The McDonald’s logo is displayed at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Subway started phasing out its $5 footlong sandwiches a decade ago. But these days, other fast-food chains have revived the $5 price point, hoping to win over customers who have cut back their spending. … Read more
AI isn’t just a hyped innovation in the tech sector; the food industry is also investing heavily in the red-hot trend. Americans heading to the grocery store or their favorite fast-food restaurant will already have noticed the introduction of the new technology in such services as self-checkout kiosks and even AI ordering in drive-thru lanes. … Read more
The drive-thru menu at a McDonald’s restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. Smith Collection | Gado | Archive Photos | Getty Images Searching for ways to lower labor costs, restaurants are hoping that artificial intelligence can take down drive-thru orders — but it will likely … Read more
McDonald’s is changing course on its artificial intelligence plans. The fast-food giant will end a test run of its AI drive-through technology partnership with IBM in more than 100 restaurants. The so-called Automated Order Taker will be shut off no later than July 26, according to a memo sent to franchisees late last week, obtained … Read more
An exterior view of a Wendy’s fast-food restaurant in Bloomsburg, Pennsylvania, on May 19, 2024. Paul Weaver | SOPA Images | Getty Images Wendy’s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. The deal will include a … Read more
Getty Images (L) | Reuters (R) Forget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles. As fast food gets pricier, the nation’s largest grocer sees a sales opportunity. On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter’s sales growth … Read more
When a company performs well and I interview its CEO on CNBC, I consider the stock’s performance before fashioning my questions. When a chief executive is hitting it out of the park, the interview is going to be easy. My main objective is to find out if the great numbers are sustainable. Is there something … Read more
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
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
