McDonald's Outlines Restructuring Charges in Recently Completed Quarter

RetailDow Jones Newswires

McDonald's Corp. said Thursday that it expected to book pretax charges of about $130 million in its September quarter related to the company's previously announced restructuring and refranchising efforts.

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Last November, among other moves, McDonald's announced plans to increase the number of restaurants it would to sell to franchisees to 4,000 by the end of 2018, from its earlier target of 3,500.

McDonald's said Thursday that the charges total 12 cents a share after taxes and that it expected to incur more such costs in the future. The company will provide more details on the charges and its refranchising moves when it reports earnings on Oct. 21.