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The bulk of McDonald\u2019s Corp. US restaurants will extend the burger chain\u2019s $5 meal deal in a bid to attract budget-strapped diners.<\/p>\n
About 93% of McDonald\u2019s locations have committed to selling the bundle past the initial four-week window that started June 25, according to a memo seen by Bloomberg News. The timetables will vary across the country, with some locations planning to make it available through August.<\/p>\n
Early performance indicates the meal deal \u201cis meeting the objective of driving guests back to our restaurants,\u201d McDonald\u2019s said in a message signed by Tariq Hassan, chief marketing officer, and\u00a0Myra Doria<\/a>, national field president. \u201cDriving guest counts ultimately propels our business and is the key to sustained growth,\u201d they added.\u00a0<\/p>\n The company\u2019s shares were little changed as of 9:47 a.m. in New York trading. Its shares have fallen about 13% this year.\u00a0<\/p>\n McDonald\u2019s is looking to bolster its \u201caffordability plans through the rest of year,\u201d according to the memo, including the potential to extend the current meal deal for an even longer period. It is also looking at extended hours of operation to capture demand during off-peak hours.<\/p>\n The burger chain is looking to lure in US consumers who have limited their spending as disposable incomes shrink. Many have cut back following the chain\u2019s price increases over the past few years.\u00a0<\/p>\n McDonald\u2019s is scheduled to report second-quarter earnings on July 29.<\/p>\n<\/div>\n<\/div>\n