Chicken Lovers Rejoice: McDonald's To Bring Back Tenders, Give Boost To Poultry Industry
McDonald's Corporation (NYSE: MCD) said that it will bring back its popular chicken selects menu option. According to McDonald’s spokeswoman Terri Hickey, the move is as much customer based as economically driven.
“We are always listening to our customers and evolving our menu offerings to reflect their tastes and preferences, and we are excited to bring back this item that customers told us they enjoyed,” Hickey said.
McDonald’s decision to reintroduce chicken tenders in its restaurants is sending shockwaves through the poultry industry, which while posting strong profits in recent years has been battered by problems in the domestic oversupply of chickens in recent months. The increased demand from McDonald's should drive prices higher and stabilize the supply.
“It’s a good thing for the chicken industry,” said Brett Hundley, an analyst for BB&T Capital Markets. “Continuing limited-time offers are definitely a positive for keeping supply and demand aligned.”
Shares of McDonald’s recently traded at $93.94, down 0.68 percent.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.