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McDonald’s closes 30 local stores


to_dave007

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to_dave007

MCDONALD’S Philippines shuttered 30 stores last year after lease expirations and some concerns with financial sustainability, but opened 16 new stores despite the pandemic.

Golden Arches Development Corp. (GADC), the master franchisee of the McDonald’s brand in the Philippines, posted a net loss of P967 million as of September last year, compared with the P1.2-billion net income in the same period in 2019.

Sales revenues fell 39% to P14.2 billion, with system-wide sales hitting P24.2 billion, mostly due to the impact of the stricter lockdown in the second quarter.

The company in an e-mail said that it opened 16 stores in 2020, and shut 30 as it assessed financial sustainability, leases expired, and lessors made redevelopment plans.

McDonald’s now has 655 stores in the country, down from 669 branches at the start of 2020 and falling short of a pre-pandemic growth pace that had led them to target running more than 700 stores by the end of 2021.

GADC President and Chief Executive Officer Kenneth S. Yang in a forum last month said that the restaurant sector was one of the most affected by the lockdown last year.

Only 38% of the fast food giant’s branches were operating during the stricter lockdown in March and April, and 84% were running at limited capacity by May.

The company had to make their products accessible to customers during the lockdown, he added, by expanding their delivery channels.

“In the dine-in component of restaurants, it’s still weak. However, other channels have offset some of that,” he said, noting that drive-thru and delivery services are increasing.

He expects continued lockdown restrictions to impede business recovery this year.

But Mr. Yang said the vaccination program would help improve consumer confidence, noting that the company must modify its operations to meet its customers’ health safety expectations.

https://www.bworldonline.com/mcdonalds-closes-30-local-stores/

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to_dave007

Passed by the McD several times in Mambaling CC a few weeks back when i was getting some car repairs and I estimate 6+ Food Panda and other delivery guys hanging around outside pretty much all the time. 

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wondersailor

If they were to close the one on my town it would only elicit a smug grin from me. The manager still will not allow anyone over 60 inside and since they nixed the fish sandwich all together, they can keep their fake "food".

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cvgtpc1

Weird me makes sure I hit McDs on my PI visits as I think its better there than the US.

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Chris24

I generally try to avoid McDonald's, but with kids it's hard.   And when they have the 2-for $5 deal going I'll pick up a couple of fish sandwiches.   I do enjoy trying their unique menu items when traveling internationally, the most memorable ones have been the Greek Mac (McDonald's style gyro) in Greece, and many years ago the Rice Burger in the Philippines.   In a strange way it feels like a symbolic dive into the deep end of culture shock - - mixing the unfamiliar with the familiar.  Yes, sheltered, I know. 

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to_dave007
38 minutes ago, Chris24 said:

I do enjoy trying their unique menu items when traveling internationally, the most memorable ones have been the Greek Mac (McDonald's style gyro) in Greece, and many years ago the Rice Burger in the Philippines.

Had a beer at a McD in Basel Switzerland in 1979.  Obviously memorable..  as I still remember it.

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SkyMan
On 4/26/2021 at 11:52 AM, to_dave007 said:

Had a beer at a McD in Basel Switzerland in 1979.  Obviously memorable..  as I still remember it.

A McBeer?

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to_dave007
23 minutes ago, SkyMan said:

A McBeer?

Don't be silly.. It was part of the Happy Meal.

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