McDonald’s says renewed value focus is bringing customers back

McDonald’s said its renewed focus on price and promotions helped pull customers back in the October–December quarter, when global same-store sales rose 5.7% and U.S. same-store sales climbed 6.8%. Wall Street analysts polled by FactSet had expected 3.9% growth for the period, underscoring the gap between company performance and expectations.

Chief Executive Chris Kempczinski framed the push as defensive and strategic, saying, "McDonald’s is not going to get beat on value and affordability." Management said a string of pricing moves and promotions in 2025 aimed to restore traffic that had slipped among lower-income households.

The company’s tactics included a September price cut on some U.S. combo meals under an Extra Value Meal promotion, a McValue menu rolled out earlier in 2025, and the return of Snack Wraps in July for $2.99. McDonald’s executives told investors those steps, combined with marketing, helped regain traction with consumers in households earning $45,000 or less, a segment company leaders had warned last summer had been drifting away.

Financials illustrated the scale of the rebound. McDonald’s reported fourth-quarter revenue rose 10% to $7.01 billion, beating a roughly $6.84 billion Wall Street forecast, while net income rose 7% to $2.16 billion. Adjusted earnings per share were $3.12 after excluding one-time items including restructuring charges, topping analysts’ forecasts of $3.05.

Marketing played a role in the quarter’s momentum. The Monopoly game returned in October and a Grinch-themed meal ran in December. Kempczinski said McDonald’s "sold 50 million pairs of Grinch socks with those meals in the first few days of the promotion, briefly making the company the largest seller of socks in the world."

International markets showed similar results. Company-operated international same-store sales rose 5.2% in the quarter, with Germany benefiting from lower-priced McSmart snacks and Australia reporting that locking pricing on value items for 12 months starting in July drove higher traffic. Ian Borden, McDonald’s chief financial officer, said the company was confident in its initiatives but warned the momentum could ebb, noting "We’re really confident about what’s within our control, really confident about the underlying momentum of the business." Borden expects the same-store sales pace to slow in the January–March quarter because severe winter weather hurt traffic and forced some restaurants to limit hours or close.

Looking ahead, McDonald’s said it is working on new menu items for 2026 and plans to roll out McCafé energy drinks, iced coffees and fruity refreshers sometime later this year, with beverage ideas drawn from the short-lived CosMc’s format. Management’s message to franchisees and crew is clear: defend value and keep the consumer segment earning $45,000 or less in play while navigating seasonal headwinds.