McDonald's said it would
book more than $200 million in charges in the June quarter related to its
planned sale of 4,000 restaurants to franchisees by 2018, the company said
Thursday.
The $235 million charge,
which also includes some costs tied to relocating its headquarters to downtown
Chicago, would lower profit by about 20 cents a share, the company said.
The fast-food chain,which
had outlined the plans last year as part of a financial push intended to appeal
to investors, has targeted $500 million in general and administrative savings,
mostly to be realized by the end of 2017.
The Illinois-based company
had said that after the sales, 93% of its locations would be owned by
franchisees. The company ultimately wants to increase that number to 95%.
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