 "Shops are seen closed during the nationwide lockdown 5 imposed in the wake COVID 19 Coronavirus pandemic at Thane in Mumbai.")
Despite the impact of Covid-19 on the June quarter (Q1), the stock of Westlife Development, the India franchise of McDonald’s, has gained 3 per cent after its results were announced last Thursday, outperforming the Sensex’s one per cent fall. Good business recovery, along with additional stores becoming operational after the lockdown (since end-March), helped improve sentiment. However, analysts are advising caution.
The firm saw around four-fold improvement in June sales vis-à-vis April, as the number of operational stores rose to 263 , versus 119. Its convenience platforms such as McDelivery, take-out, and Drive Thru are either above or near pre-Covid levels.
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