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☆ National Cheeseburger Day: Here are the deals to relish
▼ + stars: | 2024-09-18 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Wednesday is National Cheeseburger Day, with some of the biggest chains offering some much-needed discounts amid consumer complaints about rising prices. It’s part of company’s string of deals to kickstart slumping sales, including recently extending its popular $5 value meal until December. Fast food has been a low-profit margin business with little customer loyalty. McDonald’s pricey burgers have become a flashpoint of criticism and a symbol of elevated fast food prices. So deals are particularly crucial to fast food companies at the moment to lure customers back.

Persons: they’re, Burger King, Jack, Jack ” cheeseburger, ”, Joe Erlinger Organizations: New, New York CNN, Wednesday, McDonald’s Locations: New York, White, McDonald’s USA

McDonald’s will extend its $5 value meal into December in most U.S. markets as it looks to win back lower-income consumers. Franchisees have been voting on extending the value meal, and roughly 80% of local markets have opted to extend the deal into December. The value meal offers a McDouble or McChicken sandwich, small fries, four-piece chicken nuggets and a small soft drink for $5. The restaurant sector focused on value this summer, as companies including McDonald’s, Burger King and even Starbucks attempted to lure consumers in with discounted offerings. After McDonald’s posted declining second-quarter same-store sales in July, executives told restaurant operators and analysts the company would focus on how to recapture consumers with deals, as they pushed for an extension of the $5 value meal.

Persons: we’re, ”, Joe Erlinger, Burger King, McDonald’s, Erlinger Organizations: CNBC Locations: ” McDonald’s, U.S

☆ McDonald's to extend $5 value meal offer into December in most U.S. markets
▼ + stars: | 2024-09-12 | by ( Kate Rogers | In Katerog | ) www.cnbc.com time to read: +1 min

McDonald's will extend its $5 value meal into December in most U.S. markets as it looks to win back lower-income consumers. Franchisees have been voting on extending the value meal, and roughly 80% of local markets have opted to extend the deal into December. Votes on extensions are ongoing, so additional locations may be added in the weeks to come. The value meal offers a McDouble or McChicken sandwich, small fries, four-piece chicken nuggets and a small soft drink for $5. Owners will also be offering local promotions in the weeks and months to come, in addition to the value bundle, the company said.

Persons: we're, Joe Erlinger

☆ McDonald’s $5 value meal is sticking around until December
▼ + stars: | 2024-09-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —The McDonald’s $5 meal deal is staying on menus until December, a sign that inflation-weary customers are devouring value meals recently offered by fast food chains. The Chicago-based fast-food giant announced the $5 meal deal in June. In July, McDonald’s said that the vast majority of restaurants would keep it on the menu until August. The meal features either a McChicken sandwich or McDouble cheeseburger, small fries, 4-piece Chicken McNuggets and a small soft drink. McDonald’s also announced a slew of fall deals — from $0.50 Double Cheeseburgers for National Cheeseburger Day on Sept. 18 to a $2 McCrispy sandwich for National Fried Chicken Sandwich Day on Nov. 9.

Persons: McDonald’s, Chris Kempczinski, Burger, we’re, ” Joe Erlinger Organizations: New, New York CNN, McDonald’s USA Locations: New York, Chicago

☆ Here are JPMorgan's top stock picks for August
▼ + stars: | 2024-08-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Some stocks have been added and others on this month's list. EQT Corp. has been added, while Arista Networks and Coherent Corp. – two names on last month's list – have been removed. Here are some of JPMorgan's top picks for August: EQT was named as part of the bank's value strategy. Of consumer stocks, McDonald's is also viewed as a value play, with shares of the fast-food chain down 7% this year. For growth stocks, Amazon made the cut.

Persons: EQT, McDonald's, Joe Erlinger, Brian Olsavsky, Donald Trump, Olsavsky, Eli Lilly –, – Organizations: JPMorgan, Dow Jones, EQT Corp, Arista Networks, Amazon, Paris, Microsoft Locations: EQT, McDonald's U.S

☆ 72% of Americans worry Social Security will run out in their lifetimes. Here's what experts say
▼ + stars: | 2024-08-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Workers who pay into Social Security while they're working should expect benefits from the program when they retire. Yet 72% of adults worry Social Security will run out of funding in their lifetimes, a new survey from Nationwide Retirement Institute finds. Meanwhile, 23% do not expect to receive even a dime of the Social Security benefits they've earned. However, fears that Social Security benefits may dry up completely are overblown, experts say. Nevertheless, Americans shouldn't worry Social Security will disappear.

Persons: they've, Millennials, Xers, Harris, Vance, David Blanchett, We're, Blanchett, Joe Elsasser, CNBC.com, Elsasser Organizations: Workers, Social Security, Nationwide Retirement Institute, Finance, GOP, Social, Security, DC Solutions

☆ The reason why McDonald's stock is soaring despite a big earnings miss: Value meals
▼ + stars: | 2024-07-29 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

McDonald's global comparable sales fell 1% year-over-year last quarter, missing analyst estimates. The company plans to focus on value going forward as low income customers grow weary from inflation. McDonald's same-store sales fell 1% in the most recent quarter, marking the first decrease in same-store sales since 2020. Its net income for the quarter fell to $2.02 billion, down from $2.31 billion the year before. Low income customers, in particular, are shying away from fast food as inflation soas.

Persons: —, McDonald's, Chris Kempczinski, Joe Erlinger, Kempczinski Organizations: Service, Consumers Locations: New York, McDonald's, U.S

☆ McDonald's executives admit diners think prices are too high, say they're working to create value
▼ + stars: | 2024-07-29 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

McDonald's executives acknowledged Monday that diners consider the company's prices too high as lower-income consumers balk after years of high inflation. During the company's second-quarter earnings call Monday, executives said they are taking a "forensic approach" to evaluating prices and trying to create value. We are working to fix that with pace," McDonald's CEO Chris Kempczinski said on the company's earnings call. The offer also began to increase guest count growth, but it has not yet translated into sales increases, company executives said on the call. The $5 value meal was rolled out only days before the second quarter ended.

Persons: Chris Kempczinski, Kempczinski, Joe Erlinger, Erlinger, we've, — CNBC's Amelia Lucas, Kate Rogers Locations: U.S, Placer.ai

☆ McDonald's is falling short, needs to win over low-income consumers, key exec tells operators in memo
▼ + stars: | 2024-07-29 | by ( Kate Rogers | In Katerog | ) www.cnbc.com time to read: +3 min

After a challenging second quarter, McDonald's executives told restaurant operators and analysts they are refocusing on how to recapture consumers with deals, as they pushed for an extension of the its $5 value meal platform. "Reversing the narrative and re-establishing our position as the leader on value and affordability is possible, but it cannot be done overnight," he wrote. Erlinger also acknowledged areas where the company was "falling short" in the U.S. this quarter. But he added that trial rates for the value meal launch were highest among low-income consumers, and sentiment around McDonald's value has started to improve. The memo said the majority of locations will extend through August, or plan to vote on whether to do so.

Persons: Joe Erlinger, McDonald's, Erlinger Organizations: CNBC Locations: U.S

☆ Most people don't know how much their Social Security retirement benefits may be. Here's how to tell
▼ + stars: | 2024-07-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Klaus Vedfelt | Getty ImagesFor most retirees, Social Security benefits is a major source of income. In 2024, almost 68 million Americans will receive a per month Social Security benefit, totaling about $1.5 trillion in benefits paid during the year. How to get your Social Security benefit estimateTo help workers of all ages gauge their benefits, the Social Security Administration provides detailed statements. "The closer someone is to age 62, the more accurate it is," said Jim Blair, vice president of Premier Social Security Consulting and a former Social Security administrator. What to watch out forOne important reason to check Social Security benefit statements is to make sure there are not any errors in your earnings history.

Persons: Klaus Vedfelt, aren't, NIRS, Tyler Bond, Bond, Joe Elsasser, it's, Elsasser, Kamala Harris, Jim Blair, Blair Organizations: Social Security, National Institute on Retirement Security, Security, Social, Workers, Social Security Administration, Finance, Trump, Premier Social Security Consulting

☆ Why fast food value menus aren’t as good a deal as you might think
▼ + stars: | 2024-07-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

But just how much value is there in these kinds of “value” meals? Well, actually, not as much as you may think, since prices for many key ingredients used in value meals are coming down. Cheese, potatoes and tomatoes are getting cheaperMany of the recently announced value meals use cheese, potatoes and tomatoes. Meat eaters benefit the most from the value meal warIf you eat meat, you’re more likely to benefit from some value menu items. Given that meat prices are rising at a faster pace than most foods, it’s no wonder most fast-food chains are only offering value menus for a limited time.

Persons: McDonald’s, Joe Erlinger, ” Organizations: New, New York CNN, Taco Bell, Bureau of Labor Statistics ’, McDonald’s, Wall Locations: New York, Burger, McDonald’s USA

☆ It's official: McDonald's should stick to unhealthy food
▼ + stars: | 2024-07-08 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

At The Wall Street Journal's Global Food Forum in June, Joe Erlinger, the president of McDonald's US, detailed the company's missteps in meatless burgers and salads. Over the years, McDonald's has been able to fold in some noncore items — namely, coffee and chicken. It's not just consumer demand that's keeping McDonald's menu limited to the more-traditional, less-than-body-boosting items — it's its franchisees, too. And no one goes to McDonald's looking for greens. And no one goes to McDonald's looking for greens.

Persons: McDonald's, Joe Erlinger, Erlinger, Darren Tristano, Danilo Gargiulo, it's, Tristano, Benedict, hasn't, Gargiulo, Burger King, Burger, It's, they're, Emily Stewart Organizations: Food Forum, Dallas, Bernstein, Foods, Apple, Toyota, Consumers, McDonald's, Business Locations: San Francisco, Europe, Sweetgreen, Cava, McDonald's, Australia, Chicago

☆ Why McDonald’s removed salads from their menu
▼ + stars: | 2024-07-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

“If people really want salads from McDonald’s we will gladly relaunch salads,” said Joe Erlinger, the president of McDonald’s USA, in a June interview at the Wall Street Journal’s annual Global Food Forum. For McDonald’s, putting salads on the menu was likely a way to avoid the veto vote and stay atop recent healthy food trends. McDonald’s salads were “one likely source of these infections,” the CDC said at the time. McDonald’s removed salads from national menus in 2020 to help simplify restaurant operations, the company said. Another menu item that’s not coming to McDonald’s any time soon?

Persons: New York CNN —, ”, Joe Erlinger, McDonald’s, Covid, ” Erlinger Organizations: New, New York CNN, McDonald’s, Food, Wall Street Journal Locations: New York, McDonald’s

☆ I tried the McPlant, McDonald's meat-free burger, and I don't understand why American diners snubbed it
▼ + stars: | 2024-07-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

But the meat-free burger is on menus elsewhere, including Germany, Portugal, and the UK. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDon't expect to see the McPlant returning to McDonald's menus in the US anytime soon. "I don't think the US consumer is coming to McDonald's or looking for the McPlant or other plant-based proteins from McDonald's," he said. This story is available exclusively to Business Insider subscribers.

Persons: —, Joe Erlinger Organizations: Service, Food, Business Locations: Germany, Portugal

☆ McDonald's trialed the McPlant in California and Texas. It failed because people don't want a meat-free burger from the Golden Arches.
▼ + stars: | 2024-06-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

You won't see the McPlant on McDonald's US menus anytime soon. Trials in Dallas and San Francisco failed because there wasn't enough demand, the president of McDonald's US said. The non-meaty burger was tested at hundreds of restaurants in California and Texas in 2022. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe McPlant is unlikely to return to McDonald's menus in the US anytime soon.

Persons: —, Joe Erlinger, Erlinger Organizations: Service, Food Forum, Bloomberg, Business Locations: Dallas, San Francisco, California, Texas

☆ Outrage over an $18 Big Mac sparked a consumer revolt that finally got companies to listen
▼ + stars: | 2024-06-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New CNN —Pop quiz: How much does a Big Mac, fries and a fountain beverage – also known as a Big Mac combo meal – cost? In a recent letter, Joe Erlinger, president of McDonald’s USA, said $18 for a Big Mac combo was the “exception” and not the norm across all 13,700 restaurants in the country. The thing is: It doesn’t really matter that virtually no one is paying anything close to $18 for a Big Mac combo. “The average price of a Big Mac in the US was $4.39 in 2019,” Erlinger said in his recent letter. Behold: Price cuts and value menusI’d be willing to bet Erlinger was made aware of the viral $18 Big Mac combo post not long after it took off.

Persons: It’s, Joe Erlinger, Erlinger, it’s, They’re, ” Erlinger, aren’t, haven’t, Price, Christopher Kempczinski, they’ve, Ian Borden, they’re Organizations: CNN, McDonald’s, Mac, Consumer, Walgreens, Walmart, Wendy’s Locations: Connecticut, McDonald’s USA, Amazon

☆ McDonald’s releases a new $5 value meal to combat inflation
▼ + stars: | 2024-06-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales and lure back customers who have cut back. Beginning June 25, McDonald’s US locations are selling a “$5 Meal Deal” for a limited time. Word of McDonald’s newest value meal was released last month in the Wall Street Journal, prompting fast food rivals to get a jumpstart on offering similar deals and attract cost-conscious eaters. Burger King, Wendy’s and even Starbucks have rolled out meal deals in recent weeks. The arrival of the McDonald’s meal deal comes at a time when the company is battling the perception that it has become too expensive.

Persons: New York CNN — McDonald’s, ”, Joe Erlinger, Burger, Erlinger, McDonald’s, “, they’re, John Palmaccio Organizations: New, New York CNN, McDonald’s, Street, Mac, ”, Advertising Fund Locations: New York, Memphis, Columbus , Ohio

☆ Fast-food customers are shifting to casual-dining chains, Darden Restaurants CEO says
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Casual-dining chains are gaining customers who have grown frustrated with higher fast-food prices, Darden Restaurants CEO Rick Cardenas said on Thursday. Chili's rolled out an ad campaign that calls out the Big Mac and other fast-food burgers for their prices. Dine Brands CEO John Peyton told CNBC in May that Applebee's has been leaning into deals to win over fast-food diners. The overall consumer price index rose 3.3% in that period. In particular, McDonald's has faced backlash from customers, social media users and even House Republicans for its higher prices.

Persons: Rick Cardenas, Darden, hasn't, Brinker, Chili's, John Peyton, Applebee's, Cardenas, McDonald's, Joe Erlinger Organizations: Darden, Brinker International, Dine Brands, CNBC, of Labor, Republicans Locations: U.S

☆ 3 risks to global economic growth
▼ + stars: | 2024-06-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The World Bank on Tuesday raised its 2024 outlook for global economic growth to hold steady at 2.6%, an increase from its previous projection of 2.4% growth. “Four years after the upheavals caused by the pandemic, conflicts, inflation, and monetary tightening, it appears that global economic growth is steadying,” Indermit Gill, the World Bank’s chief economist, said in a release accompanying the report. Prospects for the world’s poorest economies are even more worrisome.”Here are three risks the World Bank sees. The World Bank said that spillover risk from the Russia-Ukraine war and Israel-Hamas war could curb global growth by pushing up oil prices and shipping costs. Trade tensions are already brewing between some of the world’s biggest global economic engines.

Persons: ” Indermit Gill, Jerome Powell, ”, Ayhan Kose, Danielle Wiener, Bronner, Joe Erlinger, aren’t, TikTok, John S, James L, Donald Trump, Joe Biden’s, Biden Organizations: CNN Business, Bell, New York CNN, Bank, World Bank, European Central Bank and Bank of Canada, US Federal Reserve, European Commission, EU, Bureau of Labor Statistics, McDonald’s, Pew Research Center, Knight Foundation, TikTok Locations: New York, Russia, Ukraine, Israel, India, Mexico, United States, France, United Kingdom, China, Beijing

☆ Even with food prices flattening out, the cost of dining out is still going up
▼ + stars: | 2024-06-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. Grocery prices rose 1% in the 12 months through May. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. In February, overall food prices remained flat for the first time since April 2023.

Persons: Joe Erlinger, Justin Sullivan, Rice, Milk Organizations: New, New York CNN, Bureau of Labor Statistics, McDonald’s, KFC, Starbucks Locations: New York, Burger King, Ukraine, Texas

☆ The US has a rich drag history. Here’s why the art form will likely outlast attempts to restrict it
▼ + stars: | 2024-06-09 | by ( Scottie Andrew | ) edition.cnn.com time to read: +16 min

Most of those efforts failed, but they have fueled harmful rhetoric around drag performers and the art form itself. Barbara Alper/Getty ImagesDrag has become increasingly visible in recent years through mainstream shows like “RuPaul’s Drag Race” and popular public events such as drag brunches, drag bingo and drag queen story hours, in which drag performers read children’s books to young audiences, often at libraries. Pickle reads from a book during the Drag Queen Story Hour program at a Los Angeles library in 2019. These lawmakers falsely claim that drag performers “groom” or sexualize children, of which there is also no evidence. It’s why Alaska Thunderf**k, the blonde bouffanted winner of the second season of “RuPaul’s Drag Race All Stars,” first got into drag – to make art that wasn’t bound by rules.

Persons: Anderson Cooper, twirling, Madonna’s, Papa Don’t, ”, “, Meatball, George Santos, Mo B, Dick, It’s, Joe E, Jeffreys, Barbara Alper, ” Jeffreys, ’, Larry La Fountain, Stokes, Ann Arbor, von Miramar, you’ve, William Dorsey Swann, Swann, Channing Gerard Joseph, Nino Testa, ” Testa, it’s, ” Julian Eltinge, pansy, weren’t, Joan Jett Blakk, Adam Turner, Blakk, —, ” Blakk, I’m, Testa, Devin Antheus, Harry James Hanson, Hanson, Marsha P, Johnson, Sylvia Rivera, ” Antheus, Esther Newton, impersonators, ” Newton, RuPaul Charles, who’d, Monica Beverly Hillz, Kylie Sonique, RuPaul, Sasha Colby, Santiago Felipe, David McNew, Antheus, aren’t, who’ve, we’ll Organizations: CNN, New York University, University of Michigan, New, Princeton University, Texas Christian University, Police, Queens, San Francisco, Stonewall, “, Guardian, Broadway, Movement Advancement Locations: Florida, Ann, “, Harlem, Washington, America, Fort Worth, New York, San Francisco, Tennessee, Montana, Los Angeles, It’s, Alaska

☆ A Texas HIFI couple made $200,000 last year. Their budget for vacations and restaurants keeps shrinking despite 'making more money than ever.'
▼ + stars: | 2024-06-05 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

But with the rising cost of living, Joe is apprehensive about the future. His experience echoes that of many HIFIs, a group of Americans who are defined as high income, financially insecure. Joe doesn't feel wealthy, despite a six-figure incomeRight before the pandemic, Joe estimates he and his wife made about $150,000 together. And, despite his household income, Joe doesn't feel wealthy. He doesn't feel like he's saved enough in his 401(k), and he worries his current spending will hurt his future.

Persons: —, Joe doesn't, Joe, we're, Zers, Gen Zers, Debra Kaplan, Kaplan, they're, We're Organizations: Service, Business, BI Locations: Austin

The president of McDonald’s USA, Joe Erlinger, pushed back on “inaccurate” reports this week that said the chain had more than doubled its prices on some items over the last decade. But his retort wasn’t exactly reassuring: The average price of a Big Mac is up 21 percent from 2019. Erlinger’s rebuttal underlines the heat that some companies are facing as the news media, politicians and consumers focus on steadily rising prices. Whether persistent price increases reflect price gouging, or simply companies’ own rising costs, is a matter of fierce debate. Either way, one thing is clear: Consumers are becoming fed up.

Persons: Joe Erlinger, McDonald’s, Chris Kempczinski Organizations: McDonald’s, Starbucks, Target, Yum Brands, KFC, Consumer Locations: McDonald’s USA, Pizza

☆ Big oil shareholders could get a lot richer
▼ + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.

Persons: Stewart Glickman, ”, “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, “, Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, “, McDonald’s, America, Mac, ” Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast

☆ McDonald’s President speaks out on inflation and pricing
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcDonald’s President speaks out on inflation and pricingCNBC’s Kate Rogers on McDonald’s U.S. President Joe Erlinger’s open letter regarding inflation and the burger chain’s price increases over the years.

Persons: Kate Rogers, Joe Erlinger’s Organizations: McDonald’s U.S

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