McDonald's sheds stores and gains customers with budget appeal

New York

McDONALD'S is getting out of the business of running its own restaurants, but it is getting better at using a budget-friendly menu to attract customers to its franchise stores.

Promotions including beverages for a buck and the "McPick 2" value menu have helped lift comparable store sales 6 per cent globally in the most recent quarter. Such promotions reflect a revamped effort at McDonald's to focus more on value-conscious fare, its executives confirmed during a conference call with analysts on Tuesday.