Realizing the success of Chick-fil-A and the chicken products of other fast food chains, McDonald’s (NYSE: MCD) has created the first full menu item in nearly half a decade. Starting May 5, McCrispy Strips will become a mainstay of its products.’
According to CNN, they are “all-white chicken tenders coated in crispy, golden-brown breading.” The product was dropped in 2020, but it is not clear why.
Alyssa Buetikofer, chief marketing and customer experience officer, explained why they were added: “The demand for chicken strips has been remarkable across the industry, so we knew we had to deliver something so crave-able that it was worth the wait. We took our time, listened to our fans, and created a product we knew they would crave.” They are also part of a menu that has faltered.
In mid-2024, McDonald’s CEO Chris Kempczinski admitted the chain’s sales had faltered because its food had become too expensive for many customers. The company introduced a mix of new items and price cuts.
In January, it launched a $5 Meal Deal with a McChicken or McDouble alternative, four-piece Chicken McNuggets, small French fries, and a small soft drink. Late last year, it began offering a $1 meal. It was part of what McDonald’s called its “value menu.”
McDonald’s needs some help. Its comparable store sales in the most recently reported quarter dropped .1% worldwide and 1.5% in the U.S. Revenue was flat at $6.4 billion. EPS was flat at $2.80
The results of menu decisions and perhaps a comeback of the lower-income consumer have helped McDonald’s stock price to move higher this year by 9%. The market is off 6% over the same period.
McDonald’s means to get back on a growth track, even if it is product by product.
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