Restaurants
Starbucks to unveil ‘reinvention’ strategy at investor day on Tuesday
CEO of Starbucks Howard Schultz in New York City. Steven Ferdman | Getty Images Starbucks is expected to unveil a reinvention plan Tuesday as the coffee giant grapples with changing consumer behavior, outdated store designs and a union push in the U.S. The strategy is the brainchild of outgoing interim CEO Howard Schultz, who returned […]
Read More
Burger King unveils $400 million plan to revive U.S. sales with investments in renovations and advertising
CASCAIS, PORTUGAL – Burger King signs are seen at the local fast food restaurant. Horacio Villalobos | Corbis News | Getty Images Burger King on Friday said it plans to spend $400 million over the next two years on advertising and renovating its restaurants as part of a broader strategy to revive lagging U.S. sales. […]
Read More
Outgoing Starbucks CEO Howard Schultz says he won’t return for a fourth stint
Outgoing Starbucks CEO Howard Schultz says that he’ll never return to the top job after the coffee giant announced a new succession plan last week. “I’m never coming back again, because we found the right person,” he said Wednesday on CNBC’s “Squawk Box.” Laxman Narasimhan, who is currently CEO of Lysol owner Reckitt, will join […]
Read More
‘It’s starting to cripple us’: British fish and chip shops fear for their survival as costs surge
SKEGNESS, England – Aug. 30, 2022: Salt’s fish and chip shop in Skegness, Lincolnshire. Manager Liam Parker told CNBC the family business is looking to cut costs through the winter as soaring energy and fish prices weigh on small businesses. Elliot Smith/CNBC SKEGNESS, England — Traditional British fish and chip shops are facing an “extinction […]
Read More
NYC sues Starbucks for coffee chain’s firing of union organizer
A cup of Starbucks coffee sits on a table in a cafe. Joel Boh | Reuters New York City is suing Starbucks over allegations that the company wrongfully terminated a barista and union organizer. The city’s Department of Consumer and Worker Protection said the case marks its first lawsuit for a violation of New York […]
Read More
Starbucks CEO transition plan gets muted reaction from Wall Street
“As we create more premium beverages, it becomes more difficult for customers to replicate it at home and we think that helps with the concept of trade down,” Starbucks CFO Rachel Ruggeri told CNBC’s “Squawk Box” on Aug. 3. Gary Hershorn / Contributor / Getty Images Wall Street’s reaction to Starbucks’ new CEO was muted […]
Read More
No, McDonald’s all-day breakfast isn’t returning in October
A McDonald’s “Big Breakfast” and Egg McMuffin are displayed at a McDonald’s restaurant in Fairfield, California. Justin Sullivan | Getty Images No, McDonald’s isn’t bringing back its popular all-day breakfast next month. The fast-food giant ended the offering during the early days of pandemic lockdowns as part of a broader scheme to simplify service. Bloated […]
Read More
Starbucks names Laxman Narasimhan as new CEO, starting in April
Starbucks on Thursday named Laxman Narasimhan as its next chief executive officer. Narasimhan most recently served as CEO of health and hygiene company Reckitt, which owns brands such as Lysol, Durex and Mucinex. He announced earlier Thursday he was stepping down from that role. He’ll join Starbucks in October, learning about the company and its […]
Read More
Americans have ‘tip fatigue’ — post-pandemic, diners are less inclined to tip generously for takeout
At the Sweetly Bakery & Cafe in Battle Ground, Washington, near Portland, Oregon, customers seem to be feeling a little less generous lately. With inflation near record highs and consumers increasingly cash-strapped, a gratuity isn’t what it used to be. “Since everything got more expensive, we’ve seen a decline in tipping,” said Sweetly’s owner, Irina […]
Read More
Gatorade adds caffeine to its lineup with energy drink Fast Twitch
Fast Twitch, from the makers of Gatorade Source: PepsiCo Gatorade is entering the energy drink category with a caffeinated spin-off called Fast Twitch. It represents yet another example of beverage companies blurring the lines between drink categories, seeking to leverage existing brand loyalty while entering fast-growing categories. Gatorade’s parent company, PepsiCo, has already expanded Mountain […]
Read More