McDonald’s says restaurant closures in Russia will value the chain $50 million a month : shares

McDonald’s stated its restaurant closures in Russia will value the corporate hundreds of thousands of {dollars}.

Talking at a UBS client and retail convention on Wednesday, and reported by CNBC, CFO Kevin Ozan stated that whereas McDonald’s remains to be evaluating the total impression on the enterprise, it estimates that the closure of its practically 850 eating places in Russia will value the chain round $50 million per 30 days.

The fast-food big had come underneath intense stress to behave in response to Moscow’s choice to invade Ukraine, and introduced Tuesday that it could briefly shut doorways in Russia. A few of its main rivals within the meals and beverage area, together with Yum Manufacturers-owned KFC, adopted swimsuit shortly after.

McDonald’s has promised to proceed paying the wages of the 62,000 staff it employs in Russia whereas its shops stay shuttered. Ozan additionally stated on the UBS convention that the corporate will proceed to pay the leases for its shuttered shops, together with different provide chain prices, per CNBC.

McDonald’s says restaurant closures in Russia will value the chain $50 million a month (

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