Birria burrito surrounded by birria tacos, birria munchwrap, birria loaded fries and birria consommé at Little Miner Taco in North Bethesda, Maryland. Laura Chase de Formigny | The Washington Post | Getty Images Birria, which was once known as a regional Mexican food, has taken on a life of its own in the U.S., becoming … Read more
Brian Niccol steps in as CEO of Starbucks on Monday, taking over as the coffee giant’s sales slump and stock price falls. Starbucks tapped Niccol in August to take over from Laxman Narasimhan, who held the position since March 2023. Niccol had served as chief executive of Chipotle Mexican Grill since 2018, turning around the … Read more
Beyond Meat in El Segundo, California, on May 30, 2024. Christina House | Los Angeles Times | Getty Images Beyond Meat will introduce a whole-muscle steak alternative as part of its pivot to win over health-conscious consumers. CEO Ethan Brown said on Wednesday that the rollout will likely include a partnership with a restaurant chain … Read more
With fast-food customers revolting over higher prices, chains like McDonald’s, Burger King and Wendy’s are bringing back the value meal. Nearly 80% of Americans said they feel fast food has become a luxury and are eating out less, according to a LendingTree survey. To try to lure them back, fast-food chains have been touting their … Read more
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decades-long Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job … Read more
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump, sending its stock soaring more than 20%. Chipotle’s stock fell 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks … Read more
A sign advertises meal deals at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Restaurant CEOs have become obsessed with the word “value” in explaining to investors why their sales lagged this quarter while sharing plans to revive traffic in the coming months. On McDonald’s quarterly conference call … Read more
While Wall Street may still be rattled after Monday’s massive sell-off, CNBC’s Jim Cramer said many of Tuesday’s corporate earnings reports do not indicate there is a serious recession on the horizon. “I think we’re in a recessionless recession because I follow the actual micro data from individual companies that report,” he said. “When you … Read more
A sign is posted in front of a Taco Bell restaurant on May 01, 2024 in Richmond, California. Justin Sullivan | Getty Images Yum Brands on Tuesday reported revenue that fell short of expectations as both Pizza Hut and KFC reported declining same-store sales. Shares of the company rose less than 1% in premarket trading. … Read more
Gastonia, North Carolina, Taco Bell Mexican fast food restaurant and drive thru at dusk. Jeff Greenberg | Universal Images Group | Getty Images Yum Brands hopes to use artificial intelligence to take down drive-thru orders at hundreds of Taco Bell restaurants by the end of this year. The restaurant company announced on Wednesday that it’s … Read more
