McDonald's to Close Hundreds of Stores in Walmart Locations

Many people shifted from in-person dining to takeout and delivery once the outbreak hit, which led to robust lines at the drive-thru and plenty of revenue for major players in the fast food space, like McDonald's (NYSE: MCD). Specifically, it intends to close hundreds of its restaurants located inside Walmart (NYSE: WMT) stores. Big-box retailers like Walmart have increasingly evolved into mini-malls, and the presence of in-store restaurants has historically been a draw for customers.