McDonald's used the Dollar Menu to lift its profit in the latest quarter. Now the world's biggest hamburger chain is turning to a pipeline of new menu items to boost slumping sales, starting with "Fish McBites."
The Oak Brook, Ill.-based company is betting that it will be able to beat back intensifying competition and economic pressures with the lineup, which executives said includes new burgers, chicken entrees and breakfast offerings that are performing well in test markets. The Fish McBites, which will come in three sizes and use the same Alaskan pollock used in the Filet-O-Fish, are set to be launched as a limited-time addition in February.
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The stepped up offerings come after McDonald's managed to eke out a higher profit for the October-to-December period with a series of short-term maneuvers, such as touting its Dollar Menu, shifting the release of its McRib from October to December and pushing franchisees to stay open on Christmas.
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In addition a more "robust" pipeline of new products, McDonald's executives said they'll boost sales by continuing remodeling efforts and extending store hours around the world.