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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. Starbucks said bad weather dragged its same-store sales lower. Wingstop , Wall Street's favorite restaurant chain, reported its U.S. same-store sales soared 21.6% in the first quarter. This marks the second consecutive quarter that Burger King reported stronger U.S. same-store sales growth than McDonald's.
Persons: It's, McDonald's, it's, Taco Bell, January's snowstorms, we've, Ian Borden, Wall, International's Popeyes, Chris Kempczinski, Laxman Narasimhan, Narasimhan, David Gibbs, Taco, Yum, Burger, Organizations: Starbucks Workers, D.C, Starbucks, KFC, Yum Brands, Taco, Bureau of Labor Statistics, Taco Bell, Brands Locations: Dupont Circle, Washington, Pizza, U.S, Australia, Canada, Germany, Japan, Taco
Investors have lost their taste for Starbucks stock as the company faces headwinds in key markets across the globe. SBUX .SPX YTD mountain Starbucks' year-to-date stock performance compared with the S & P 500. At this point, the question is whether the possibility of a weak quarter and lowered guidance are already priced into Starbucks' stock. In light of the report, we lowered our price target on Starbucks stock to $115 per share from $125, but maintained our 1 rating. A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023.
Persons: Jeff Marks, Michael Conway, Brady Brewer, Laxman Narasimhan, it's, Rachel Ruggeri, Morgan Stanley, reshuffling, Wells, Jim Cramer's, Jim Cramer, Jim, Kevin Dietsch Organizations: Down, North, Starbucks International, Starbucks, Deutsche Bank, CNBC, Starbucks Workers, D.C, Getty Locations: U.S, China, Israel, North America, America, Europe, Starbucks China, Wells, Starbucks, Dupont Circle, Washington
A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023. The wage increases are a sign of good faith from Starbucks toward Workers United, an affiliate of the Service Employees International Union that has organized more than 300 company-owned Starbucks locations. Starbucks and Workers United said they have agreed to start discussions "on a foundational framework" on how to reach collective bargaining agreements for stores. The announcement marks the most noticeable thawing in the two parties' relationship since the first Starbucks location unionized in December 2021. Starbucks also said Tuesday that it would provide unionized cafes with credit card tipping, a benefit that has been available in nonunion stores for more than a year.
Persons: Howard Schultz, Laxman Narasimhan Organizations: Starbucks Workers, D.C, Workers United, Service Employees International Union, Workers, Starbucks, CNBC PRO Locations: Dupont Circle, Washington
Julian Sarafian is a 29-year-old former White House intern from Sacramento, California. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Julian Sarafian, a 29-year-old former White House intern from Sacramento, California. It's a 10 to 15 minute walk to the White House grounds, and I even walked there on cold and snowy days. It's the side where visitors often gather to take photos of the White House, so it was neat walking in like a VIP. They were accompanied by the White House groundskeeper and were often spotted around the grounds.
Persons: Julian Sarafian, Barack Obama, Joe Biden, , Barack Obama's, Obama, Jason Furman, I'd, It's, wasn't, Sarafian, interning, Sunny, Yang Organizations: White, Service, UC Berkeley, UC Washington Program, of Economic Advisors, FBI, of Economic, of Economic Advisers, DC, UC Washington, Secret, Harvard Law School Locations: Sacramento , California, Washington ,, Dupont, Washington
Caroline Berens had been perfectly happy living alone for a couple of years in Washington, when her younger sister, Emma, announced that she was planning to move to the city. So Ms. Berens didn’t immediately extend an invitation to be roommates in her one-bedroom rental in Dupont Circle. “I’ve always been frugal and have saved money to buy a home since I started babysitting at 12,” Caroline Berens said. Email: thehunt@nytimes.com]“I’m coming from college life, where I lived with three other roommates, so I’m not worried about sharing a home with Caroline,” Emma said. “Plus,” she said, “I was determined to avoid living in a basement.”Both sisters are tall, so Caroline wanted high ceilings.
Persons: Caroline Berens, Emma, Berens didn’t, , haven’t, , Berens, we’ve, ” Emma Berens, “ I’ve, ” Caroline Berens, I’m, Caroline, ” Emma, Adams Morgan, Lucy, “ Caroline, Claudia Ornelas, Ms, Ornelas Organizations: Brunswick Group, Harvard, Locations: Washington, Dupont, Boston
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. The Blaine Mansion, a Gilded-Age home on Dupont Circle in Washington, D.C., is coming on the market for $29.95 million, a potentially record-setting sum for the city.
But on Wednesday, Santos received a warm reception at a DC happy hour for young conservatives. But he was still a star for the Washington, DC Young Republicans, a group that was taken over just a month ago by a cadre of self-described "ultra MAGA" young conservatives who emphatically align themselves with former President Donald Trump. —Washington, D.C. Young Republicans (@WashingtonDCYRs) April 27, 2023"Keep fighting for what you think is best, and for what you believe in," said Santos after speaking for less than 10 minutes. Perhaps owing to his precarious political standing, Santos has yet to break from party leadership on any major votes, contrasting with other New York Republicans who won Democratic-leaning districts last year. Attendees mill around before Rep. Santos' arrival.
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