Wendy\u2019s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out.<\/p>\n
The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.<\/p>\n
The promotion comes as Wendy\u2019s rival McDonald\u2019s plans a similar yet limited value meal option as it tries to boost traffic. Last week, CNBC reported the fast-food giant\u2019s $5 meal deal would be available in stores for only a month, starting June 25.<\/p>\n
Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback. Other fast-casual chains have enjoyed strong sales despite higher prices.<\/p>\n
As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.<\/p>\n
Wendy\u2019s earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million. Its same-restaurant sales worldwide grew only 0.9% in the quarter.<\/p>\n
McDonald\u2019s missed first-quarter earnings expectations last month. Although higher prices have helped the chain\u2019s revenue, they have scared away some low-income customers. Chief Financial Officer Ian Borden said the company has adopted a \u201cstreet-fighting mentality\u201d to compete for value-minded diners.<\/p>\n
KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates. The company cited same-store sales declines for KFC and Pizza Hut.<\/p>\n<\/p>\n
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