McDonald’s (MCD) has come out with an update to its burger lineup which will affect the Big Mac, McDoubleburger, Cheeseburger, Double Cheeseburger, and Hamburger.
Changes include softer bread, more melted cheese, adding white onions on the patties for a caramelized flavor, more Big Mac sauce, The company announced on Monday. The updated recipe is currently served on the West Coast in the following cities: Los Angeles, Seattle, Portland, San Francisco, Sacramento, Phoenix, Las Vegas, Salt Lake City, and Denver, among others. By early 2024, the changes will be available nationwide.
The change was first introduced in international markets, including Australia, Canada and Belgium, where McDonald’s said the new recipe had received “rave reviews”.
A McDonald’s executive said in the release: “We’ve found that small changes…
It seems that Americans still love McDonald’s menu staples.
In the most recent quarter, same-store sales in the United States rose 10.3%, above expectations of 7.62%. On a call with investors, There is still plenty of opportunity to grow market share with core menu items as it works towards a larger growth strategy, said CEO and President Chris Kempzynski. Arches Acceleration 2.0and its commitment to basic menu items such as burgers, chicken, and coffee.
McDonald’s “continues to increase our share of beef despite having a very strong presence in that already,” he said.
This reinvestment in burgers comes nearly two years after it got into the chicken sandwich wars, which Kempzinski said is doing very well for the global fast-food chain. “We are gaining market share in both chicken and beef,” he said during the call.
Compared to last year, McDonald’s shares are up more than 15%. Guggenheim Partners Director Gregory Francourt told Yahoo Finance that the company has a huge market share. “This is a company doing $50 billion in sales in an industry in an $800 or $900 billion industry.”
The reinvestment comes as rival Burger King (QSR) looks to grab a piece of that market share, with a $400 million overhaul dubbed Reclaim the Flame and reinvestment in its core menu item, the Whopper.
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Brooke DiPalma is a correspondent at Yahoo Finance. Follow her on Twitter at @BrookeDiPalma Or email her at [email protected].
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