McDonald's to Cut Prices on Drinks as Fast-Food Industry Slumps

McDonald’s Corp., reeling from an industrywide restaurant slump and slowing growth from its all-day breakfast push, is looking to beverages to help perk up the business. The world’s biggest food-service company, which last year focused its advertising on cheeseburgers and chicken sandwiches, plans to offer $1 sodas and $2 McCafe specialty drinks across the U.S. It’s turning to higher-margin beverages at a time when cheap grocery prices are prodding more Americans to eat at home. The drink promotion may also help McDonald’s cope with the eventual rebound in food costs.