McDonald’s Loses Its Edge
McDonald’s Corporation (NYSE: MCD) had an edge over many retailers. Its locations were open longer than many other retailers over the early wave of the pandemic. People who did not want to shop at stores became fast food buyers. McDonald’s meals were cheap. However, these advantages have started to disappear. Shares in the company have dropped 7% this year, while the S&P 500 is off less than 4%.
McDonald’s food price advantages remain. People can get a full meal for $10 to $15. But, the new surge in the spread of COVID-19 has caused it to keep store hours short. The delay in openings will probably stretch another three weeks. People can pick-up at drive-throughs, but that means a drop in revenue, which could be substantial.
In the first two months of the second quarter, global sales dropped by 30%.
McDonald’s continues to have the fast-food edge in store count. It has almost 14,000 locations in the U.S. But, if they are not open some of that advantage is lost.
As McDonald’s announced its drop in April and May sales, CEO Chris Kempczinski said: “Our strong foundation and the unique advantages of the McDonald’s System, including a high percentage of drive-thru restaurants and investments in delivery and digital, have enabled us to adapt to the changing landscape presented by the COVID-19 outbreak. I am confident in our ability to manage through the immediate challenges and emerge from this pandemic in a position of competitive strength.”
However, the pandemic is worsening. No matter what advantages McDonald’s has over the competition only goes so far, under the circumstances.
New French government to be unveiled on Monday: Elysee sources
PARIS (REUTERS) – French President Emmanuel Macron is set to unveil a new Cabinet on Monday (July 6), two sources close to him said on Sunday, after Mr Macron changed his prime minister earlier this week to give new impetus to his presidency.
Mr Macron and his new prime minister, Mr Jean Castex, would meet at the Elysee presidential palace to discuss the shape of the new government later on Sunday, the sources said.
“At this stage, an architecture with about 20 ministers is envisaged. Junior ministers will be named in a second stage,” one of the sources told Reuters.
Argentina allows Olympic athletes to resume training
Argentina gives athletes due to compete in next year’s delayed Olympic games in Japan special permission to train.
Argentina’s government has given next year’s Olympic athletes special permission to train.
At the same time, it has reimposed tight restrictions on outdoor exercise for everyone else as a measure to control the COVID-19 pandemic.
Al Jazeera’s Daniel Schweimler reports from Buenos Aires.
Melbourne: Thousands in public housing towers asked to lock down
New coronavirus cases discovered in Australian city, as thousands of public housing residents are ordered to stay at home.
In Australia, 3,000 people living in social housing have been ordered to stay indoors.
This comes as coronavirus cases in the southeastern state of Victoria have spiked.
Al Jazeera’s Victoria Gatenby reports.
Indonesia reports 82 new coronavirus deaths, its highest daily tally
JAKARTA (REUTERS) – Indonesia reported 82 new coronavirus deaths on Sunday (July 5) in its highest daily tally, Health Ministry official Achmad Yurianto said, taking the toll to 3,171.
Infections rose 1,607, for a total of 63,749 cases, he added.
South Korea reopening: Domestic tourists flock to Busan's beaches
South Korea’s most popular beaches open for the summer but with extra precautions.
South Korea is going ahead with its annual opening of its beaches for the summer, but with special arrangements in place because of the pandemic.
Rob McBride reports from the city of Busan, which is a favourite tourist destination.
Bubonic Plague Case Reported in China’s Inner Mongolia
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A hospital in northern China’s Inner Mongolia reported one suspected case of bubonic plague on Saturday, according to astatement on the local health commission’s website.
A third-level warning alert was issued on Sunday; the warning period will extend to the end of this year.
The Bayannaoer health commission warned of the risks of human-to-human infection from the plague and urged people in the city to take precautions.
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— With assistance by Charlie Zhu
Man dead, woman seriously injured after overnight shooting in Denver – The Denver Post
Denver police said a man is dead after an overnight shooting in the Montbello neighborhood.
Police responded to a shooting in the 4600 block of N. Peoria Street around midnight, according to a tweet posted on the department’s official account.
Responding officers found a man and a woman who had been shot. Both were taken to a local hospital with serious injuries, but the man died from his injuries.
No suspect information was immediately available.
Denver weather: Lightning and wind possible Sunday afternoon – The Denver Post
Denver weather forecasters said another round of scattered storms is possible Sunday, with the potential for gusty winds and lightning.
Meteorologists at the National Weather Service said to expect sunny skies and temperatures to climb to 91 degrees on Sunday, but there’s a 20 to 30% chance of showers and thunderstorms between 4 p.m. and 7 p.m.
Things should calm down overnight, forecasters said, but the same pattern of hot temperatures and a chance for afternoon storms is expected through Tuesday.
On Wednesday, temperatures could spike to the upper 90s, the weather service said.