"Starting Sept. 8, McDonald's will offer Extra Value Meals, which combine select entrées like a Big Mac, an Egg McMuffin or a McCrispy sandwich with medium fries or hash browns and a drink. Prices will vary by location, but McDonald's said Extra Value Meals will cost 15% less than ordering each of those items separately. To kick off the promotion, McDonald's will offer an $8 Big Mac meal or a $5 Sausage McMuffin meal for a limited time in most of the country."
"Higher prices have been been a drag on sales. McDonald's same-store sales - or sales at stores open at least a year - grew 2.5% in the April-June period, but that was mostly because of higher prices. Fast food visits by lower-income consumers dropped by double-digit percentages industrywide in the second quarter, McDonald's said. "Today, too often, if you're that consumer, you're driving up to the restaurant and you're seeing combo meals priced over $10," Kempczinski said during a conference call with investors in August."
McDonald's will introduce Extra Value Meals starting Sept. 8, bundling select entrées with medium fries or hash browns and a drink at roughly 15% less than buying each item separately. Initial limited-time prices include an $8 Big Mac meal and a $5 Sausage McMuffin meal in most of the country, with some regions paying $1 more. The chain has seen declining visits from households earning under $45,000 as higher menu prices eroded perceived value. Same-store sales rose 2.5% in April–June mainly due to higher prices, while lower-income visits fell sharply, prompting a value-focused response. Prices vary widely by location and have drawn viral attention after reports of very high local meal prices.
Read at The Mercury News
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