(NewsNation) — Fast-food giant McDonald’s has extended a $5 value meal deal through December to increase profitability while bringing more lower-income diners back into the fold.
The value meal, which includes a McDouble or McChicken sandwich, small fries, a four-piece chicken McNuggets and a small drink for $5, was originally available through the end of August.
However, the Chicago-based chain announced Thursday that the value meal deal would run through December in most U.S. markets and that additional value meals would be offered throughout the fall on its mobile app. In some markets, the McDouble meal could cost $6 rather than $5, according to reports.
“Together with our franchisees, we’re committed to keeping our prices as affordable as possible, which is why we’re doubling down with even more ways to save,” McDonald’s U.S. President Joe Erlinger said in a statement released by the chain.
McDonald’s unveiled the summer value meal after declining second-quarter numbers released in July showed the fast-food chain’s global comparable sales dropped by 1% and its U.S. sales dropped by 0.7%. Erlinger wrote in a memo obtained by CNBC that McDonald’s had failed to sell customers on the affordability of the chain’s food offerings and that he expected industry and competitive challenges to continue for the remainder of the year.
“Reversing the narrative and re-establishing our position as the leader on value and affordability is possible, but it cannot be done overnight,” Erlinger wrote in the memo, according to CNBC. “It will happen through sustained and coordinated actions that show the customer we’re on their side.”
In addition to extending the $5 meal deal, McDonald’s is also expected to offer special deals on its mobile app like 50-cent cheeseburgers for National Cheeseburger Day as well as reduced prices for its McChicken sandwich and Chicken McNuggets for limited times, according to reports.
The deals come as federal economic data shows that fast-food prices jumped 4.3% year over year in August.
McDonald’s saw increases in sales once it introduced its $5 meal deal, which was part of the decision to extend the offer through December, according to the industry website Restaurant Business.
Last month, Burger King announced it would be extending its $5 Your Way meal deal through October. That deal includes a Whopper Jr. or a bacon cheeseburger plus a four-piece chicken nuggets, small fries and a drink.
Like McDonald’s, Burger King executives said the introduction of the $5 meal had increased profits.
“We’re going to extend that $5 Your Way Meal now into October because we feel like it is working perfectly for the business, and we think customers are loving it,” Restaurant Brands International CEO Josh Kobza said in a statement, according to Yahoo! Finance.
Jimmy John’s has also offered a $10 Total Package Meal deal, which includes an 8-inch sandwich from seven options plus a bag of chips, a dessert — like a chocolate chip cookie or brownie — and a regular-sized fountain drink.
Taco Bell and Wendy’s are also offering certain items at discounted prices, the report indicated.
