McDonald's customers are ordering less and switching to value menu items to save money

• McDonald's customers are "trading down" to its value items and buying less, execs told investors.
• Some diners also appear to be switching to McDonald's from full-service restaurants, CEO Chris Kempczinski said.
• Kempczinski also spoke about the viral "Grimace Shake" trend, which he said was the theme of the quarter.

McDonald's customers are ordering fewer items and switching to value menu items to save money, executives at the fast-food giant say.

Customers are "trading down" from premium and higher-priced items to core and value items instead, CFO Ian Borden told investors on Thursday, without giving specific examples.