Time for your taste buds to weep for joy: At long last, McDonald’s Snack Wrap is back.
On Thursday, the fast-food chain will re-release the fan favorite in restaurants nationwide. Originally introduced in 2006, this tortilla-encased chicken treat was discontinued in 2020 due to declining sales. An emotional social media movement sprung up campaigning for the wrap’s return, and their prayers were finally answered with two flavors—spicy and ranch—hitting menus for $2.99.
That’s not all the menu changes Golden Arches is cheffing up lately. In addition to looking back to capitalize on nostalgia, it’s looking forward with innovations like the Spicy Egg McMuffin, introduced on Tuesday to celebrate the 50th anniversary of the breakfast staple. Unlike the Snack Wrap, which is back for good (thank heavens), the Spicy McMuffin is a limited-time offering, a popular trend among restaurant chains in an attempt to drum up more traffic on social media as well as in their eateries.
Zoom out: McDonald’s expanded menu offerings come at a time when the company is ravenous to boost sales. In McDonald’s most recent quarter, comparable sales slid 1% globally and 3.6% in the US—the worst domestic performance since its 8.7% nosedive during the Covid pandemic.
This waning taste for McD’s menu has sent the stock on a bumpy ride, from a 2025 low of under $277 in January to a high of over $321 in May. In the end, the stock is right where it began on New Year’s: Shares are flat as a pancake for the year.
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Over the past decade, the average price of a McDonald’s meal has more than doubled, according to Chaikin Analytics, the biggest price hike among a dozen fast-food chains and over triple the broader inflation rate.
Meanwhile, Americans are cheaping out on dining out. Spending at restaurants declined 0.9% in May per the Census Bureau, and although it inched up in June, foot traffic at full-service sit-down restaurants remained flat as cash-strapped consumers flocked to more budget-friendly casual eateries (which McDonald’s curiously hasn’t benefited from).
Although McDonald’s prices are up, it’s still a relatively affordable place to eat, and the company is now playing up its value cred with the Snack Wrap—which, priced at $2.99, is expected to appeal to thrifty consumers. Meanwhile, the Spicy McMuffin will run you $5.19–$6.49. But are they expensive and exciting enough to restore investors’ faith? Only Grimace knows.—JD