New York (CNN) � Nearly all McDonald’s US locations will continue to sell the “� after people flocked to the promotion amid rising food prices.
Since its launch in June, the limited time offering is “resonating with our millions of customers,� and the company claimed the move was siphoning off business from its competition, according to an internal McDonald’s memo obtained by CNN. As a result, 93% of US locations will keep the deal on menus through August.
McDonald’s launched the �$5 Meal Deal� in late June intended to be for one month only. The meal includes a McDouble cheeseburger or a McChicken sandwich, small french fries, four-piece Chicken McNuggets and a small soft drink.
McDonald’s repeatedly talked about its propensity to raise menu prices from customers pulling back until the first quarter of this year, when it reported weaker-than-expected sales. But the jump in food prices was not confined to just McDonald’s, with other chains also . Diners are not when they do, causing fast food sales to slow and restaurant traffic to dip.
The is “meeting the objective of driving guests back to our restaurants� and is even prompting some people to buy full-priced items, resulting in a greater lift of sales, the memo said.
McDonald’s (), which will release earnings on July 29, said in the memo that it would consider “further extending� the $5 deal beyond August.
Specific financial data wasn’t revealed in the memo. Pacer.ai, a third-party analytics firm, said in a recent report that the deal boosted that proved “how well-received this special has been among McDonald’s fans.�
, Wendy’s, and Burger King have also added meal deals in recent weeks to boost their bottom lines.
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