McDonald's to Launch New Value Bundles After US Traffic Slips

McDonald's will roll out new value-oriented meal bundles in early 2026 after U.S. same-store sales fell 0.2% in the third quarter — the chain's first retreat since early 2025.

The Chicago-based burger giant is testing mix-and-match and fixed-price bundles at 1,900 U.S. restaurants in an eight-week trial that began recently, Chairman and CEO Chris Kempczinski told investors Wednesday. A sample bundle: a McChicken sandwich and small fries for $3.50.

But roughly 4,000 franchisees aren't waiting for the test data. They've already launched meal bundles of their own, Kempczinski said — a signal of how much pressure operators feel to move traffic right now.

"Customers should see a clear and compelling value proposition every time they consider McDonald's, whether they're looking for an affordable individual item, a complete meal or a digital offer in the mobile app," Kempczinski said during the conference call.

What does this change for operators?

The short answer: the value war moves from discount items to full meal architecture. McDonald's has spent more than two years tweaking U.S. value offerings to win back lower-income customers and compete with rivals like Taco Bell, which runs a menu of 10 items at $3 or less each.

The timeline tells the story:

• June 2024: McDonald's introduces the $5 Meal Deal.
• 2025: The company debuts the McValue menu and Extra Value Meals, promising a 15% discount versus buying items individually.
• April: The McValue menu gets revamped, adding 10 items at $3 or less.

Even so, adoption lagged. Franchisees own 95% of McDonald's U.S. restaurants, and Kempczinski said in August that only 60% of them carried the revamped McValue menu. That same month, McDonald's replaced its U.S. president.

Kempczinski was blunt about why prior efforts fell short: they didn't offer compelling deals at the bottom of the price ladder. "You need to have good entry-level value, particularly with the low-income consumer," he said.

How bad was the quarter?

The 0.2% same-store sales decline beat Wall Street's expectation of a 0.5% drop, but it still broke a positive streak. Traffic was the weak spot — U.S. foot traffic across the entire fast food sector fell 2.6% in the third quarter, according to Revenue Management Solutions, a restaurant industry consultant.

McDonald's responded mid-quarter by restoring some regional and national in-app deals and shifting marketing dollars toward value meals. That push drove U.S. same-store sales back into positive territory in September and October.

The bigger backdrop is economic. Fast food chains are losing customers as Americans absorb higher gas prices and a stubbornly high cost of living. Value isn't a promotion tactic anymore; it's the competitive floor.

The global picture softened the blow

Worldwide same-store sales rose 1.3% in the quarter. Strong performance in Germany and Australia offset weakness in France, where protests that began in September disrupted business.

The financial results were mixed against expectations:

• Revenue rose 1% to $7.16 billion, short of Wall Street's $7.28 billion forecast.
• Net income climbed 9% to $2.49 billion.
• Adjusted earnings of $3.57 per share beat the analyst consensus of $3.38.

Investors read the report as a net positive — shares jumped more than 5% in Wednesday morning trading.

The real test comes early next year, when the national bundle platform has to win over the franchisees who skipped the test and prove that entry-level pricing can reverse a traffic decline the whole sector is fighting.