McDonald’s Leans into Value — and Keeps Growing while Others Stall

With input from the Financial Times, the Washington Post, ABC News, Bloomberg, and Reuters.

While much of the restaurant world is cooling off, McDonald’s is squeezing more out of every visit by doubling down on deals.

The burger giant said global same-store sales rose 3.6% in the third quarter, with US comps up 2.4%, as customers spent a bit more each time they ordered — even if overall traffic stayed soft. Revenue edged up to $7.08 billion and profit to $2.28 billion, modest gains that nonetheless outpaced a sector where many diners are choosing the grocery aisle over the drive-thru.

The playbook is old-school and unapologetic: pile on value and keep it fresh. McDonald’s revived Extra Value Meals, pushed its budget McValue lineup, and brought back Snack Wraps at $2.99 — a runaway hit that drew in one out of five US customers in its first month. Chief executive Chris Kempczinski was blunt about why the strategy matters now. Lower-income visits are still down nearly double digits as rent, childcare and food prices chew up paychecks, and even higher-income guests are hunting for bargains. In his view, that “value mindset” isn’t going away soon; expect it to linger well into 2026.

There’s a bill for all those bargains. McDonald’s is subsidizing US franchisees on price cuts — about $15 million in September and another $75 million slated for the fourth quarter — plus roughly $40 million to market the Extra Value push. That investment appears to be buying relevance at a time when fast-casual rivals are trimming forecasts and younger diners are pulling back.

Taco Bell has held serve with a slate of sub-$5 items; McDonald’s is meeting the moment the same way, with sharp promotions and familiar comfort food at prices that feel safe in a jittery economy.