Restaurants
Consumers are more likely to cut back on restaurant visits than trade down to fight inflation, report says
People sit outdoors at the Petite Crevette Restaurant on June 05, 2021 in the Brooklyn borough of New York City. Robert Nickelsberg | Getty Images During the Great Recession, consumers hunted for bargains, trading down to cheaper restaurants or picking the least expensive menu options. But today, as inflation puts pressure on their wallets, consumers […]
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Restaurants expect strong sales this summer. Consumers aren’t so sure
A waitress delivers sushi orders at Masa Hibachi Steakhouse & Sushi in Silver Spring, Maryland. Bill O’Leary | The Washington Post | Getty Images Warmer weather usually boosts restaurant sales, but diners may hold back for the second straight summer as inflation weighs on consumers’ minds — and wallets. “I think operators are still hopeful […]
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Panera Bread parent announces CEO transition as it prepares for ‘eventual IPO’
Customers patronize an open Panera Bread location in the Walt Whitman Mall on March 26, 2020 in Huntington Station, New York. Bruce Bennett | Getty Images Panera Bread’s parent company is switching up its leadership as it prepares to go public again. The announcement, made Tuesday, confirms that the restaurant company is interested in an […]
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Mediterranean restaurant chain Cava files for IPO as revenue climbs
A person walks past a Cava restaurant location in Pasadena, California, February 6, 2023. Mario Tama | Getty Images Mediterranean restaurant chain Cava saw its revenue rise 12.8% in 2022, according to regulatory filings released Friday as it filed to go public through an initial public offering. It plans to trade on the New York […]
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This company could take lab-grown meat mainstream thanks to a green light from the FDA
A look at Upside’s prepared chicken product. Upside Foods When Amy Chen took her first bite of chicken meat grown directly from cells in a lab, her initial reaction was a cliché one-liner: It tasted like chicken. That bite was years in the making. Chen is the operating chief at Upside Foods, a Berkeley, California-based […]
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Bowlero executive publicly comments on discrimination probe for first time as bowling alley chain continues torrid growth
A Bowlero executive publicly addressed the sprawling federal discrimination probe the company is facing for the first time Wednesday after it reported another quarter of what it called record-breaking growth. Brett Parker, the company’s outgoing chief financial officer and longtime number two to CEO Thomas Shannon, was asked about the investigation during an earnings call. […]
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Kraft Heinz unveils customizable sauce dispenser with more than 200 condiment combos for restaurants
A rendering of the Heinz Remix dispenser Source: Kraft Heinz For more than 125 years, Heinz bottles have touted “57 varieties,” a number completely made up by its founder with little to no real-life application. Now, Kraft Heinz wants to offer customers more than three times that number of condiment options through a new customizable […]
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China’s recovery lifts U.S. companies’ sales as domestic customers pull again spending
Pedestrians stroll previous Yum! Brands Inc. Pizza Hut and KFC places to eat in Shanghai, China. Qilai Shen | Bloomberg | Getty Illustrations or photos China is leaving behind pandemic lockdowns, and U.S. firms like Procter & Gamble, Starbucks and MGM Resorts International say the country’s restoration is boosting their general product sales as people […]
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In Chinatowns across the U.S., tradition and history collide with luxury development
Just a few hundred people of Chinese heritage still live in Washington, D.C.’s Chinatown. Many have been pushed out to cheaper and safer areas. Noah Sheidlower | CNBC Penny and Jack Lee, now married, grew up in the 1960s and 1970s among the thousands of people of Chinese heritage who lived in apartments lining the […]
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McDonald’s new battle over the way the Massive Mac and fries are packaged
S3studio | Getty Illustrations or photos News | Getty Illustrations or photos In 1990, McDonald’s ditched the styrofoam household for the Major Mac, and its signature burger has been served ever considering the fact that in paper wrap. Reusable packaging may be subsequent. McDonald’s is making some development on a goal it established in 2018 […]
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