McDonalds (MCD) Falls On Japan Exposure, Company Donates $2 Million
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McDonald's Corp. (NYSE: MCD) closed today down 1.4% at $75.63 per share as the company had to close just under 300 of their stores in Japan, out of total of 3,302 restaurants, due to the earthquake and tsunami.
In 2010, McDonald's sales to Asia/Pacific, Middle East and Africa (APMEA) 2010 revenue was $5.066 billion, or 21% of total sales. China, Australia and Japan (a 50%-owned affiliate accounted for under the equity method), collectively, account for over 50% of APMEA's revenues.
McDonald's said it will contribute to the Japan disaster relief efforts with a donation of $2 million USD, channeled through the International Federation of the Red Cross.
"The devastation in Japan has stunned and saddened the global community, and we're reaching out to help with this contribution," said Jim Skinner, McDonald's Chief Executive Officer. "We send our best to everyone affected by this disaster, including our employees and our customers."
In 2010, McDonald's sales to Asia/Pacific, Middle East and Africa (APMEA) 2010 revenue was $5.066 billion, or 21% of total sales. China, Australia and Japan (a 50%-owned affiliate accounted for under the equity method), collectively, account for over 50% of APMEA's revenues.
McDonald's said it will contribute to the Japan disaster relief efforts with a donation of $2 million USD, channeled through the International Federation of the Red Cross.
"The devastation in Japan has stunned and saddened the global community, and we're reaching out to help with this contribution," said Jim Skinner, McDonald's Chief Executive Officer. "We send our best to everyone affected by this disaster, including our employees and our customers."
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