McDonald’s also presented Q1 earnings yesterday with a similar pattern – positive January and February US sales followed by a dramatic fall-off beginning in mid-March. The US same store sales bottomed out at -35% and improved to -25% in mid-April. Virtually all US units are open, and the drive thru sales mix rose from 67% to 90%. Similar to Dunkin, traffic was down, but ticket was up, driven by higher items sold per transaction. It also had much lower breakfast sales and in response, moved to a simplified menu. McDonald’s noted it was assisting franchisees on a case by case basis via rent deferrals. The franchisee association, the US National Operators Association has recently been critical that a deferral was not meaningful cash flow relief. McDonald’s CEO noted that next quarter results financially for the corporation would be much worse, but did not comment about franchisee expectations.