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McDonald's lays out plan it hopes can reverse drop in visits

NEW YORK (AP) - McDonald's acknowledged that it lost 500 million customer transactions in the U.S. since 2012, and said it plans to use tempting value deals to help win people back.

The world's biggest burger chain said Wednesday during its investor day in Chicago that much of that business was lost after it did away with its Dollar Menu. It noted that an upside was that the majority of those customer visits were lost to other major fast-food chains, rather than to newer rivals.

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