Restaurants
Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million
Bowlero, the buzzy bowling company that was one of the few successful stocks to emerge from the SPAC boom, is the subject of a sprawling federal investigation into age discrimination and retaliation that authorities now want to settle for $60 million, CNBC has learned. Negotiations over the settlement, proposed by the U.S. Equal Employment Opportunity […]
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Restaurants embrace premium reservations to target big spenders
The OpenTable website on a mobile phone arranged in Dobbs Ferry, New York, May 1, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images Under pressure from rising costs and still feeling the hangover from pandemic losses, restaurants are embracing reservations that target higher-income diners as more consumers book their tables ahead of time. The pandemic […]
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Salad chain Sweetgreen reports narrowing losses as it aims for profitability
Nicolas Jammet, chief concept officer and co-founder of Sweetgreen Inc., right, eats a salad during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Sweetgreen on Thursday reported a narrower-than-expected loss in […]
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Olive Garden parent Darden Restaurants bets on fine dining with $715 million Ruth’s Chris deal
A Ruth’s Chris Steak House in Miami, May 3, 2023. Joe Raedle | Getty Images News | Getty Images Olive Garden owner Darden Restaurants is betting on fine dining with its $715 million acquisition of Ruth’s Chris Steak House. The company’s announcement on Wednesday that it’s adding another fine-dining restaurant to its portfolio surprised some. […]
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McDonald’s franchisees fined after 305 minors, including 10-year-olds, found working illegally
McDonald’s location in Louisville, Kentucky. Luke Sharrett | Bloomberg | Getty Images More than 300 minors — including two 10-year-olds who were unpaid — were found to be working in violation of federal labor laws at McDonald’s franchise restaurants across Kentucky and other states, the U.S. Labor Department said this week. The franchisees in total […]
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Olive Garden owner Darden Restaurants buys Ruth’s Chris Steak House for $715 million
A pedestrian wearing a protective mask walks past a Ruth’s Chris restaurant in Washington, D.C., on Monday, April 20, 2020. Andrew Harrer | Bloomberg via Getty Images Darden Restaurants said Wednesday it is buying Ruth’s Hospitality Group, the parent company of Ruth’s Chris Steak House, for $715 million. The deal values Ruth’s at $21.50 per […]
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Yum Brands earnings miss estimates despite KFC and Pizza Hut’s recovery in China
Cars wait in a line at a KFC (Kentucky Fried Chicken) drive-thru in Bloomsburg. Paul Weaver | LightRocket | Getty Images Yum Brands on Wednesday reported quarterly earnings that fell short of analysts’ expectations, despite a China sales rebound for KFC and Pizza Hut. Yum joins the growing list of companies that includes Procter & Gamble and […]
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Starbucks is about to report earnings. Here’s what to expect
Starbucks Coffee logo is seen on cups in the cafe in Krakow, Poland on February 16, 2023. Nurphoto | Nurphoto | Getty Images Starbucks is expected to report its fiscal-second quarter results after the bell Tuesday. Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv: Earnings per share: 65 cents […]
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Restaurant Brands earnings beats estimates, fueled by Tim Hortons’ and Burger King’s strong sales
In this photo illustration, a Burger King Whopper hamburger is displayed on April 05, 2022 in San Anselmo, California. Justin Sullivan | Getty Images Restaurant Brands International on Tuesday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by double-digit same-store sales growth at Tim Hortons and Burger King. Shares of the company were flat in […]
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Prebiotic soda Olipop approaches $200 million in annual sales — and CEO says Coca-Cola and PepsiCo have already come knocking
Prebiotic soda maker Olipop is set to cross $200 million in annual sales this year, just five years after it arrived on grocery store shelves. Founder and CEO Ben Goodwin said beverage giants PepsiCo and Coca-Cola have already come knocking. But he’s not interested in cashing out just yet. “Right now, my focus is on […]
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