A food delivery messenger carries a take-out bag outside a Sweetgreen in Manhattan, New York City, on Sept. 14, 2023. Jeenah Moon | The Washington Post | Getty Images High-income consumers helped Chipotle Mexican Grill, Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that’s been hurting other eateries. As a … Read more
A McDonalds located on Santa Monica Blvd in Los Angeles, California, April 1, 2024. Robert Gauthier | Los Angeles Times | Getty Images McDonald’s is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The people said the … Read more
A Big Mac is displayed on a page of the McDonald’s app Daniel Acker | Bloomberg | Getty Images McDonald’s U.S. franchisees will start paying into a digital marketing fund next year as the fast-food giant looks to expand its booming digital business, according to a memo viewed by CNBC on Thursday. The change is … Read more
Applebee’s and IHOP owner Dine Brands thinks its deals can lure away fast-food customers who have grown frustrated with menu prices. The company reported first-quarter earnings that fell short of Wall Street’s estimates, and both Applebee’s and IHOP’s same-store sales shrank more than expected. Still, Dine reiterated its full-year outlook and said sales have improved … Read more
A customer walks through The Home Depot store on February 20, 2024 in Austin, Texas. Brandon Bell | Getty Images The state of the consumer in 2024 is already taking shape — even before the country’s major retailers begin to report first-quarter earnings, starting with Home Depot and Walmart next week. There are signs that … Read more
It’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners. For months, economists have … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) April showers : The Dow Jones … Read more
A store of Starbucks Coffee shop chain located in Amsterdam city center with people sitting inside, enjoying a coffee after shopping in the cafe, while others are walking by. Nicolas Economou | Nurphoto | Getty Images Starbucks reported earnings after the bell. Here are the results. Earnings per share: 68 cents vs. 79 cents per … Read more
McDonald’s employee giving change to a customer. Jeffrey Greenberg | UIG | Getty Images Some of America’s best-known corporations are saying their consumers are being pinched by inflation as prices continue rising. Inflation has dominated corporate America’s discourse over the past three years following the pandemic-induced easing of monetary policy and trillions of dollars in … Read more
Here are the most important news items that investors need to start their trading day: 1. Climbing Stocks continued their gains on Monday ahead of a Federal Reserve meeting and the release of major corporate earnings. The S&P 500 climbed 0.32% while the Nasdaq Composite and Dow Jones Industrial Average rose 0.35% and 0.38%, respectively. … Read more
