McDonald's (MCD) To Launch Angus Burger
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McDonald's Corp. (NYSE: MCD) is launching its brand new Angus burger tomorrow, aimed at broadening its menu beyond low priced items, according to reports from Bloomberg and confirmed by industry analysts.
Three new one-third pound Angus burgers will be priced at about $4 and will be available nationwide for several months.
Given the recession it may be harder for McDonald's sell a premium item, but analysts say it is important for the company to offer a menu of both premium and value.
An analyst at Deutsche Bank notes that McDonald's has been testing the Angus burger for 2 years in about 500 U.S. restaurants in various markets. They also said the nationwide launch is a month or two earlier than they expected.
Deutsche Bank expects the product to provide some upward lift to check average but not a boost in traffic. They estimate Angus burgers could add 0.5% to 1% to MCD's US comps in coming months. The firm maintains their Buy rating on MCD.
Shares of MCD are up 1.4% today to $58.31.
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Is this new?
Mario Kingston on Jul 2, 2009 02:47 PMEither McDonald's or Burger King has offered this before and has advertised it on TV. I believe it was Burger King?