McDonald's, Burger King and Taco Bell are among the fast-food chains with $5 value meals this summer.
A slew of fast-food chains, from McDonald's to Taco Bell, have $5 meal deals to try to win back customers.
"It's the war for the less affluent customer," said Robert Byrne, senior director of consumer research for Technomic, a restaurant market research firm."The sense among investors is that the second quarter is probably going to be one to forget — you're going to see a lot of large chains probably miss consensus ," KeyBanc analyst Eric Gonzalez told CNBC.
"The value menus rolled out toward the end of the quarter. There's just a fear that it's not going to get any better, and it's going to be a race to the bottom," Gonzalez said. At McDonald's, franchisees banded together to form the National Owners Association in 2018, rebelling against the burger giant's unpopular discounts and plans for store renovations. Since then, the chain's operators have fought back more against management's plans.on Tuesday's earnings call that the beverage giant has seen weaker away-from-home sales in the U.S. as quick-service restaurants struggle.
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