McDonald's exit from Russia puts growth plans in disarray, analyst says [MarketWatch]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: MarketWatch
McDonald's Corp. announced its decision to exit its business in Russia after more than three decades due to that country's attack on Ukraine, a move that complicates the burger giant's growth plans, according to GlobalData. “Before the invasion, Russia – together with Ukraine – generated around 9% of McDonald's revenue and accounted for 3% of operating income. While McDonald's can take such a hit in its stride, it will leave a hole in its growth plans that is not easily filled in the near-term,” wrote Neil Saunders, managing director at GlobalData. McDonald's is looking for a local Russian buyer — and the name, logo, branding and menu will be removed from the sold locations. It expects to take a primarily non-cash charge of $1.2 billion to $1.4 billion. “The fact that McDonald's owns most of its restaurants in Russia means there is an asset rich business to sell. However, given the circumstances of the sale, the financial challenges faced by potential Russian buyers, and the fa
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website