Tag: Restaurants

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.

Activist investor Starboard Value has a stake in Starbucks the Wall Street Journal reported on Friday, adding that it wants the coffee giant to take steps to improve its stock price.

 Restaurant Brands International beat Wall Street expectations for second-quarter revenue on Thursday, benefiting from steady demand at its Tim Hortons coffee outlets even as Burger King stutters in the midst of an overhaul.

Yum Brands on Tuesday reported a mixed quarter as both Pizza Hut and KFC reported declining same-store sales.

Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. And that masked how steep the decline was for Starbucks last quarter: Total transactions at North American stores open at least a year fell 6% in the quarter. That was offset, in part, by higher prices.

McDonald’s on Monday reported quarterly earnings and revenue that missed analysts’ expectations as same-store sales declined across every division.

McDonald’s will extend its $5 value meal in most U.S. markets, saying the deal is helping to boost traffic.