U.S. fast-food chains cut discounts, push pricy meals post-pandemic [DailyFinance (AOL.com)]
McDonald's Corporation (MCD)
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Source: DailyFinance
By Hilary RussNEW YORK (Reuters) - Restaurant chains including McDonald's Corp and KFC are paring back $5-and-under "value" items in favor of more expensive $10-to-$30 combination meals, a strategy employed to lift sales and profits and offset rising food costs as the U.S. economy reopens."Value" meals – sandwich, soda and French fry combinations priced at $5 or less — have long been a staple of fast-food offerings. Chains used the deals to lure bargain-conscious customers, bringing traffic to stores. But deals priced at $5 and under have become less generous in the last 18 months.During the pandemic, fast-food gained market share from other restaurants forced to close as customers motored through socially distant drive-throughs to pick up a sack of burgers. Now that the United States is reopening, those chains are selling new, pricier sandwiches and meals to customers - a move that some warn may alienate some hourly workers and other lower-income customers as government subsidies wan
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/18/24 - Form PX14A6G
- 4/9/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- MCD's page on the SEC website