Tag: Restaurants

Restaurant Brands International said on Tuesday it has bought stakes in Burger King China from its local franchisee for about $158 million, giving it nearly total ownership of the business.

McDonald’s posted a bigger-than-expected drop in fourth-quarter U.S. comparable sales on Monday, as demand took a hit from a brief E.coli outbreak while diners remained watchful of their spending.

A strike at Starbucks will expand to over 300 U.S. stores on Tuesday, with more than 5,000 workers expected to walk off the job before the five-day work stoppage ends later on Christmas Eve, the workers’ union said.

The workers’ union representing over 10,000 baristas at Starbucks said its members will strike at stores in Los Angeles, Chicago, and Seattle for five days starting Friday, citing unresolved issues over wages, staffing and schedules.

Darden Restaurants on Thursday reported quarterly earnings and revenue that met analysts’ expectations and better-than-expected same-store sales growth at Olive Garden and LongHorn Steakhouse.

In the wake of last month’s E. coli outbreak tied to McDonald’s slivered onions, the fast-food giant said it will invest more than $100 million to boost restaurant sales and speed up the recovery at affected franchisees.

Warren Buffett’s Berkshire Hathaway said on Thursday it made new investments in Domino’s Pizza and Pool Corp in the third quarter, even as it retrenched from stocks such as Apple and Bank of America.

Restaurant chain Cava’s stock soared nearly 17% to $169.40 in premarket trading on Wednesday, after it exceeded third-quarter earnings estimates on strong demand for its Mediterranean fare such as pita chips and grilled steak.

Yum Brands on Tuesday reported quarterly earnings and revenue that missed Wall Street’s expectation as same-store sales at KFC and Pizza Hut slid more than expected.

Restaurant Brands International on Tuesday reported quarterly earnings and revenue that missed analysts’ expectations as domestic same-store sales growth for all four of its chains fell short of Wall Street estimates.

Wendy’s is closing 140 restaurants in the coming months, the fast food chain announced this week. But the company said it would open an equal number of new locations in areas it believes can generate better business for Wendy’s.

McDonald’s on Tuesday posted a steeper-than-expected drop in quarterly global comparable sales, hurt by weaker traffic across its key markets even as it intensified promotions to woo back customers after several years of price hikes.

Starbucks on Tuesday posted preliminary quarterly results that showed its sales fell again as the coffee chain tries to execute a turnaround.

Shares in McDonald’s dropped by as much as 10 per cent after US public health authorities linked a fatal E. coli outbreak affecting 10 states with the fast-food chain’s Quarter Pounder hamburgers.

Domino’s Pizza stock rose Thursday despite posting mixed results for the third quarter, and trimmed sales-growth guidance.

Shares of the company rose about 10% in premarket trading despite the results. Excluding Thursday’s gains, the stock has fallen 3% this year as investor concerns about the health of the consumer weigh on the restaurant industry at large.

Starbucks has been on the decline, with shrinking sales as it moved from a traditional sit-down coffee shop into one where people place orders on their phones and grab a drink from the counter. Its new CEO has a plan to fix it all. And it starts with comfortable chairs.

Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue.

McDonald’s has unveiled plans to open more than 200 new restaurants in the United Kingdom and Ireland, which it expects will create over 24,000 jobs.

Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol.