Howard Schultz, former chief executive officer of Starbucks Corp., drinks from a Starbucks mug during a Senate Health, Education, Labor, and Pensions Committee hearing in Washington, DC, US, on Wednesday, March 29, 2023. Al Drago | Bloomberg | Getty Images Former Starbucks CEO Howard Schultz weighed in Sunday on the coffee chain’s dismal latest quarterly … Read more
When you make a mistake in this business you can do one of two things: You can cut your losses and move on or you can stand your ground while rethinking where it went wrong. I am on the fence about which one is better, but it’s easy to see why the first approach — … 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
A Pizza Hut store is seen on November 01, 2023 in Austin, Texas. Brandon Bell | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as Pizza Hut and KFC struggled to attract customers. Shares of the company fell 3% in premarket trading. Here’s what the company reported compared with what … 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
The Burger King logo is displayed at a Burger King fast food restaurant on January 17, 2024 in Burbank, California. Mario Tama | Getty Images Burger King will invest another $300 million to remodel about 1,100 of its U.S. restaurants as part of a broader turnaround effort, the chain’s parent company said Tuesday. Owner Restaurant … Read more
A Coca-Cola building in Zagreb, Croatia, Nov. 8, 2023. Denis Lovrovic | AFP | Getty Images Coca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations. The beverage giant also raised its full-year outlook for organic revenue. Shares of the company rose less than 1% in premarket trading. Here’s what the company reported … Read more
McDonald’s french fries Picture Alliance | Picture Alliance | Getty Images McDonald’s is expected to report its first-quarter earnings before the bell on Tuesday. Here’s what Wall Street analysts surveyed by LSEG are expecting: Earnings per share: $2.72 expected Revenue: $6.16 billion expected The fast-food giant reported disappointing fourth-quarter sales. Boycotts after its Israeli licensee … Read more
A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California. Mario Tama | Getty Images Starbucks and Workers United, which represents roughly 500 of its cafes, … Read more
Beleaguered seafood chain Red Lobster is seeking a buyer as it looks to avoid filing for bankruptcy, CNBC has learned. The company has considered filing for bankruptcy to help it restructure its debt and get out of a number of costly and lengthy leases, but it’s also sought a buyer in recent months, people familiar … Read more
