by Karl Utermohlen | December 19, 2013 2:51 pm
McDonald’s (MCD) was hoping its Mighty Wings would become the restaurant’s best-selling premium product but the wings have been a flop so far.
The McDonald’s Mighty Wings will now be sold at a cheaper price after the fast food chain realized that the wings were overpriced and too spicy. Sales slowed down after consumers realized that they can get cheaper chicken wings elsewhere. Additionally, the price of the wings was much higher than the restaurant’s dollar-menu items.
Out of the 50 million pounds of chicken wings that McDonald’s purchased in anticipation of the promotion, the chain still has about 10 million pounds. The restaurant has reduced the price of a three-piece Mighty Wings meal to $2.99.
MCD stock is down 1% as of Thursday mid-afternoon.
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