McDonald’s (MCD) has released an update to its burger lineup that affects its Big Mac, McDouble burger, cheeseburger, double cheeseburger and hamburger.
Changes include a softer bun, more melted cheese, the addition of white onions to the patties for a caramelized flavor, and more Big Mac sauce. The company announced on Monday. The updated recipe is currently offered in the following cities on the West Coast: Los Angeles, Seattle, Portland, San Francisco, Sacramento, Phoenix, Las Vegas, Salt Lake City and Denver. By early 2024, the changes will be available nationwide.
The change was first introduced in international markets including Australia, Canada and Belgium, where McDonald’s said the new recipe had received “overwhelming reviews”.
“We found small changes…adjusting our grill settings for better sear added up to a big difference in making our burgers tastier than ever,” a McDonald’s executive said in the release.
Americans still seem to prefer McDonald’s core menu items.
Last quarter, US same-store sales rose 10.3%, beating expectations by 7.62%. In a call with investors, CEO and president Chris Kempczynski said there is still plenty of room to grow market share with its core menu items as it works toward its larger growth strategy. Accelerating Curves 2.0and its commitment to core menu items like burgers, chicken and coffee.
McDonald’s “already has a strong presence in beef, but continues to grow our share of it,” he said.
The reinvestment in its burgers comes nearly 2 years after it entered the chicken sandwich wars, where Kempczynski said it was outperforming the global fast-food chain. “We’re gaining market share in both chicken and beef,” he said on the call.
McDonald’s shares are up 15% year over year. Guggenheim Partners Director Gregory Frankart said Yahoo Finance has the largest market share. “This is a $50 billion company in an $800 or $900 billion business.”
The reinvestment comes as rival Burger King ( QSR ) looks to grab some market share, reinvesting in Reclaim the Flame and its flagship menu item, the Whopper.
—
Brooke DePalma is a Yahoo Finance reporter. Follow her on Twitter at @Brooke DePalma Or send an email to [email protected].
For latest earnings reports and analysis, earnings gossip and expectations and company earnings news, click here.
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app Apple Or Android
Follow Yahoo Finance Twitter, Facebook, Instagram, Flipboard, LinkedInAnd Network light
