Starbucks shares plummeted Tuesday evening by roughly 11.5% after the coffee giant delivered a much weaker-than-expected quarter. The company also cut its outlook for fiscal 2024, leaving little room for optimism of a quick rebound in traffic at its stores. Revenue fell 2% year over year to $8.56 billion in the fiscal 2024 second quarter, … Read more
The new restaurant in your neighborhood may look familiar. Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to a new Yelp report. Review site Yelp compiled the list by using a blended metric that includes net new openings, searches on … Read more
A trader wears a t-shirt with Reddit’s logo, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024. Brendan McDermid | Reuters Stock futures slipped on Friday, but the major averages heading for a winning week after two straight days of record-setting gains. Dow Jones Industrial Average futures dipped 30 … Read more
A Portillo’s Beef Bus in Kissimmee, Florida. Source: Portillo’s When Chicago-based Portillo’s enters a new market, it sends its “Beef Bus” ahead of time, slinging its hot dogs and Italian beef sandwiches to new customers for weeks, introducing them to the brand and whetting their appetites before a new restaurant finally opens. Recently, the Beef … Read more
BOLINGBROOK, ILLINOIS – DECEMBER 11: Customers place their orders at CosMc’s, a concept restaurant recently launched by McDonald’s on December 11, 2023 in Bolingbrook, Illinois. Lines to order food and beverages at the drive-thru-only restaurant, which opened to the public late last week, have been as long as 6 hours. (Photo by Scott Olson/Getty Images) … Read more
