Restaurants
Baird downgrades Darden Restaurants as macro risks linger
Darden Restaurants is due for a pause after a recent rally, according to Baird. Analyst David Tarantino downgraded the Olive Garden parent to neutral from outperform, saying the “risk/reward looks more balanced” following the stock’s recent outperformance. Including dividends, the company’s returned 1% to shareholders, while the S & P 500 has lost 16%. Darden […]
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Your next Domino’s delivery may arrive in a GM Chevy Bolt as pizza chain pushes EVs nationally
Domino’s will roll out 800 custom-branded 2023 Chevy Bolt electric vehicles at locations across the U.S. in the coming months. Domino’s Domino’s Pizza will be rolling out a fleet of 2023 Chevy Bolt electric vehicles, 800 of the GM EVs in total across the U.S. in the coming months, as it looks to not only […]
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Amid persistent inflation, cash-strapped consumers are tipping less
The Sweetly Bakery & Cafe in Battleground, Washington Source: Irina Sirotkina It’s the holiday season, yet Americans are feeling a little less generous. With inflation near record highs, cash-strapped consumers have started to tip less — especially when it comes to fast casual dining and carryout. “Tipping is that first sign towards reduced spending,” said Amanda […]
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Inflation forces mom and pop restaurants and chains like McDonald’s to lean on their strengths
Customers at a McDonald’s restaurant Scott Mlyn | CNBC As the restaurant industry battles inflation, the large size of chains and their access to cash gives them the upper hand, but independents have advantages of their own when managing higher costs. Feeling the pressure on their budgets, consumers have been cutting back on their restaurant […]
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Starbucks union to strike at more than 100 locations on Red Cup Day, one of the chain’s busiest days of the year
Starbucks official reusable red cup, left, and red cup from Starbucks Workers United. Source: Starbucks; Starbucks Workers United Workers at more than 100 unionized Starbucks locations plan to strike on Thursday, one of the chain’s biggest sales days of the year. To celebrate the holiday season, Starbucks every year gives away reusable red cups bearing […]
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Burger King owner Restaurant Brands hires former Domino’s CEO Patrick Doyle as chair
Patrick Doyle Scott Mlyn | CNBC Restaurant Brands International announced Wednesday that it is hiring former Domino’s Pizza CEO Patrick Doyle as its executive chair. Doyle, 59, was chief executive of Domino’s from 2010 to 2018, and oversaw the pizza chain’s transformation into a digital powerhouse in the restaurant industry. When he took the reins […]
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Tyson CFO apologizes to investors after arrest on charges of public intoxication, trespassing
John Tyson mugshot Source: Washington County, Arkansas Tyson Foods CFO John Tyson apologized to investors Monday after he was arrested Nov. 6 on charges of public intoxication and trespassing. CEO Donnie King said the company’s independent board of directors is overseeing a review of the matter. Tyson, who is the son of the company’s chairman, […]
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KFC apologizes after Kristallnacht promotion in Germany
A menu of a drive-in counter of a branch of the fast food chain Kentucky Fried Chicken (KFC). After severe setbacks in the Corona pandemic, Germany’s fast food industry wants to expand its drive-in car counters to keep customers in line. Rolf Vennenbernd | Picture Alliance | Getty Images KFC apologized this week for sending […]
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Keurig Dr Pepper CEO resigns after violating company’s code of conduct
The Keurig Dr Pepper logo is displayed on a smartphone screen. Rafael Henrique | Lightrocket | Getty Images Keurig Dr Pepper announced Thursday that CEO Ozan Dokmecioglu agreed to resign after violating the company’s code of conduct, less than four months into the job. The beverage giant said the violations were not related to the […]
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Beyond Meat reports wider-than-expected loss, falling revenue
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its third quarter as demand for its meat substitutes tumbled. CEO Ethan Brown called the results “disappointing” […]
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