Will Hurricanes Halt McDonald’s Sales Momentum?
It’s clear that hurricanes Harvey and Irma will dent restaurant profits around the nation. Just how much won’t remain a mystery for long—at least not when it comes to publicly traded brands.
The titan in this discussion remains McDonald’s, and reports Tuesday that the fast food chain would whiff on third-quarter expectations sent shares falling more than 3 percent, the biggest intraday drop since July 2016. It was sitting at $156.60 in early afternoon trading.