March 11 (Reuters) - McDonald's will introduce menu items priced at $3 or less, along with $4 breakfast meal deals in the U.S., starting in April, the Wall Street Journal reported on Wednesday, as the burger chain looks to attract diners worn down by economic woes.
The company has been sharpening its focus on affordability as consumers become more price-conscious. Rivals such as Burger King are also intensifying efforts with more economical menu options.
Last year, McDonald's offered a 15% discount
on combo meals as well as introduced $5 and $8 specials.
McDonald's and other fast-food chains had raised menu prices following the pandemic to offset higher input costs.
The new offers - internally called "McValue 2.0" - include a McMuffin, a hash brown and coffee breakfast bundle, and low-priced items such as a sausage biscuit or four-piece Chicken McNuggets, the Journal reported, citing people familiar with the discussion and an internal company message.
McDonald's did not immediately respond to a Reuters request for comment.
In February, McDonald's beat Wall Street estimates for fourth-quarter global comparable sales and profit, as meal deals and strong marketing promotions pulled in budget-strapped U.S. diners.
McDonald's has been investing heavily in marketing cheaper meals and said last month its value push was helping bring back lower-income customers.
Its shares were down 1.5% in morning trading.
(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Vijay Kishore)
