Fast food deals were off the table. Now they’re roaring back
CNNNew York CNN — For years, restaurant executives had a confident message for investors: We’re raising prices, and customers don’t care. “We believe this represents a tipping point in the industry’s intensified push on value that we worry will extend beyond the promotion’s scheduled run as competitors look to protect share,” Cowen analyst Andrew Charles wrote in a note, referencing the McDonald’s deal. Burger King’s $5 meal will include a sandwich plus nuggets, fries and a drink, and the promotion will last for several months, Bloomberg reported. The move by McDonald’s “reminds us of McDonald’s 2018 experience when a national value menu was last the center of attention,” Charles added in his note. Burger King “want to avoid some of the deeper discounting” that took place in the past, said Josh Kobza, CEO of Burger King parent company Restaurant Brands International, during an April analyst call.