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In the context of the outbreak of COVID-19, public life and corporate profits have been influenced greatly. This paper takes McDonald’s as the case study object to explore the impact of competitive strategy on corporate profitability. Through investigation, it is found that McDonald’s profitability and operation are generally good due to its accurate competitive strategic positioning. However, under the impact of COVID19, the profit is slightly weak. Therefore, the paper helps clarify the concept that a reasonable competitive strategy has a positive effect on the profitability of enterprises. At the same time, this paper puts forward some views on the implementation of the strategy for the enterprises that take McDonald’s as the typical one to implement the cost leadership strategy. Besides, this paper also makes an appropriate extension on how enterprises should respond to such crisis situations as COVID-19 at the level of competitive strategy, which provides a new way for enterprises to get through the crisis.