Restaurants
PepsiCo takes $550 million stake in energy drink maker Celsius
Celsius Energy Drinks Courtesy: Celsius Holdings PepsiCo announced Monday a $550 million investment in energy drink maker Celsius Holdings as part of a long-term distribution deal with the smaller company. Shares of Celsius rose 8% in morning trading on the news, bringing its market value to $6.7 billion. Celsius is expecting to gain more shelf […]
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Starbucks union asks coffee giant to extend pay hikes, benefits to unionized stores
With pay increases set to kick in at Starbucks cafes around the U.S. Monday, labor organizers are asking the coffee giant to extend the benefits to unionized stores as well without going through the bargaining process. The request comes after Starbucks announced in May that it would hike wages for workers and add other benefits […]
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Trucking CEOs expect higher prices, potential disruptions in second half of the year
Trucks at the entrance to the Port of Oakland in Oakland, California, US, on Thursday, July 14, 2022. Truckers servicing some of the US’s busiest ports are staging protests as state-level labor rules that change their employment status begin to go into effect, creating another choke point in stressed US supply chains. David Paul Morris […]
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Beyond Meat stock falls after conclusion of McDonald’s McPlant test
Advertising for the McPlant burger, a plant based vegetarian alternative to more traditional meat burgers by fast food giant McDonalds on 11th July 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images Shares of Beyond Meat fell 6% in morning trading after J.P. Morgan said McDonald’s ended its U.S. test of […]
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McDonald’s and Chipotle say customers are trading down, visiting less often as inflation hits budgets
McDonald’s and Chipotle Mexican Grill say customers squeezed by inflation are choosing cheaper menu items and visiting their restaurants less often, signaling trends that could be hitting the broader restaurant industry. The two companies were among the first restaurant chains to report their second-quarter results. Wingstop, Starbucks and Taco Bell owner Yum Brands are all […]
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McDonald’s raises price of a cheeseburger in the UK for the first time in 14 years
McDonald’s has raised the price of its cheeseburgers in the U.K. for the first time in 14 years. Justin Sullivan | Getty Images News | Getty Images McDonald’s hiked the price of its cheeseburger in the U.K. for the first time in 14 years as cost pressures bite. The fast-food chain confirmed Wednesday that the […]
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Deutsche Bank downgrades McDonald’s, says fast-food chain has limited upside
McDonald’s shares could be held in check for a while, though the restaurant chain is well positioned to navigate macro uncertainty, according to Deutsche Bank. Analyst Brian Mullan downgraded shares of McDonald’s to hold from buy, citing limited upside potential for the “best performing” restaurant stock in the firm’s coverage after its outperformance this year. […]
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Chipotle price hikes drive profit growth – and the chain says more increases are coming
People visit a Chipotle restaurant on February 09, 2022 in Miami, Florida. Joe Raedle | Getty Images Chipotle Mexican Grill on Tuesday reported disappointing sales as price hikes helped boost profits but may have scared away inflation-weary customers. The company also said it would raise prices again in August, indicating that costs keep rising for […]
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Coca-Cola’s earnings top expectations as sales volume recovers from pandemic
A woman is drinking Coca-Cola near Playacar Beach in Playa del Carmen, Mexico. Artur Widak | NurPhoto | Getty Images Coca-Cola on Tuesday reported quarterly earnings that topped expectations as the beverage giant’s sales at restaurants, theaters and other venues recovered from the pandemic. Here’s what the company reported, versus what Wall Street analysts surveyed […]
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McDonald’s earnings are out – Here are the numbers
\A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California. Justin Sullivan | Getty Images McDonald’s reported its second-quarter earnings before the bell on Tuesday. Here are the numbers: Adjusted earnings per share: $2.55. Wall Street analysts surveyed by Refinitiv expected $2.47, which may not be comparable. […]
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