McDonald's (MCD) is launching its new slate of value-centric offerings Tuesday, extending the fast food giant's push into the world of value that it started last year with its $5 Meal Deal.
The new "McValue" menu will extend that $5 deal—which includes a four-piece chicken McNuggets, a small fry, a small drink and a choice between two sandwiches—through the summer. The McValue promotion will also include the "buy one, add one for $1" program the chain announced in November, along with other limited time and regional promotions within the McDonald's app.
Under the "buy one, add one for $1" promotion, customers will be able to buy an item from a group of menu items like the sausage McMuffin, double cheeseburger, McChicken, and others and add another from the same group for $1.
Along with the deals on McDonald's food, the company also announced Tuesday that the rollout of the McValue menu is coming with a new marketing campaign with professional wrestler and actor John Cena, along with a wide range of promotions.
McDonald's said it is giving out "more than $3 million" worth of promotional offers from 16 different brands including premium subscriptions to Match Group's (MTCH) Tinder, a free month of YouTube TV, and free American Airlines (AAL) Wi-Fi, among others.
The fast food chain said over much of the last year that inflation had driven some Americans, especially lower-income consumers, away from spending on fast food like McDonald's as its sales declined. It launched the $5 promotion in response last summer, and said the program was successful enough that the chain's franchise partners voted to extend it through the winter, and again into 2025.
Separately on Tuesday, the fast food value push also extended to Taco Bell of Yum! Brands (YUM). The chain announced a new "cravings boxes" promotion priced at $5, $7, and $9. The promotion will feature a variety of Taco Bell's products like burritos, tacos, and cinnamon twists, and run from Jan. 16 through early June.
Shares of McDonald's were little changed Tuesday morning at around $293.
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