Coca-Cola Just Agreed With Pepsi and McDonald's About the Economy. Here's What It Could Mean for Investors.
Last month, fast-food giant McDonald's (NYSE: MCD) started combating slumping sales with the launch of a $5 value meal. And the plan appears to be working.
For context, in the first quarter of 2024, same-store sales for McDonald's were up less than 2% year over year. But the company had raised prices, which helped to boost the nominal sales figures. In contrast, management noted declining traffic across the entire quick-service restaurant space.
People are looking for value, according to McDonald's, which is why it came out with its limited-time $5 meal last month. But 93% of the company's restaurant locations just voted to keep the bargain offer going, according to CNBC.
Source Fool.com