Starting on January 7, next year, McDonald’s (MCD) announced it will introduce its new value platform, McValue, across its restaurants. The fast-food giant revealed that McValue will offer value meals priced at $5, exclusive in-app deals, and offers on local food and drinks.
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Why Is MCD Offering McValue?
Fast-food restaurants like MCD are trying to lure customers with value meals as they battle high inflation and shy away from its Big Macs. In its most recent quarter, McDonald’s posted better-than-expected Q3 results. However, the company faced a 1.5% decline in global same-store sales, indicating ongoing challenges in key markets. While U.S. same-store sales rose by 0.3%, the figure fell slightly short of analysts’ forecasts.
MCD Has Announced $100M Investment to Boost Sales
To boost its restaurant sales, McDonald’s has announced a $100 million investment aimed at driving recovery and supporting its franchisees. According to a report by CNBC, $65 million of this fund will be allocated to assist franchise owners who have lost business in the most affected states. The remaining $35 million will focus on initiatives designed to attract more customers to McDonald’s locations, including targeted marketing campaigns.
Is MCD Stock a Good Buy Now?
Analysts remain cautiously optimistic about MCD stock, with a Moderate Buy consensus rating based on 16 Buys and 10 Holds. Over the past year, MCD has increased by more than 4%, and the average MCD price target of $321 implies an upside potential of 11.3% from current levels.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
