The Phaserl


McDonald’s to Close 700 Stores

by Kit Daniels, Infowars:

McDonald’s closed 350 stores in the first three months of 2015 and is planning to close an additional 350 by the end of the year.

The struggling fast food giant recently announced it was closing 350 poorly performing stores this year, but on Wednesday McDonald’s admitted it had closed a previously unannounced 350 stores in the U.S., Japan and China.

“Earlier on Wednesday, McDonald’s reported an 11% decrease in revenue and a 30% drop in profit for the first three months of year, a continuation of its troubles in the last two years as it has struggled to compete with new U.S. competitors, a tough economy in Europe and a food safety scare in Asia,” Fortune reported.

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