Restaurants
Wendy’s will offer $3 breakfast deal, as rivals such as McDonald’s test value meals to drive sales
An exterior view of a Wendy’s fast-food restaurant in Bloomsburg, Pennsylvania, on May 19, 2024. Paul Weaver | SOPA Images | Getty Images Wendy’s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. The deal will include a […]
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Red Lobster files for Chapter 11 bankruptcy protection
A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Justin Sullivan | Getty Images Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement. CNBC reported last month […]
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Are consumers pulling back on spending? It depends which CEO you ask
People walk past a Sweetgreen restaurant in Manhattan on September 14, 2023. Jeenah Moon | The Washington Post | Getty Images With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren’t. The most recent […]
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Affluent consumers are creating a ‘bubble’ at Walmart, warns retailer’s former U.S. CEO Bill Simon
Fast Money Affluent consumers are creating a ‘bubble’ at Walmart, warns retailer’s former U.S. CEO Bill Simon Published Thu, May 16 20247:57 PM EDT Stephanie Landsman@stephlandsman WATCH LIVE Source
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McDonald’s $5 value meal is coming in June — and staying for just a month
A McDonald’s store sign in Austin, Texas, Oct. 30, 2023. Brandon Bell |Getty Images McDonald’s is set to offer a $5 value meal in the U.S., but only for a limited time. The promotion will include four items for $5 — a McChicken or McDouble, four piece chicken nuggets, fries and a drink — and […]
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Fat Brands confidentially files to IPO Twin Peaks, Smokey Bones brands days after federal indictment
Smokey Bones at Broadcasting Square. Tim Leedy | Medianews Group | Getty Images Fat Brands said Tuesday it has confidentially filed to take its Twin Peaks and Smokey Bones restaurant chains public through an initial public offering, less than a week after federal authorities charged the restaurant company and its chair Andy Wiederhorn for an […]
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Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown
A food delivery messenger carries a take-out bag outside a Sweetgreen in Manhattan, New York City, on Sept. 14, 2023. Jeenah Moon | The Washington Post | Getty Images High-income consumers helped Chipotle Mexican Grill, Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that’s been hurting other eateries. As a […]
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McDonald’s is working to introduce a $5 value meal
A McDonalds located on Santa Monica Blvd in Los Angeles, California, April 1, 2024. Robert Gauthier | Los Angeles Times | Getty Images McDonald’s is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The people said the […]
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Sweetgreen shares soar 35% after company beats revenue expectations
People dine outside a Sweetgreen in Manhattan. Jeenah Moon | The Washington Post | Getty Images Sweetgreen shares surged 35% on Friday after the company topped Wall Street’s revenue expectations for the first quarter. The salad chain reported $158 million in revenue, beating the LSEG consensus estimate of $152 million. It is an increase of […]
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Fat Brands, chair Andy Wiederhorn indicted in $47 million ‘sham’ loan scheme
Federal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat Brands, Wiederhorn and a few other people were criminally indicted by a federal grand jury in Los […]
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