In this articleMCDFollow your favorite stocksCREATE FREE ACCOUNTMcDonald’s Meal Deal photographed in Washington, D.C., on Aug. 26, 2024.Scott Suchman | The Washington Post | Getty ImagesMcDonald’s on Tuesday announced that it is expanding its value offerings in a bid to reach price-conscious diners.Starting Monday, the fast-food giant is bringing back its Extra Value Meals, which were last promoted before the Covid-19 pandemic. Customers will save 15% on the combo meals compared with buying the entree, fries and a drink separately, the company said.Tune in now: McDonald’s CEO Chris Kempczinski joins CNBC’s “Squawk Box” to discuss the fast-food giant’s expanded value menu. Watch in real time on CNBC+ or the CNBC Pro stream.For more than a year, McDonald’s and its rivals have been relying on discounts and deals to lure customers back to their restaurants. Traffic to fast-food chains has been shrinking, fueled by a pullback in spending by low-income consumers. Last summer, McDonald’s rolled out its $5 value meal and extended the promotion past its initial run. It later added a buy one, get one for $1 deal to its menu as well.The eight combo meals stretch across the McDonald’s menu and include a Sausage McMuffin with Egg; Sausage Egg and Cheese McGriddle; Egg McMuffin; Bacon, Egg and Cheese Biscuit; Big Mac; 10-piece Chicken McNuggets; any Quarter Pounder burger; and any McCrispy Sandwich.To promote the expansion of its value menu, McDonald’s will sell a Sausage McMuffin with Egg with a hash brown and a small coffee for $5, and a Big Mac with medium fries and a medium soft drink for $8 for a limited time.”McDonald’s USA is laser-focused on delivering value and affordability for our customers, and I’m incredibly proud of how our franchisees and teams continue to step up to make it a reality,” McDonald’s U.S. President Joe Erlinger said in a statement Tuesday.On McDonald’s latest earnings conference call in early August, CEO Chris Kempczinski again underlined the fast-food sector’s reliance on visits from low-income consumers.”Reengaging the low-income consumer is critical, as they typically visit our restaurants more frequently than middle- and high-income consumers,” Kempczinski said.McDonald’s has more deals planned for later this year, too. Starting in November, the chain will offer its Sausage, Egg and Cheese McGriddles for $5 and 10-piece Chicken McNuggets meals for $8. …
