Wendy's follows McDonald's with budget-friendly combo
Wendy's rolled out a $3 breakfast combo for inflation-weary consumers
Bolvin Wealth Management Group President Gina Bolvin discusses the move in commodities, expected inflation data, the housing industry and her outlook for consumers.
Wendy's is following McDonald's lead in offering a lower-priced combo to lure back inflation-weary consumers, as fast-food chains see sales slip due to more people eating at home to save money.
On Tuesday, Wendy's rolled out a $3 breakfast combo that includes a small order of seasoned potatoes with the choice of either a Bacon, Egg & Cheese English Muffin or a Sausage, Egg & Cheese English Muffin at participating locations.
Wendy's English muffin sandwich and seasoned potatoes. (Wendy's / Fox News)
The offer is available at participating locations for a limited time. Wendy's did not immediately respond to a FOX Business inquiry about how long the deal will last.
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Wendy's stock was down slightly by 1.16% on Tuesday following the news, to a share price of $17.88. The stock is down 21% from a year ago.
Wendy's on Tuesday introduced a $3 breakfast deal for a limited time, becoming the latest fast-food chain to offer a budget-friendly option as high inflation weighs on consumers. (Kena Betancur/VIEWpress / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WEN | THE WENDY'S CO. | 16.90 | +0.07 | +0.42% |
Earlier this month, Bloomberg first reported that McDonald's will be offering a $5 meal deal in June that will be available for roughly a month. The budget-friendly combo will include the choice of a McDouble or a McChicken, along with four chicken nuggets, fries and a drink, a source told CNBC.
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The discount combos come as global restaurant chains such as McDonald's and Starbucks have seen lower-income customers opting to eat more meals at home amid a cost-of-living crisis, forcing the companies to offer steeper promotions to attract them to their outlets.
A McDonald's on Oct. 30, 2023, in Austin, Texas. (Brandon Bell / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 295.96 | -0.57 | -0.19% |
McDonald's, which has a higher exposure to the lower-income cohort, saw its global sales growth slowing for the fourth straight quarter.
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McDonald's stock is down 8% over the past year, with its share price hovering around $266 Tuesday afternoon.