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McDonald's will extend its $5 value meal beyond its initial four-week window in most of its U.S. markets, as the fast food giant says the offer is driving traffic back to restaurants. The memo said the majority of locations will extend through August, or plan to vote on whether to do so. The $5 value meal rolled out on menu boards beginning June 25 and was initially set to last roughly a month. The move comes as restaurants offer deals to boost sagging traffic, as consumers — particularly lower-income diners — balk at higher prices after years of inflation-fueled hikes. Coca-Cola kicked in marketing funds to make the initial value offer more appealing for franchisees, CNBC reported in May.
Persons: Myra Doria, Tariq Hassan, Burger, Taco Bell, McDonald's Organizations: CNBC, Bloomberg Locations: San Pablo , California, U.S
I tried the $5 Your Way meal from Burger King, the $5 Meal Deal from McDonald's, and the $5 Biggie Bag from Wendy's. I tried $5 meals from Burger King, McDonald's, and Wendy's. Gabbi Shaw/Business InsiderBoth Burger King and McDonald's released their $5 meal deals in June. Wendy's, meanwhile, has been offering the Biggie Bag for five years, reported. My Burger King meal was $5.81; my McDonald's meal was $5.54; and my Wendy's meal was $5.43.
Persons: Burger King, Biggie, Gabbi Shaw, McDonald's, Wendy's, Locations: Burger, McDonald's, Long, , New York
With digital price tags, big retailers, in theory, could do the same. Federal Reserve Chair Jerome Powell has said that type of dynamic pricing is "incredibly important in our economy." AdvertisementSome experts agree, saying dynamic pricing practices could benefit consumers who are able to gain some understanding of the system and shop around. After customers complained online that those changes would surge prices, a spokesperson announced the company did not intend to implement surge pricing. How does dynamic pricing impact you?
Persons: There's, Uber, it's, Greg Cathey, Elizabeth Pancotti, Pancotti, Jerome Powell, Powell, John Zhang, Wendy's, Sen, Sherrod Brown, Zhang, Organizations: Service, Walmart, Business, Roosevelt Institute, Federal, Wharton School, University of Pennsylvania, Democratic, SNAP
A "good" price for something today may have seemed outlandish five years ago. A "good" price for something today may have seemed outlandish five years ago, and it's understandable to wonder whether today's price is just as fleeting. The whole idea of what's a good price for a 12-pack of carbonated soft drinks has changed dramatically over the past few years." Plenty of companies can move their prices, whether by using dynamic prices or downright raising prices, because they're the only game in town. The answer to getting accustomed to high prices is basically to forget what those numbers were in 2019.
Persons: Wendy's, they're, There's, Carly Fink, , Fink, they'd, Jon Hauptman, Hauptman, Timothy Webb, University of Delaware who's, it's, Ravi Dhar, Taylor Swift, John Zhang, Webb, Dhar, Emily Stewart Organizations: Walmart, Price, University of Delaware, Center, Yale School of Management, Starbucks, Wharton, Business
Pricing is really weird lately
  + stars: | 2024-07-10 | by ( Jordan Parker Erb | )   time to read: +7 min
In today's big story, we're looking at why pricing is so weird these days . More recently, Walmart introduced digital price tags, which some people said could be used for variable pricing. The constantly changing costs have consumers feeling a sense of price fatigue, Emily writes. Emily writes that most economists agree that government-mandated price-fixing isn't the way to go about it. So, as Emily writes, you can't fault anyone for feeling a certain sense of doom and gloom about the economy.
Persons: , Alyssa Powell, Emily Stewart, Emily, Michael Raines, Rebecca Zisser, Michael Arone, Steve Granitz, Elon Musk, Tyler Le, Larry Page, Biden, Keir Starmer, Rishi Sunak's, Jerome Powell, Jordan Parker Erb, Lisa Ryan, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Soviet Union, Business, Walmart, JPMorgan, Wall, Group, State, Navy, Spotify, Labour Party, Samsung Locations: Montana, Soviet, America, USA, Diego, Idaho, New York, London
The bacon Double Stack lacked condimentsThe bacon Double Stack had ketchup, mustard, pickle, and onion. Division-1 winner: The bacon Double Stack triumphs for having baconThe bacon Double Stack had a decent variety of toppings. I was excited to dig into the Big Bacon ClassicThe Big Bacon Classic had a lot of sauce. The Big Bacon Classic triple seemed to have too much meatThe Big Bacon Classic triple seemed like a lot of meat. AdvertisementDivision-5 winner: The Jr. bacon cheeseburger was the best of this large poolThe Jr. bacon cheeseburger was my favorite in this category.
Persons: , Bacon, pretzel cheeseburgers, I've, Lucien Formichella, underseasoned —, Dave Thomas, I'd, Wendy's, would've, cheeseburger, Baconator, mayo, Charlie, Charlie Brown, hadn't, jalapeños, Pretzel Bacon, Cheeseburger, Big Bacon Organizations: Service, Business, mayo, Taco Locations: Wendy's, mayo, cheddar
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
And at some Chipotle locations, customers filmed workers to try to make sure they didn't skimp on their burrito bowls. The three joined a growing list of consumer brands contending with customers' deep frustration over high prices — and wariness that prices will only rise more. Walmart, on the other hand, said the new price tags will cut a tedious task from store workers' to-do lists. They eliminate the need for store workers to swap out traditional paper tags. Shoppers at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024.
Persons: Wendy's, Jean, Pierre Dubé, David Chavern, Donald Trump, Joe Biden, Kevin Lamarque, hasn't, Dianna Campbell, she's, Campbell isn't, Biden, skimping, Sen, Bob Casey, Andrea Foote, Tricia Moriarty, it's, Jim Cramer, CNBC's, Brian Niccol, Chipotle, We've, Wells, Zachary Fadem, Brandon Bell, It's, Kirk Tanner, Yuki Iwamura, Cristina Rodrigues, Gabby Jones Organizations: Walmart, University of Chicago Booth School of Business, Consumers, U.S . Bureau of Labor Statistics, Consumer Brands Association, Procter, Gamble, Pew Research, Pew, Reuters Shrinkflation, Federal Reserve, Customers, Gatorade, PepsiCo, CNBC, Chipotle, New York, Mexican Grill, Getty, American Farm Bureau Federation, Bloomberg, University of Chicago Locations: U.S, Goffstown , New Hampshire, Manhattan, New York City, Mexican, Austin , Texas, Queens, New York, Europe, Secaucus , New Jersey, US
He needs to execute better," Jim Cramer stressed, referring to Starbucks CEO Laxman Narasimhan, during the Investing Club's June Monthly Meeting . Then in mid-June, Starbucks launched its limited-time "Pairings Menu," which includes a $5 coffee-and-croissant combo and a $6 coffee-and-breakfast-sandwich deal. Order up Jefferies' Barish also raised questions about Starbucks' menu innovations, arguing its updated drink options are not driving sales as much as hoped. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: it's, Jim Cramer, Laxman Narasimhan, Jim, Rachel Ruggeri, Burger King, Jefferies, Andy Barish, Barish, TD Cowen, Cowen, Edward Lewis, Lewis, they're, Narasimhan, Ruggeri, Berry, Long, We've, Jim Cramer's, Spencer Platt Organizations: Starbucks, Taco Bell, Street, CNBC, Getty Locations: North America, Israel, Gaza, China, Burger, Manhattan, New York City
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTikTok is rolling out a tool that will allow brands to use AI-generated avatars of real people in ads on the platform. In a demonstration in the announcement post, the company showcased a reel of AI-generated avatars built from apparent TikTok creators who explain why they'll benefit from an AI tool that uses their likenesses. "If this is something that caught on, I'd be very scared for the future of my business," micro influencer Kristen Bousquet told Business Insider in May. TikTok isn't the only Big Tech platform experimenting with AI-generated avatars.
Persons: , SelfMade, Kristen Bousquet, TikTok, creatives —, Meta, Tom Brady, Kendall Jenner, YouTuber Organizations: Service, Business, NBA, Big Tech, Facebook, Microsoft, Apple
Read previewAs fast-food prices continue to soar, Americans are looking for ways to get more bang for their buck. Like fast-food prices, grocery prices soared during the pandemic. But grocery prices are now largely back to pre-pandemic levels, while inflation at limited-service restaurants still remains elevated. When fast-food prices rise at a faster rate than grocery prices, consumers notice. He attributed this to the price increases at fast-food chains.
Persons: , Chad Frye, Frye, Thomas Valentine, Jordan Sanchez, he's, Lawrence Milford's, Laxman Narasimhan, McDonald's, Danilo Gargiulo, Bernstein, John Furner, footfall —, Michael Siluk, Martin Jennings, Jennings, Brooks Ferrante, Ben Heyworth, it's Organizations: Service, Business, Walmart, Getty Locations: California, Arizona, Florida, Puerto Rican
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Restaurants raised prices to offset the new wageCalifornia raised its minimum wage for workers at limited-service restaurants to $20 an hour on April 1. To offset their higher labor costs, restaurants have raised prices, turned to technology and automation like order kiosks, and considered reducing their opening hours. In-N-Out told KTVU that it had raised prices "incrementally" on April 1. Californian residents are divided: Some acknowledge that fast food is a tough gig and support the new minimum wage, while others say it will push prices up too much.
Persons: , Burger King, Hottovy, Jack Organizations: Service, Golden State, Business Locations: Burger, California, Golden,, McDonald's
Dividend-paying companies might feel compelled to cut their dividends if they're grappling with a lot of debt, as higher rates raise the cost of leverage for companies. He added dividend cuts can also serve as a "clearing event" for a stock, ironically spurring a period of outperformance. See below for a few of the potential contenders for dividend cuts. The stock is down more than 15% in 2024, and it offers a dividend yield of nearly 5%. Shares are up about 17% in 2024, and the stock has a dividend yield of 3.5%.
Persons: Jerome Powell, Chris Senyek, Wolfe, Matthew Boss, Vail, Goldman Sachs, Christine Cho, Nordstrom Organizations: Wolfe Research, Federal, Vail Resorts, JPMorgan, Vail, Nordstrom, Whirlpool, Owl Locations: Wednesday's
But only a few restaurant brands that can hold on to their pricing will be able to come out on top, the firm said. Six popular stocks in the group were each given a buy rating: Chipotle , Domino's Pizza , Restaurant Brands International , Starbucks , Sweetgreen and Shake Shack . Cho placed a neutral rating on McDonald's , Yum Brands and Wingstop and a sell on Jack in the Box and Wendy's . The bank is also bullish on Restaurant Brands, owner of Burger King and Popeye's, which Cho noted is undergoing a business transformation. Another restaurant Goldman is bullish on is Domino's Pizza, which Cho believes has numerous catalysts that could lift the stock, including a newly revamped rewards program and an Uber Eats expansion.
Persons: Goldman Sachs, Christine Cho, Cho, Goldman, Chipotle, Wednesday's, Burger Organizations: Brands, Starbucks, Yum Brands, Restaurant Brands
Read previewDiners are cutting back on meals out during the week and saving the money for the weekends instead, a restaurant executive says. Jim Holthouser, CEO of GoTo Foods, formerly known as Focus Brands, said that some diners had been limiting their spending. GoTo Foods owns Cinnabon, Auntie Anne's, Jamba, Moe's Southwest Grill, McAlister's Deli, Schlotzsky's, and Carvel. The data only compares restaurant spending in 2019 and 2023, and doesn't show how this has changed in recent months. Estimated retail sales from GoTo Foods' licensing partners totaled about $1.5 billion in 2023, or just over a quarter of total sales across its brand portfolio.
Persons: , Jim Holthouser, Auntie Anne's, Carvel, Holthouser, Wendy's, GoTo, Anne's pretzels Organizations: Service, GoTo Foods, Focus Brands, Business, Subway
I tried the cheapest cheeseburgers at McDonald's, Burger King, and Wendy's. I thought Burger King's cheeseburger was the most flavorful and best value. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe price of the fast-food burger has risen over the years. Average fast-food menu prices have risen between 39% and 100% since 2014, and McDonald's prices have doubled in those 10 years, according to a May report by FinanceBuzz.
Persons: Burger King, Burger, cheeseburger, Organizations: Service, Business Locations: McDonald's, Burger
There is a reason the value meals are only returning on a limited basis, says Shubhranshu Singh, associate professor of marketing at the Johns Hopkins Carey Business School, who has studied the economics of fast-food value meals. "They want customers to get the value meal and then buy more, the idea isn't that the consumer will buy a value meal and walk away," Singh said. "If consumers do that, selling that value meal will be such a bad idea." "How can they serve $5 value meals with that minimum wage and still make a profit? But he added, "We are not upset about the value menu, but I don't speak for those that have higher cost pressures than I do."
Persons: Shubhranshu Singh, Johns, it's, Singh, Burger, Scott Rodrick, CNBC it's, Nick Snowberger, Snowberger, McDonald's franchisee's Organizations: Johns Hopkins Carey Business School, CNBC Locations: Burger, McDonald's, California, Northern California, Montana and Wyoming
KFC recently introduced a value menu with meals starting at $4.99. But it’s been a long time since they used discounted meals as a strategy to drive traffic, noted Peter Saleh, restaurant analyst at BTIG. KFC launched its value menu earlier that month. A Burger King spokesperson confirmed to CNN that it plans to offer a $5 meal, without sharing more details. And more deals don’t mean that menu prices are dropping, or even staying the same.
Persons: Burger King, Taco Bell, Jack, Wendy’s, it’s, Peter Saleh, haven’t, , we’ve, ” Price, ” Saleh, Chris Kempczinski, , McDonald’s, Burger, Paul Weaver, Kempczinski, NOA, ” Cowen, Andrew Charles, Eva Marie Uzcategui, McDonald’s “, ” Charles, David Henkes, Josh Kobza, Henkes, BTIG’s Saleh Organizations: New, New York CNN, KFC, BTIG, Street Journal, National Owners Association, Bloomberg, Getty, CNN, Restaurant Brands Locations: New York, Technomic, Burger King
I tried the biggest burgers at McDonald's, Wendy's, Burger King, In-N-Out, and Shake Shack. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe biggest burgers at fast-food chains are usually more expensive, but how do they rank in terms of taste and value? This story is available exclusively to Business Insider subscribers.
Persons: Burger King, Burger, Triple Whopper, , Price Organizations: Triple, Service, Business Locations: Burger
Read previewBurger King is launching its own $5 meal just two weeks after reports of McDonald's introducing a similar deal. Burger King plans to launch the set, which will include a sandwich, chicken nuggets, fries and a drink, before McDonald's, according to a document seen by Bloomberg. It's unclear exactly when Burger King will launch its promotion. Earlier this week, Wendy's also announced its version of a value meal — a $3 set consisting of a breakfast sandwich and a small batch of seasoned potatoes. "Our priority is to continue enhancing our value proposition through our quality food and beverages at attractive price points," Kobza said.
Persons: , Burger King, Burger, Tom Curtis, Wendy's, Joshua Kobza, Kobza Organizations: Service, Bloomberg, Business, Burger King US, Street, Burger King, Restaurant Brands Locations: Canada
Bank of America reiterates Nvidia as buy Bank of America raised its price target on the stock to $1,320 per share from $1,100 following earnings. Deutsche Bank initiates Freshpet a buy Deutsche said it sees "multiple structural tailwinds" for shares of the pet food and health company. Deutsche Bank initiates BellRing Brands as buy Deutsche said it sees a long runway for growth for the food company. " Deutsche Bank initiates Legend Biotech as buy Deutsche said it's bullish on the biotech company's multiple myeloma drug Carvykti. Bank of America reiterates Super Micro Computer as buy Bank of America said Nvidia's earnings report on Wednesday bode well for companies like Super Micro.
Persons: Bernstein, Ford, Morgan Stanley downgrades NetEase, Morgan Stanley, Evercore, BRBR, Wedbush, Jefferies, GDRX, Oppenheimer, Armour, Kevin, Dell, Chubb, Stephens, FHN, Tesla, Argus, it's bullish, bode Organizations: " Bank of America, Nvidia, Bank of America, Deutsche Bank, Deutsche, BellRing Brands, JPMorgan, Hasbro, RBC, Norfolk Southern, NSC, GE Vernova, GE, UBS, Eastman Chemical, Eastman, SAP, underperform Bank of America, Berkshire Hathaway's, of America, Rockstar Games, NextEra Energy Partners, Argus, Wynn, Biotech, Computer Locations: U.S, China, Berkshire, Macau, Las Vegas, 2H24
Wendy's is introducing a new $3 breakfast combo meal. Diners have been increasingly frustrated with high fast food prices since the pandemic. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWendy's has launched a new $3 breakfast combo meal, as high fast-food prices have started to push customers away. Customers can pair a small portion of seasoned potatoes with a choice between two breakfast muffins — a bacon, egg, and cheese English muffin or a sausage, egg, and cheese English muffin, the company said.
Persons: , Wendy's Organizations: Service
An exterior view of a Wendy's fast-food restaurant in Bloomsburg, Pennsylvania, on May 19, 2024. Wendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25. Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million. Although higher prices have helped the chain's revenue, they have scared away some low-income customers.
Persons: Wendy's, McDonald's, Ian Borden Organizations: CNBC, Consumers, KFC, Taco Bell, Yum Brands Locations: Bloomsburg , Pennsylvania
McDonald's reportedly plans to launch a limited-time $5 meal. AdvertisementMcDonald's is looking to launch a $5 meal in the US in a move to bring back price-sensitive customers. CEO Chris Kempczinski said McDonald's has local value meals around the US, but no standard national offering like competitors do. A meal consisting of the same four items — a McChicken, fries, a drink, and four-piece chicken nuggets — costs $18.26 in downtown New York City. AdvertisementThe new bundle would be priced lower than a Happy Meal, which starts at $6.39 in downtown Manhattan.
Persons: McDonald's, , Ian Borden, they're, Chris Kempczinski, Gunther Plosch Organizations: Service, Bloomberg, Restaurant Business, Customers, downtown, Burger King, Restaurant Brands Locations: New York City, downtown San Francisco, Manhattan
McDonald’s is working to introduce a $5 value meal
  + stars: | 2024-05-10 | by ( Kate Rogers | )   time to read: +2 min
McDonald's is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The value meal was first reported by Bloomberg News. The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank of America. An initial proposal by McDonald's for the $5 value meal did not clear necessary hurdles, and additional details are now being discussed, according to a person familiar with the process.
Persons: McDonald's, Dave, Buster's, Chris Kempczinski, Kempczinski, Ian Borden, — CNBC's Amelia Lucas Organizations: CNBC, Bloomberg News, Bank of America, McDonald's, U.S Locations: U.S
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