NEW YORK – McDonald’s is introducing some higher-priced options to its Dollar Menu and renaming it “Dollar Menu and More” to spur sales in the U.S.
The company announced the changes to its popular low-priced menu on Monday, the same day that the world’s biggest burger chain reported that its third-quarter profit rose 5 percent as it benefited from a Monopoly promotion in the U.S. and strength in the U.K. and Russia.
The company plans to introduce some $2 and $5 options on the Dollar Menu, which currently features items like the Grilled Onion Cheddar Burger and a McChicken sandwich for a buck. The new menu will include items including $2 burgers and a $5 20-piece chicken McNuggets.
The menu tweaks come as McDonald’s tries to regain its footing. After outperforming rivals for years, McDonald’s has struggled recently as it faces heightened competition, shifting eating habits and tough economic conditions around the world. Late last year, its monthly sales at stores open at least a year fell for the first time in nearly a decade.
For the three months that ended Sept. 30, net income rose to $1.52 billion, or $1.52 per share. That compared with $1.46 billion, or $1.43 per share, last year. Analysts expected $1.51 per share, according to FactSet.
Revenue rose 2 percent to $7.32 billion from $7.15 billion last year. Analysts expected $7.33 billion.