McDonald's reported that sales declines did decelerate in May.
The company said in a regulatory filing that comparable-store sales dropped 21% in May, compared to a 39% plunge in April.
U.S. same-store sales dipped 5% in May, compared to a 19% drop in April. In international operated markets, sales fell 41% in May, compared to a 67% drop in April. In international developmental licensed markets, sales slid 20% in May, compared to a 32% fall in April.
As for the U.S., “comparable sales results steadily improved throughout the months of April and May,” McDonald’s said.
“However comparable sales and guest counts remained negative, particularly the breakfast day part. Comparable sales continue to benefit from strong average check growth,” the company said.
“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.
Jim Cramer said that he believes that people "crave McDonald's."
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