A sign for a McDonald's store in Austin, Texas, on October 30, 2023.
Brandon Bell | fake images
McDonald's is set to offer a $5 meal in the US, but only for a limited time.
The promotion will include four items for $5 (a McChicken or McDouble, four-piece chicken nuggets, fries and a drink) and will last about a month, starting June 25, according to a person familiar with the unauthorized offer. . talk about it publicly.
“We know how much it means to our customers when McDonald's delivers significant value and communicates it through national advertising. That has been true since our inception and has never been more important than today,” McDonald's said in a statement to CNBC.
CNBC reported last week that the fast-food giant was working to bring a value offering to menus, with franchisees discussing and voting on the details. An initial proposal for the meal did not clear the necessary hurdles.
Coca-Cola added marketing funds to the equation to make the deal more attractive, CNBC reported Friday. In a statement, Coca-Cola said: “We routinely partner with our customers on marketing programs to meet consumer needs. This helps us grow our businesses together.”
Financial terms of that partnership were not disclosed.
The month-long promotion comes at a time when restaurants are finally starting to feel a long-awaited consumer pushback.
McDonald's recently reported a mixed first quarter, with U.S. comparable sales slightly below expectations. Higher prices helped boost average checks, but some consumers pulled back as a result of higher costs.
“Consumers continue to be even more demanding with every dollar they spend as they face high prices on their daily spending, which is putting pressure on the [quick-service restaurant] industry,” CEO Chris Kempczinski said on the company's April 30 earnings conference call.
He added that McDonald's has to be “focused” on affordability to attract diners.
“Great value and affordability have always been a hallmark of the McDonald's brand, and the three legs of the stool come together to deliver that at a time when our customers really need it. This is the power and promise of the Arches Dorados,” John Palmaccio, owner and operator of McDonald's and president of the National Operators Advertising Fund, in a statement to CNBC about the $5 promotion.
— CNBC's Amelia Lucas contributed to this report.
