Fast food companies look to put the value back in value meal

The industry's prices have increased at a higher rate than grocery bills and gas prices over the last several years, Axios' Han NicholsBurger King is poised to debut a $5 value meal that includes a choice of three sandwiches plus nuggets, fries and a drink, BloombergMcDonald's announced its own plans for a similar $5 value meal.

"This is likely to be a summer of value, or maybe a year+ of value, to draw more price-sensitive customers back to fast food," Morgan Stanley analyst Brian Harbour wrote Tuesday in a research note. "Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's April 30 earnings call.Price increases and reduced savings among low-income consumers have curbed sales — and the second quarter is expected to be worse than the first, Harbour predicts.

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