ditching fast food in favor of healthier options. When they do want burgers, Americans now tend to go to higher quality fast food restaurants such as Five Guys to satisfy their cravings.
McDonald’s CEO Steve Easterbrook admitted that executives at the company are getting frustrated.
“When business is a little tough like it is at the moment in the U.S., with cash flows being challenged, yeah, frustrations do arise,” Easterbrook said.
What do you think about these closings? Let us know your thoughts in the comments section.