McDonald's to debut new value menu in January amid turnaround
The sign for McDonald's in Times Square is seen in New York July 23, 2015. REUTERS/Brendan McDermid
Get Alerts MCD Hot Sheet
Join SI Premium – FREE
By Lisa Baertlein
LOS ANGELES (Reuters) - McDonald's Corp (NYSE: MCD) said it would debut a "McPick" U.S. value menu in January as turnaround efforts continue at the world's largest restaurant chain by revenue.
The first promotion will be "McPick 2 for $2," and will run from Jan. 4 through Feb. 8, McDonald's spokeswoman Lisa McComb said on Tuesday, adding that the menu would offer choice and flexibility.
McDonald's will still offer its Dollar Menu & More value menu, which will share some items with the McPick menu, McComb said.
McDonald's introduced the Dollar Menu & More to wean customers off its $1 value menu. The goal with McPick is to convince them to spend more money and to shake the chain's reputation for serving cheap food.
"I believe we can own the modern definition of value," McDonald's Chief Executive Steve Easterbrook said at the company's investor meeting last week, where he said new value platform was in the works.
Easterbrook, who has vowed to remake McDonald's as a "modern, progressive burger company," has been taking steps to bolster the taste and quality of McDonald's food by using butter instead of margarine on Egg McMuffins and switching to cage-free eggs and chicken from animals raised with fewer antibiotics.
In October, McDonald's reported a stronger-than-expected increase in third quarter sales at established restaurants, ending six straight quarters of flat or declining results.
(Reporting by Lisa Baertlein in Los Angeles)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bristol-Myers Squibb (BMY) stock slips despite earnings beat
- CCSC Technology International (CCTG) Appoints Jung Yi Chiu as Chief Strategy Officer
- RTX (RTX) awarded $344 million contract to modernize electronics unit for missile development program
Create E-mail Alert Related Categories
Corporate News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!