McDonald’s Looks to Save $1 Billion by Slowing Pace of Remodels

McDonald's (NYSE: MCD) first-quarter results weren't nearly as bad as one might expect, because the downdraft experienced in March when the coronavirus pandemic set in was offset by better the better results from January and February.

Yet President and CEO Chris Kempczinski is ensuring the company has plenty of liquidity to survive the crisis by announcing a series of moves to preserve its financial flexibility, including raising $6.5 billion in the debt markets and putting the brakes on McDonald's restaurant remodeling program.

Image source: McDonald's.

Source Fool.com