Restaurants
Starbucks beats earnings and revenue estimates, despite lockdowns in China
An employee hands a bag to a customer at the drive-thru of a Starbucks coffee shop in Hercules, California, on Thursday, July 28, 2022. David Paul Morris | Bloomberg | Getty Images Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance. Shares of the company rose more […]
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Molson Coors stock falls as company cites split in consumer spending on beer
A bottle of Molson Coors Brewing Co. Blue Moon brand beer Tiffany Hagler-Geard | Bloomberg | Getty Images Molson Coors Beverage is seeing a split emerge among its customers as inflation hits their wallets: Some beer drinkers are trading down, while others are still shelling out for pricier six-packs. Shares of the beverage company closed […]
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Taco Bell says its Mexican Pizza will be back in September
Taco Bell’s Mexican Pizza Source: Taco Bell Mexican Pizza will be returning as a permanent menu item at Taco Bell on September 15, according to the fast-food chain. The chain, owned by Yum Brands, had pulled the item in 2020 to simplify its menu before bringing it back this May. But Taco Bell said ingredient […]
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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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