(Reuters) -McDonald’s and its franchisees agreed to discount eight popular combo meal offerings by 15%, and offer $5 and $8 specials, the Wall Street Journal reported on Wednesday, as restaurants look to attract diners worn down by economic woes. The move follows weeks of discussions between McDonald’s and restaurant operators, including the company offering financial […]
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McDonald’s to offer discounted combo meals, WSJ reports
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(Reuters) -McDonald’s and its franchisees agreed to discount eight popular combo meal offerings by 15%, and offer $5 and $8 specials, the Wall Street Journal reported on Wednesday, as restaurants look to attract diners worn down by economic woes.
The move follows weeks of discussions between McDonald’s and restaurant operators, including the company offering financial support if franchisees agreed to drop prices, the report said, citing people involved in the discussions.
The chain will run $5 breakfast and $8 Big Mac and McNugget combo meal specials later this year, marketing them as Extra Value Meals, the report said.
McDonald’s declined to comment on a Reuters request. Its shares were up about 1% in morning trading.
Earlier this month, McDonald’s beat Wall Street estimates for second-quarter global comparable sales, as affordable meal bundles and promotions drew in budget-conscious diners looking to stretch their dollars amid concerns over inflationary pressures and the health of the economy.
The promotions, in addition to the $5 meal deal and the buy-one, add-one for $1 offers launched last year, included a limited-time Happy Meal for kids and adults tied to the “Minecraft” Movie promotion in April.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Shilpi Majumdar)