McDonald’s confirms $5 meal promotion to lure customers back

McDonald’s has confirmed it will introduce a limited $5 combo meal this summer in hopes of attracting inflation-hit customers who turned away after the fast food chain’s price hikes.

The Chicago-based company said it will offer a month-long promotion starting June 25, where diners can choose from four items — either a McDouble sandwich or a McChicken, to go with small fries, a small soft drink and a four-piece meal. Chicken McNuggets for only $5.

McDonald’s has come under fire after some locations charged up to $18 for a Big Mac and $7.29 for an Egg McMuffin.

McDonald’s, like its peers, has raised prices moderately to high over the past year in response to rising costs of eggs and other raw materials. It also raised prices in California, where the state imposed a minimum wage of $20 per hour for fast food workers.

McDonald’s will roll out a $5 meal starting in late June in hopes of luring customers back to the fast food chain. AP

McDonald’s spokesman He told the Wall Street Journal The $5 meals are part of a strategy to offer nationally advertised value deals.

“This has been true since our inception and has never been more important than it is today,” the company said.

The Post requested comment from McDonald’s.

last week, Bloomberg News reported That McDonald’s was thinking about a $5 meal.

Global restaurant chains such as McDonald’s and Starbucks have seen lower-income customers choosing to eat more meals at home amid the cost of living crisis, forcing companies to offer bigger promotions to attract them to their outlets.

Some McDonald’s customers have reported that the locations are no longer offering free refills.

Guests can choose a McDouble with small fries, a small drink and four Chicken McNuggets.

McDonald’s, which has greater exposure to low-income people, reported last month that its global sales growth slowed for the fourth straight quarter.

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“I think it’s important to recognize that all income groups seek value,” CEO Chris Kempczinski said on a post-earnings call.

McDonald’s shares were up 0.8% as of Wednesday afternoon.

McDonald’s Corp missed quarterly profit estimates for the first time in two years, as budget-conscious consumers ignored its offerings and conflict in the Middle East affected the burger chain’s international sales.

The $5 deal, which is part of a month-long promotion, comes with an order of small fries. Noor Photo via Getty Images

Global comparable sales growth fell for the fourth straight quarter to 1.9%, with the company saying consumers are becoming “more discerning with every dollar they spend.”

Analysts had estimated a rise of 2.35%, according to LSEG data.

“The consumer is certainly very discerning in how they spend their dollars…I think it’s important to recognize that all income groups are seeking value,” McDonald’s CEO Chris Kempczinski said in a post-earnings call.

McDonald’s results were in contrast to those of other fast food chains that also relied on value menu items to attract customers who make fewer trips to restaurants.

“We have seen our relative affordability advantage decline in some markets,” Kempczinski added.

Restaurant Brands International, owner of Burger King, beat expectations on quarterly results, while Domino’s Pizza benefited from specials on pizza.

Inflation has prompted McDonald’s to charge up to $18 for a Big Mac at certain locations. Noor Photo via Getty Images

McDonald’s store sales in the first quarter grew 2.5% in the United States, sharply below last year’s 12.6% growth and slightly below estimates of 2.55% growth.

Comparable sales from the company’s international licensees, which accounted for 10% of its total revenue in 2023, fell 0.2%, offsetting positive trends from Japan, Latin America and Europe.

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Analysts had expected the unit to rise by 0.98%.

With mail wires

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