LOS ANGELES Nov 25 In a widely anticipated
move, McDonald's Corp (MCD.N) said on Tuesday it will raise the
price of its flagship Double Cheeseburger to $1.19 and
introduce a new "McDouble" burger to its Dollar Menu on Dec.
The McDouble will have two beef patties and one slice of
cheese -- one fewer cheese slice than the Double Cheeseburger
-- and will retail for $1.
The prices mentioned are McDonald's recommended prices,
franchisees may price the items differently.
Analysts earlier this month predicted the swap following
meetings with McDonald's executives.
The popularity of McDonald's Dollar Menu has helped the
company outperform most of its rivals amid a sharp economic
Raising the price on the Double Cheeseburger should help
the company's franchisees protect their profits from rising
costs for meat and other key ingredients.
Restaurant companies have been carefully raising prices for
fear of alienating cash-strapped consumers, who in many cases
can prepare healthy meals at home for less money than it costs
to eat out.
Shares in McDonald's closed up $1.30, or 2.3 percent, to
$56.81 on the New York Stock Exchange and were unchanged in
(Reporting by Lisa Baertlein; Editing by Bernard Orr)