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McDonald’s is making menu changes and updating drive-thru.
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McDonald’s Corp. MCD,
announced that he was going to test a plant-based sandwich, the McPlant.
The McPlant will debut next year, with expectations that markets will add the “when they’re ready” menu item.
The news came as part of the fast food giant’s investor event, which also coincided with the company’s third-quarter earnings announcement.
The McPlant was “made for McDonald’s, by McDonald’s,” the company said in an ad, made with all “classic toppings,” which typically include lettuce and tomato.
See: McDonald’s brings McRib back nationwide
Last year, McDonald’s tested a PLT burger, which stands for plant-lettuce-tomato, with Beyond Meat Inc. BYND,
The test ended without any further partnership announcement.
“Beyond Meat and McDonald’s co-created the plant-based pancake that will be available as part of the McPlant platform,” according to a spokesperson for Beyond Meat.
Shares of Beyond Meat fell nearly 9% on Monday after McDonald’s announcement, but rebounded as the day wore on. Beyond Meat is expected to release its third quarter results after the closing bell.
“Today’s news is not very surprising because, as we have said before, plant-based meat products are relatively easy to reproduce but difficult to innovate,” CFRA wrote in a note. Beyond Meat.
“Innovation is where Beyond Meat and Impossible Foods currently have the competitive edge, in our opinion, since the products you see on the shelves today are unlikely to be the same as the ones you see on the shelves in two to three years. “
The CFRA assesses the sale of Beyond Meat shares and the purchase value of McDonald’s shares with a target price of $ 250.
As well: Papa John CEO Says Company Added Over 8 Million New Customers This Year
In addition to McPlant, McDonald’s has also said it will expand changes to its beef burgers, which launched in Australia and Canada last year, to other markets around the world. These changes include adding onions to the grill for added flavor and new buns served toasted.
In the United States, McDonald’s serves fresh beef burgers for the Quarter Pounder sandwich, which the company says has been well received by customers.
McDonald’s will also have a crispy chicken sandwich on the menu in 2021, in addition to the currently available McNuggets and McChicken. For a limited time, McDonald’s offered a McSpicy sandwich in the US and UK which the company said was successful.
The updates also include the rollout of new packaging and new drive-through technologies, including small restaurants that will only offer drive-thru.
For the third quarter, McDonald’s reported earnings and sales that exceeded expectations and increased its dividend.
McDonald’s shares are up 8.3% year-to-date while the Dow Jones Industrial Average DJIA,
is up 3.3% over the period.
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