McDonald's is working to introduce a $5 value meal [CNBC]
Bank of America Corporation (BAC)
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Source: CNBC
The $5 meal could include four items – a McChicken or McDouble, four-piece chicken nuggets, fries and a drink, two people familiar with the matter told CNBC. The value meal was first reported by Bloomberg News The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank of America. Executives from McDonald's to Wendy's to Dave and Buster's have all noted the restraint in spending. McDonald's recently reported a mixed first quarter , with U.S. same store sales slightly missing expectations. Higher prices helped to grow average checks, but some consumers pulled back as a result of the steeper costs. “Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending, which is putting pressur
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