Exterior of a Wendy’s fast food restaurant in Bloomsburg, Pennsylvania on May 19, 2024.
Paul Weaver | SOPA Images | Getty Images
wendy’s Starting Monday, restaurant chains will offer $3 breakfast combination meals as they look for new ways to boost sales as consumers avoid eating out.
The deal includes a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast food chain said.
The promotion will take place as Wendy’s rival mcdonalds is planning similar but limited value food options to increase traffic. Last week, CNBC reported that the fast food giant’s $5 meal menu will be available in stores for one month only, starting June 25th.
Consumers are becoming more selective about where they spend their money, and some restaurants are starting to see the long-anticipated consumer withdrawal. Other fast-casual chains have also achieved strong sales despite higher prices.
As inflation persists, businesses that serve low-income consumers face special challenges in attracting customers.
Wendy’s reported earlier this month that first-quarter sales rose slightly by 1.1% to $534.8 million. Global same-restaurant sales rose just 0.9% in the quarter.
Last month, McDonald’s reported first-quarter profits that were lower than expected. The price increases have helped the chain’s bottom line, but have scared off some low-income customers. Chief Financial Officer Ian Bowden said the company was adopting a “fight-for-the-street mentality” to win over value-conscious customers.
Owner of KFC, Pizza Hut and Taco Bell yum brand released a disappointing earnings report earlier this month as sales fell short of Wall Street expectations. The company cited declines in same-store sales at KFC and Pizza Hut.
