McDonald's (MCD) is out with an update to its burger lineup that will impact its Big Mac, McDouble burger, cheeseburger, double cheeseburger, and hamburger.
The changes include a softer bun, more melted cheese, adding white onions onto the patties for a caramelized flavor, and more Big Mac sauce, the company announced Monday. The updated recipe is currently being offered on the West Coast in the following cities: Los Angeles, Seattle, Portland, San Francisco, Sacramento, Phoenix, Las Vegas, Salt Lake City, and Denver, among others. By early 2024, the changes will be available nationwide.
The change was first introduced in international markets, including Australia, Canada, and Belgium, where McDonald's said the new recipe received "rave reviews."
“We found that small changes...adjusting our grill settings for a better sear, added up to a big difference in making our burgers more flavorful than ever," a McDonald's executive said in the release.
Americans seem to still be lovin' McDonald's core menu items.
Last quarter, same-store sales in the U.S. increased by 10.3%, higher than expectations of 7.62%. In a call with investors, CEO and President Chris Kempczinski said there are still lots of opportunities to grow market share with its core menu items as it works towards its larger growth strategy, Accelerating the Arches 2.0, and its commitment to core menu items such as burgers, chicken, and coffee.
McDonald's is "continuing to grow our share in beef despite having a very strong presence in that already," he said.
This reinvestment in its burgers comes nearly two years after it entered into the chicken sandwich wars, which Kempczinski said is performing well for the global fast food chain."We are gaining market share in both chicken and beef," he said on the call.
Compared to a year ago, McDonald's stock is up more than 15%. Guggenheim Partners Director Gregory Francort told Yahoo Finance the company has a massive market share. "This is a company that's doing $50 billion in sales on an industry that's $800 [billion] or $900 billion."
This reinvestment comes as competitor Burger King (QSR) is looking to take some of that market share, with a major $400 million overhaul dubbed Reclaim the Flame and reinvestment into its core menu item, the Whopper.
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Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at [email protected].
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