McDonald's to replace Dollar Menu with dollar-and-up menu

(UPI) -- McDonald's is updating its famous Dollar Menu and renaming it Dollar Menu & More, allowing the fast food company to add more expensive items and eliminate the Extra Value Menu.

CEO Don Thompson announced the move during a Monday earnings call, saying the new menu will roll out nationally. A spokeswoman confirmed that "all restaurants are selling the Dollar Menu & More on Nov. 4."

The new menu will keep "some elements of the dollar menu, [while] adding two more tiers for our customers," the spokeswoman said. A national advertising campaign will support the new menu beginning Nov. 11.

The Dollar Menu & More will include sandwiches in the $1 to $2 range. The third and most expensive tier will include a 20-piece McNugget for around $5.

The new value items included on the Dollar Menu & More are replacing the Extra Value Menu, which was introduced in 2012 for value items costing more than a dollar and ultimately did not meet sales expectations.