McDonald’s Japan to close 131 stores

McDonald’s Japan will axe 131 stores, revamp its menu and refurbish 500 stores this year as it tries to reduce a projected US$319 million loss.

Listed McDonald’s Holdings Company (Japan) said it expects sales to fall by 14 per cent this calendar (and financial) year. Worse, it projects a loss of 38 billion yen (US$319 million) reflecting the ordinary loss and impairments. System-wide sales combine company sales and those of its franchisees.

The company says in the year ahead it will implement a Business Revitalization Plan aimed to “bring our customers visible points of change and become a Modern Burger Restaurant that Connects with Customers” .... http://insideretail.asia