Sept 12 (Askume) – Burger chain McDonald’s (MCD.N) said on Thursday it has extended its $5 value meals at most of its U.S. stores until December.
The company launched its $5 meal deal in late June and extended it through August in an effort to retain budget-conscious customers unwilling to accept higher fast-food prices.
Falling demand at fast-food restaurants has fueled a boom in promotions, with restaurant brands Burger King (QSR.TO) , Wendy’s (WEN.O) and Taco Bell all relying on value meals to stimulate customer traffic.
“We’re committed to keeping our prices as affordable as possible, which is why we’re doubling down on our efforts to offer even more ways to save,” said Joe Erlinger, president of McDonald’s USA.
According to the latest annual report, McDonald’s has 13,500 stores in the United States.
So far this season, traffic at McDonald’s restaurants has been strong, which Jefferies analyst Andy Barish attributed to “the greater appeal of $5 meals and other promotions.”
McDonald’s results have been weak over the past few quarters. The company reported an unexpected drop in global sales in the three months ended June 30 , the first decline in 13 quarters.
The company also announced fall deals on Thursday, including free medium fries for every $1 spent every Friday and 10-piece Chicken McNuggets for just $1 from Nov. 4 through Dec. 2.
