COVID-19 has made eating at McDonald's much cheaper: charts
McDonald’s (MCD) provides a helping hand with online offerings to attract consumers who have decided to simply prepare their food at home instead of venturing outside to visit a passage during the COVID-19 pandemic.
At least, this suggests new data from experienced restaurant analyst Jon Tower in Wells Fargo. Tower recorded a "significant increase" in the number of deals at McDonald's in May 2020 compared to May 2019. The Golden Arches positioned themselves to "gain market share" in the midst of the health situation and "take advantage" of market share opportunities from restaurants under severe pressure. in restaurants according to the tower.
McDonald's was most active in major markets such as New York City and Chicago (see Tower diagrams below).
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McDonald's online offerings are increasing in New York.
McDonald's online offerings are increasing in Los Angeles.
McDonald's online offerings are on the up.
However, it is unclear whether the flood of deals did the trick for selling.
McDonald's stock has lost 5% since the beginning of the year and is one of the worst performing fast food stocks during this period as consumers have chosen more delivery-friendly options:
Wingstop: + 36% since the beginning of the year
Domino's Pizza: + 27% since the beginning of the year
Papa Johns: + 25% since the beginning of the year
Chipotle: + 18% since the beginning of the year
Yum! Brands: -9.8% since the beginning of the year
Shake Shack: -9.9% since the beginning of the year
Restaurant brands: -13% since the beginning of the year
Dunkin brands: -14% since the beginning of the year
Starbucks: -15% since the beginning of the year
McDonald’s announced in a sales update in early April that results in certain markets had "significantly" decreased due to the pandemic. The company saw a 3.4% drop in global sales in the same store later this month.
Brian Sozzi is the editor-in-chief and co-moderator of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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