03-08-2022, 06:48 PM
good news - that 9% of worldwide revenue is fricken big deal - they're not leaving, but temp closing - that's fine for now.
Steve G. wrote:
McDonald's is shutting down its Russian restaurants
New York (CNN Business)McDonald's is temporarily closing its locations in Russia.
"McDonald's has decided to temporarily close all our restaurants in Russia and pause all operations in the market," CEO Chris Kempczinski said in a statement Tuesday.
There were 847 locations of McDonald's in Russia at the close of last year, according to an investor document.
Globally, most McDonald's (MCD) locations are operated by franchise operators. But that's not the case in Russia, where 84% of locations are operated by the company, according to the document. Russia's restaurants, along with another 108 in Ukraine, all operated by McDonald's, accounted for 9% of the company's revenue in 2021, according to the document.
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"... our values mean we cannot ignore the needless human suffering unfolding in Ukraine."