:max_bytes(150000):strip_icc()/GettyImages-2159881840-e2e04c33a90644f9b7479e6e93e53199.jpg "The $5 McDonald’s Value Meal Deal Is Sticking Around for Awhile")
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Key Takeaways
- McDonald’s will extend its $5 value meal promotion, according to reports.
- Bloomberg and CNBC cited an internal memo that indicated the deal is bringing in customers.
- Most of the company’s restaurants will offer the promotion for longer than the originally planned four weeks, the reports said.
McDonald’s (MCD) will extend its $5 value meal promotion longer than anticipated because of solid demand, according to reports.
Bloomberg reported the deal — for a sandwich, drink, french fries and chicken nuggets — was supposed to run for four weeks from its June 25 launch, but some locations will keep it into August. It cited an internal memo saying that 93% of McDonald’s restaurants have agreed to an extension.
Shares of McDonald’s were recently up about 0.5%, trailing the S&P 500’s advance. The news comes as several fast-food companies have offered deals meant to give customers relief from inflation. McDonald’s and other chains have struggled as high inflation has reduced discretionary spending and cut into sales.
The news organization said the memo, by Chief Marketing Officer Tariq Hassan and National Field President Myra Doria, said that the early performance of the promotion “is meeting the objective of driving guests back to our restaurants.”
When McDonald’s customers are buying their $5 means, the memo said, “they aren’t visiting the competition,” according to a CNBC report. McDonald’s did not immediately respond to Investopedia’s request for comment.
McDonald’s shares have fallen a bit more than 12% this year.
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