Restaurants
McDonald’s and other restaurant chains look to the Sun Belt for growth as population soars
A Portillo’s Beef Bus in Kissimmee, Florida. Source: Portillo’s When Chicago-based Portillo’s enters a new market, it sends its “Beef Bus” ahead of time, slinging its hot dogs and Italian beef sandwiches to new customers for weeks, introducing them to the brand and whetting their appetites before a new restaurant finally opens. Recently, the Beef […]
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Mideast Starbucks franchisee firing 2,000 staff soon after being focused in Israel-Hamas war boycott
An empty Starbucks espresso shop in Cairo, Egypt, on Tuesday, Jan. 16, 2024. Islam Safwat | Bloomberg | Getty Illustrations or photos The Middle East franchisee of Starbucks claimed Tuesday it has begun firing all around 2,000 staff at its espresso outlets throughout the region after the brand name observed alone specific by activists during […]
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Labor unions end proxy fight at Starbucks after bargaining progress
Steph Kronos, a pro-Union activist, tries to talk to Starbucks customers as she joins Starbucks workers, former employees, and supporters in holding signs in support of a strike, outside of a Starbucks store in Arlington, Virginia, on November 16, 2023. Saul Loeb | AFP | Getty Images A group of labor unions is ending its […]
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Yum China CEO says consumers are growing more 'rational' as rising costs cut dining budgets
A KFC restaurant in Wuhan, China. Source: Yum China While economists and investors fret over China’s low consumer confidence and sluggish growth, Yum China CEO Joey Wat says the Chinese consumer is growing more rational — and has been for years. Weighed down by investors’ concern about the broader Chinese economy, shares of Yum […]
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Starbucks to hike wages for union workers as it thaws relationship with Workers United
A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023. Kevin Dietsch | Getty Images Starbucks workers at unionized cafes will receive the pay hikes that their nonunion coworkers first collected in May 2022, a key step […]
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Cava stock pops after blunder leads to early earnings release
A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. Spencer Platt | Getty Images Cava’s stock rose 7% Tuesday morning after the Mediterranean restaurant chain released its earnings report a day early. Investors […]
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Consumers are tired of inflation. But some retailers fear falling prices
A man with a paper bag of groceries looks surprised and upset at a receipt from a supermarket with high prices against the background of an escalator with customers in the shopping center. Elena Perova | Istock | Getty Images Just ahead of the holiday season, Walmart had encouraging news for inflation-weary shoppers: Prices on […]
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Beyond Meat launches new, healthier version of burger in bid to bring back customers
The latest iteration of the Beyond Burger, made with avocado oil and 20% less sodium Source: Beyond Meat Beyond Meat is launching a new version of its plant-based burger in grocery stores this spring, betting that an even healthier version of its burgers will lure back consumers. The unveiling Wednesday comes at a pivotal time […]
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Labor coalition accuses Starbucks of 'flawed' union strategy, risking shareholder value
A coalition of unions is laying out its case against Starbucks ahead of a proxy fight at its annual meeting in March, arguing the coffee giant has implemented a “flawed human capital management strategy” in response to a yearslong union movement. The Strategic Organizing Center claims the situation has put the company at reputational risk, […]
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Companies — profitable or not — make 2024 the year of cost cuts
Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker […]
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