McDonald’s, KFC and others are bringing back value meals

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why popular fast food chains are bringing back value meals.

Transcript

00:00 I'm Conway Gittins reporting from the New York Stock Exchange.

00:02 Here's what we're watching on the street today.

00:05 Investors were focused on two things Friday, inflation and earnings.

00:10 Dell Technologies dampened enthusiasm for tech stocks with hefty AI spending plans that

00:15 could hurt profits.

00:17 On the inflation front, the PCE index matched forecasts.

00:21 Wall Street awaits the closely watched jobs report due next week.

00:25 The stakes are high with policymakers looking to decide the timing of an interest rate cut

00:29 on June 12th.

00:31 In other news, if you're hungry and you're looking for a good deal, you're in luck.

00:36 Fast food companies are responding to customer complaints by bringing back value meals.

00:41 KFC is already advertising four discount deals.

00:44 The cheapest one at $4.99 includes two pieces of chicken, a biscuit and mashed potatoes.

00:49 In a press release, KFC said their goal is to prove, quote, "you don't have to sacrifice

00:54 quality or taste to save on food spending."

00:57 McDonald's also confirmed it is rolling out a $5 value meal this summer.

01:02 CEO Chris Kempcinski telling investors, quote, "it is imperative that we continue to keep

01:08 affordability at the forefront for our customers."

01:12 And its main rival even took notice.

01:14 Burger King is now reportedly rushing to get its $5 budget meal on the table before McDonald's.

01:20 Taco Bell and Wendy's already have budget menus.

01:23 While food price gains at the supermarket slowed last month, you're paying an average

01:28 of 4.1 percent more to eat out than a year ago.

01:32 And that'll do it for your daily briefing.

01:33 From the New York Stock Exchange, I'm Conway Gittens with the Street.

01:37 Thanks for watching.

01:38 [BLANK_AUDIO]

Category

Transcript

Recommended