Restaurants
McDonald’s to extend $5 value meal offer into December in most U.S. markets
McDonald’s will extend its $5 value meal into December in most U.S. markets as it looks to win back lower-income consumers. Franchisees have been voting on extending the value meal, and roughly 80% of local markets have opted to extend the deal into December. Votes on extensions are ongoing, so additional locations may be added in […]
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Restaurant chain BurgerFi files for Chapter 11 bankruptcy protection
A BurgerFi location is seen on August 20, 2024 in Arlington, Virginia. Tierney L. Cross | Getty Images BurgerFi filed for Chapter 11 bankruptcy protection on Tuesday, less than a month after it warned investors it had “substantial doubt” about its ability to operate. The company joins the growing list of restaurant chains that have […]
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New Starbucks CEO Brian Niccol outlines priorities to end coffee chain’s slump
Brian Niccol, incoming CEO of Starbucks Anjali Sundaram | CNBC New Starbucks CEO Brian Niccol will focus on improving the chain’s U.S. business in his first 100 days on the job before he moves to fix its issues abroad, according to an open letter published on Tuesday. The coffee giant named Niccol as chief executive […]
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SEC charges Keurig Dr Pepper for making inaccurate claims about K-Cups’ recyclability
Green tea pod is visible inside a Keurig brand coffee maker, Lafayette, California, December 17, 2022. Photo courtesy Sftm. Gado | Archive Photos | Getty Images The Securities and Exchange Commission has charged Keurig Dr Pepper for making inaccurate claims about the recyclability of its disposable K-Cup pods, the agency said Tuesday. Keurig has agreed […]
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Nelson Peltz steps down as chair of Wendy’s board, starting a new era for burger chain
Nelson Peltz speaking at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019. Adam Jeffery | CNBC Nelson Peltz is stepping down as chair of Wendy’s, ending a 17-year reign at the fast-food chain. Wendy’s said Friday that the change is effective immediately. Peltz’s exit comes as low-income consumers eat out less, […]
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Red Lobster cleared to exit Chapter 11 bankruptcy
The exterior of a Red Lobster restaurant on May 20, 2024 in Austin, Texas. Brandon Bell | Getty Images A bankruptcy court approved Red Lobster’s plan to exit Chapter 11, putting the seafood chain one step closer to exiting bankruptcy. The company, known for its seafood offerings and cheddar biscuits, filed for bankruptcy protection in […]
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Beyond Meat to launch new steak alternative as it focuses on health
Beyond Meat in El Segundo, California, on May 30, 2024. Christina House | Los Angeles Times | Getty Images Beyond Meat will introduce a whole-muscle steak alternative as part of its pivot to win over health-conscious consumers. CEO Ethan Brown said on Wednesday that the rollout will likely include a partnership with a restaurant chain […]
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These 10 restaurant chains filed for bankruptcy this year
The Red Lobster logo is displayed outside of a closed restaurant in Torrance, California, on May 14, 2024. Patrick T. Fallon | Afp | Getty Images Restaurant bankruptcy filings have surged so far this year, echoing a broader rise in corporate bankruptcies across sectors. At least 10 restaurant chains, not including multi-unit franchisees, have filed […]
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Restaurants fight back against the FTC crackdown on ‘junk fees’ as diners balk at new charges
Leopatrizi | E+ | Getty Images Lawmakers want to crack down on “junk fees,” but restaurants are trying to stay out of the fight. Surcharges or fees covering everything from credit card processing to gratuities to “inflation” have become more popular on restaurant checks in recent years. Last year, 15% of restaurant owners added surcharges […]
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Cava earnings beat estimates as restaurant traffic climbs nearly 10%
Customers arrive at a Cava restaurant in New York City on June 22, 2023. Brendan Mcdermid | Reuters Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue. Shares of the company rose 7% in extended trading. The stock has more than doubled its value this […]
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