Restaurants
Mediterranean restaurant chain Cava confidentially files for an IPO
A logo outside of a Cava restaurant location in Chantilly, Virginia. Kristoffer Tripplaar | Sipa USA | AP Mediterranean chain Cava announced Monday that it has confidentially filed for an initial public offering. It’s the first restaurant company so far this year to take the first step toward a public market debut, following a drought […]
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Starbucks misses anticipations as China drags down worldwide revenue
A Starbucks retailer is viewed inside of the Tom Bradley terminal at LAX airport in Los Angeles, California. Lucy Nicholson | Reuters Starbucks on Thursday claimed quarterly earnings and revenue that fell limited of analysts’ expectations as weak intercontinental need weighed on its outcomes. In China, the company’s second-biggest marketplace, transactions at cafes open at minimum […]
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Sandwich chain Subway’s sales climb as turnaround takes hold ahead of potential sale
An employee halves a Subway sandwich at a Subway restaurant on January 12, 2023 in Austin, Texas. Brandon Bell | Getty Images Subway said its same-store sales climbed 9.2% in 2022, signaling the sandwich chain’s turnaround is taking hold as it reportedly explores a sale. The company is not required to disclose its financial results […]
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How robots are helping address the fast-food labor shortage
Struggling to find workers and eager to relieve staff from boring, repetitive tasks, fast-food restaurant chains are adding robots to their kitchens. Using artificial intelligence, computer vision technology and a mechanical arm, Miso Robotics’ Flippy 2 has been deployed to Chipotle, White Castle and Wing Zone. White Castle said it plans to add 100 Flippy […]
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Activist investor Nelson Peltz’s Trian won’t pursue Wendy’s takeover
David Paul Morris | Bloomberg | Getty Images Nelson Peltz isn’t interested in acquiring Wendy’s, according to a regulatory filing made on Friday. Peltz serves as non-executive chair on the burger chain’s board and as chief executive of activist firm Trian Fund Management, which is its largest shareholder. In May, Trian said it was exploring […]
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Starbucks CEO Howard Schultz tells corporate workers to return to the office 3 days a week
Howard Schultz David Ryder | Reuters Starbucks corporate employees will be returning to the office at least three days by the end of the month. Starting Jan. 30, employees within commuting distance will be required to report to the coffee giant’s Seattle headquarters on Tuesdays, Wednesdays and a third day decided on by their teams. […]
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SEC fines former McDonald’s CEO for misleading investors about his firing
Former McDonald’s CEO Stephen Easterbrook unveiling the company’s new corporate headquarters during a grand opening ceremony on June 4, 2018, in Chicago Scott Olson | Getty Images The Securities and Exchange Commission charged former McDonald’s CEO Steve Easterbrook on Monday with misrepresenting his November 2019 firing. Easterbrook has agreed to a $400,000 fine, without admitting […]
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Some restaurant workers could see big wage growth in 2023
Employees prepare food orders at a Portillo’s restaurant in Chicago, Illinois, on Tuesday, Sept. 27, 2022. Christopher Dilts | Bloomberg | Getty Images More than half of U.S. states will hike their minimum wage this year, but some restaurant workers could see even bigger gains in 2023. California’s state minimum wage rose to $15.50 an […]
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McDonald’s plans reorganization, job cuts as it accelerates restaurant openings
Noam Galai | Getty Images Entertainment | Getty Images McDonald’s is planning job cuts and a reorganization as the company refocuses its priorities to accelerate restaurant expansion, CEO Chris Kempczinski told employees Friday. The fast-food giant said the job cuts aren’t a cost-cutting measure but are instead intended to help the company innovate faster and […]
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