updated - July 7, 2020 Tuesday EDT
For the first time in 40 years, American fastfood chain McDonald's Corp. will close more restaurants in the U.S. than it is opening as the company continues to struggle against increased competition, preference for healthier food and loaded menus that slow down service.
Yum Brands Inc's chief executive said on Wednesday the company still must fully convince diners in its top market of China that food at its KFC restaurants is safe, following a pair of safety scares, and predicted 2014 would be a "strong bounce back year."
In this fast paced environment, more and more people are eating out at fast food restaurants. According to a newly released Gallup poll, eight out of 10 say they eat out at quick-service restaurants (QSR) at least monthly.
McDonald's reported second quarter earnings on Monday which reflected a profit increase of 4 percent, but still fell short of Wall Street expectation due to economic instability on its customers around the word.