Restaurants
Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald’s
It’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales in its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said has adopted a “street-fighting mentality” to compete for value-minded diners. For months, economists have been […]
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Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint
A Pizza Hut store is seen on November 01, 2023 in Austin, Texas. Brandon Bell | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as Pizza Hut and KFC struggled to attract customers. Shares of the company fell more than 4% in premarket trading. Here’s what the company reported compared […]
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Starbucks shares sink 8% as similar-retailer profits fall, quarterly effects pass up
A shop of Starbucks Espresso store chain found in Amsterdam city center with men and women sitting down inside, making the most of a espresso following buying in the cafe, though other individuals are strolling by. Nicolas Economou | Nurphoto | Getty Photographs Starbucks on Tuesday noted weaker-than-envisioned quarterly earnings and earnings, fueled by a […]
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Burger King invests another $300 million to remodel restaurants
The Burger King logo is displayed at a Burger King fast food restaurant on January 17, 2024 in Burbank, California. Mario Tama | Getty Images Burger King will invest another $300 million to remodel about 1,100 of its U.S. restaurants as part of a broader turnaround effort, the chain’s parent company said Tuesday. Owner Restaurant […]
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Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices
A Coca-Cola building in Zagreb, Croatia, Nov. 8, 2023. Denis Lovrovic | AFP | Getty Images Coca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations. The beverage giant also raised its full-year outlook for organic revenue. Shares of the company rose less than 1% in premarket trading. Here’s what the company reported […]
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McDonald’s is about to report earnings. Here’s what to expect
McDonald’s french fries Picture Alliance | Picture Alliance | Getty Images McDonald’s is expected to report its first-quarter earnings before the bell on Tuesday. Here’s what Wall Street analysts surveyed by LSEG are expecting: Earnings per share: $2.72 expected Revenue: $6.16 billion expected The fast-food giant reported disappointing fourth-quarter sales. Boycotts after its Israeli licensee […]
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Starbucks, Workers United made ‘significant progress’ in this week’s contract talks
A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California. Mario Tama | Getty Images Starbucks and Workers United, which represents roughly 500 of its cafes, […]
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Red Lobster seeks a buyer as it looks to avoid bankruptcy filing
Beleaguered seafood chain Red Lobster is seeking a buyer as it looks to avoid filing for bankruptcy, CNBC has learned. The company has considered filing for bankruptcy to help it restructure its debt and get out of a number of costly and lengthy leases, but it’s also sought a buyer in recent months, people familiar […]
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Chipotle abandons Farmesa Fresh Eatery spinoff after ghost kitchen closes
Chipotle is launching Farmesa Fresh Eatery first at Kitchen United’s upcoming Santa Monica location. Source: Chipotle Mexican Grill Chipotle Mexican Grill is abandoning its Farmesa Fresh Eatery spinoff after partner Kitchen United closed its ghost kitchens. A little over a year ago, Chipotle announced the opening of its first Farmesa location at Kitchen United’s Santa […]
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Chipotle is defying restaurant slump as earnings, traffic rise again
The logo of Chipotle Mexican Grill is seen in Manhattan, New York. Shannon Stapleton | Reuters Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by higher traffic to its restaurants. The stock rose 3% in extended trading. Here’s what the company reported compared with what Wall Street was expecting, based […]
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