It’s no secret that fast-food chains like McDonald’s Corporation (ticker: MCD) and Burger King (QSR) have fallen on hard times as consumers seek healthier options, not to mention increasing competition from restaurants like Shake Shack ( SHAK). But what will it take for MCD to keep its share of the market in a down year?
Its latest move is a menu update for one of its signature items: the Big Mac. For a limited time early next year, the Grand Mac and Mac Jr. will join the iconic sandwich, according to a company statement, as larger and smaller iterations of the Big Mac, respectively.
The Grand Mac will have a one-third pound of beef, compared to the Big Mac’s fifth a pound of beef, notes Fortune. The smaller alternative, the Mac Jr., has just one patty and doesn’t have a middle bun.
It tested the burgers in Central Ohio and Dallas/Fort Worth, and consumers in Florida and the Pittsburgh region will see the items earlier than the rest of the U.S., starting in the middle of this month.
With a market capitalization of $95 billion, McDonald’s is the biggest player in the fast-food space, although its faced some hard times as of late. After trading at more than $130 in April, the company has lost more than $10 billion in value and has seen its stock stumble to nearly $110 per share. For the year, McDonald’s stock is down 4.9 percent, while QSR is up nearly 19 percent. Another major player, Wendy’s Co. ( WEN), is essentially flat for the year.
The company posted its third-quarter earnings Oct. 21. Its U.S. established store sales in the third quarter met analysts’ expectations, ticking up 1.3 percent, reports the Associated Press. Its shares increased 4 percent pre-market open that day. However, Fortune points out the sales growth was slower than in earlier quarters.
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McDonald’s Corporation (MCD) Gives the Big Mac an Upgrade originally appeared on usnews.com
