McDonald’s introduces premium burgers to push premium credentials
McDonald’s has added ‘Sirloin Third Pound’ burgers to its menu in a bid to fashion a premium offering from its ogoing push to kickstart sluggish sales.
The new menu items are named the Steakhouse Third Pound, the Bacon & Cheese Third Pound, and the Lettuce & Tomato Third Pound. The company will charge $4.99 for these burgers while franchises are free to set their own prices.
The announcement comes as the chain competes with other premium burger establishments such as Shake Shack and Five Guys, with newly appointed CEO Steve Easterbrook leading the company’s brand transformation with local marketing efforts and fresh campaigns.
McDonald’s has poured millions into expanding its menu to try and attract younger customers and boost sales. Last month, it announced that it would begin testing all-day breakfast at select locations in the San Diego area.
The company’s revenue fell 2.4 per cent in 2014 to $27.44bn. US same-store sales fell 4 per cent in February.