McDonald’s quarterly same-store sales fall more than market expectations

(Reuters) – McDonald’s Corp said first-quarter comparable sales declined 3.4%, as the world’s largest burger chain had to shutter stores and stick to delivery or take-out due to the coronavirus outbreak across the globe.

Analysts had expected same-store sales to drop 0.91% for the quarter ended March 31, according to IBES data from Refinitiv.

During the quarter, McDonald’s said it secured $6.5 billion of new financing.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shailesh Kuber)