McDonald's Readies $5 Meal Deal to Lure Customers Back Into Stores [BNN Bloomberg (Canada)]
Coca-Cola Company (The) (KO)
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Source: BNN Bloomberg
The deal could include a McChicken or a McDouble along with fries and a drink, according to a person familiar with the matter who spoke on the condition of anonymity. On the company's first-quarter earnings call, Chief Executive Officer Chris Kempczinski said McDonald's had to be “laser-focused on affordability” given how price-weary diners have become. The company's results were weaker than expected. “What we don't have in the US right now is a national value platform,” Kempczinski said, prompting questions from analysts about what such an offer might entail. At McDonald's, franchisees pay into an advertising fund and get to weigh in on major marketing campaigns, including promotions such as the viral Grimace Shake. A prior attempt to get operators — who run about 95% of US stores — to endorse the $5 meal initiative failed earlier this year, the person said. Some operators were concerned about losing money on the roughly four-week promotion, particularly in states such as Cali
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KO
Earnings
- 4/30/24 - Beat
KO
Sec Filings
- 5/16/24 - Form 4
- 5/15/24 - Form 144
- 5/14/24 - Form CERT
- KO's page on the SEC website