Restaurants
Former Starbucks CEO Howard Schultz steps down from coffee chain’s board
Former Starbucks CEO Howard Schultz speaks at the Annual Meeting of Shareholders in Seattle, March 22, 2017. Jason Redmond | AFP | Getty Images Former Starbucks CEO Howard Schultz is stepping down from the coffee chain’s board, the company said Wednesday. “I look forward to supporting this next generation of leaders to steward Starbucks into […]
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How Outback’s good results in Brazil is keeping the Australian-design and style barbecue chain alive
Outback Steakhouse, renowned for its American twist on Australian-fashion barbecue, has discovered unpredicted good results in Brazil as its U.S. business enterprise stalls. The South American segment is liable for an astonishing 83% of Bloomin’ Brands’ overall worldwide profits. In the initially 50 % of 2023, Brazilian income surged by 61%, foot targeted visitors rose […]
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McDonald’s to start focus groups with owners as part of civil rights audit
A McDonald’s restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBC McDonald’s will begin virtual focus groups with some owners and operators as a part of an ongoing civil rights audit, according to a message to franchisees viewed by CNBC. The fast food giant retained WilmerHale law firm to conduct the […]
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Autumn arrives earlier than ever for Starbucks and others with pumpkin menu items
Starbucks’ iced pumpkin cream chai tea latte. Source: Starbucks In most of the U.S., tree foliage is green and temperatures are warm. But for many restaurants and retailers, fall is already here. Halloween candy and pumpkin spice lattes used to wait until after Labor Day to make their annual debuts, ushering in the start of […]
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IHOP rolls out biscuits menu nationwide for the first time as the chain fights slowing sales
IHOP’s new lineup of biscuit sandwiches. Source: IHOP For the first time ever, IHOP is making its biscuits menu available nationwide. The Dine Brands chain, best known for its pancakes, has been branching out into different categories, from burritos to savory crepes, after slashing its menu by a third during the early days of the […]
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Subway sandwich chain sells itself to Dunkin’ owner Roark Capital
In this photo illustration, a Subway meal is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Brandon Bell | Getty Images Roark Capital is buying Subway, ending the sandwich chain’s more than five decades of family ownership and marking a new era for the struggling company. The announcement […]
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Starbucks adds third pumpkin drink to fall menu as chain celebrates 20 years of the pumpkin spice latte
Starbucks’ new fall drink, the iced pumpkin cream chai latte. Source: Starbucks As Starbucks celebrates the 20th anniversary of its pumpkin spice latte, the coffee chain is adding a third pumpkin drink to its fall menu. Starting Thursday, the iced pumpkin cream chai latte joins the company’s existing pumpkin lineup, which also includes the pumpkin […]
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3 trends are dividing restaurant companies into winners and losers
A McDonald’s restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBC Restaurant companies navigating some of the same challenges in the second quarter fell into two categories: winners and losers. Some chains said their higher menu prices alienated diners, while others said consumer behavior hasn’t changed even as their food and […]
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Outback Steakhouse owner’s stock rises after activist Starboard Value buys stake
An Outback Steakhouse truck sits parked outside a restaurant in New York. Daniel Acker | Bloomberg | Getty Images Shares of Outback Steakhouse owner Bloomin’ Brands rose 9% in premarket trading Friday after an activist investor disclosed its interest in the restaurant company. Starboard Value now owns 9.9% of Bloomin’s shares, according a regulatory filing. […]
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Cava and Sweetgreen see delivery orders fall as customers pick up their own food
A customer enters a Cava restaurant in Pasadena, California, Feb. 6, 2023. Mario Tama | Getty Images News | Getty Images Fast-casual chains Cava and Sweetgreen each said customers are ordering delivery less often and instead picking up their own food, in a signal that diners are growing more thrifty. Breaking a delivery habit is […]
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