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☆ Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
▼ + stars: | 2024-05-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

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

☆ Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint
▼ + stars: | 2024-05-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as Pizza Hut and KFC struggled to attract customers. Yum's global same-store sales also fell 3% in the quarter, missing StreetAccount estimates of 0.2% same-store sales growth. Across Yum's three largest brands, only Taco Bell reported same-store sales growth. Taco Bell's U.S. locations reported same-store sales growth of 2%, while its international business posted a decline of 2%. Pizza Hut reported same-store sales dropped 7%, as demand lagged both in its home market and internationally.

Persons: Taco Bell, Yum Organizations: Yum Brands, KFC, LSEG Locations: Austin , Texas, Yum's, Mexican, Bell's U.S, U.S, China

☆ Stocks making the biggest moves premarket: Pfizer, CVS, Amazon, Starbucks and more
▼ + stars: | 2024-05-01 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Pfizer — Shares climbed more than 2% after New York City-based Pfizer beat Wall Street's first-quarter revenue forecast and raised its full-year profit guidance. CVS expects adjusted earnings of at least $7 per share for 2024, down from previous guidance of $8.30 per share. Analysts were expecting $8.28 per share, according to LSEG. A second-quarter revenue forecast also surpassed expectations, with Pinterest forecasting sales of $830 million to $850 million vs an LSEG consensus estimate of $827 million. Fiscal third-quarter revenue of $3.85 billion missed the Street's consensus estimate of $3.95 billion, according to LSEG.

Persons: Wall, Marriott, Estée Lauder, Estee Lauder, LSEG –, Kraft Heinz —, Powell, Macheel, Alex Harring, Sarah Min, Michelle Fox Organizations: Pfizer —, New, Pfizer, CVS, Marriott, LSEG, Starbucks, AMD —, AMD, Yum, KFC, Taco Bell, Powell Industries Locations: New York City, LSEG, Houston

☆ Stocks making the biggest moves midday: Super Micro Computer, Starbucks, Pfizer and more
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Super Micro Computer — The server vendor dropped 15% after missing revenue expectations for its fiscal third quarter. However, Super Micro beat analysts' expectations for its adjusted earnings and hiked its revenue guidance for its fiscal 2024 year. Starbucks posted adjusted earnings of 68 cents per share on revenue of $8.56 billion. Pfizer now expects adjusted earnings of $2.15 to $2.35 per share for the full year, higher than its previous forecast of $2.05 to $2.25 per share. Yum Brands — The fast-food giant lost nearly 4% after it reported quarterly adjusted earnings and revenue that missed analysts' expectations.

Persons: Joseph Otting, —, Cowen, Skyworks, SiriusXM, Goldman Sachs, Powell, Estée Lauder —, Estée Lauder, Kraft Heinz, Pinterest's, Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox Organizations: New York Community Bank, Super Micro, Starbucks, Pfizer, Apple, Amazon Web Services, CVS, Powell Industries, Wall, LSEG, Brands, KFC, Pizza, Taco, JPMorgan Locations: Houston, Taco Bell's

Eli Lilly — Shares added 5% after Eli Lilly, maker of the Mounjaro diabetes and weight loss drug, beat analysts' expectations for first-quarter adjusted earnings. PayPal — Shares gained 3.6% after the payment company posted $7.70 billion in first-quarter revenue, beating analysts' estimates for $7.51 billion, according to LSEG. The chipmaker posted adjusted earnings of $3.24 per share, higher than the consensus estimate of $3.16 per share, according to LSEG. Earnings of 24 cents per share on $1.37 billion in revenue exceeded consensus forecasts of 11 cents and $1.36 billion, according to FactSet. Adjusted earnings of 71 cents per share topped anticipated earnings of 65 cents per share.

Persons: Eli Lilly —, Eli Lilly, drugmaker, Jefferies, Tesla, Goldman Sachs, Tenet, Corning, FactSet, Sysco, Medifast, Paccar, Bob Bakish, Skydance, Needham, Macheel, Michelle Fox, Yun Li, Lisa Kailai Han, Pia Singh, Sarah Min Organizations: PayPal —, PayPal, Semiconductor, Tenet, FactSet, Technology, GE Healthcare Technologies, LSEG, Taco Bell, KFC, Paramount Global, CBS, Paramount Locations: Indianapolis, China, LSEG, FactSet, Houston

☆ Young Chinese are trading Shanghai for small cities. Brands like KFC are following them with thousands of stores.
▼ + stars: | 2024-04-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . They're struggling to make it in big cities as the world's second-largest economy suffers from a flailing property market and slow post-pandemic consumption recovery. Going big on smaller citiesChina's smaller cities aren't exactly an untapped market. KFC and Pizza Hut operator Yum China, which plans to add 6,000 stores in China by 2026, is also betting big on small cities. AdvertisementThe cost of living crisis driving young people out of China's big cities is a trend that echoes across continents.

Persons: —, MetroDataTech, They're, Joey Wat, DPC, Canyandata Organizations: Migrants, Service, KFC, Bloomberg, Starbucks, Yum Locations: megacities, Shanghai, Shenzhen, MetroDataTech, China, Beijing, —, Yum China, Local, Fuzhou, Korea, New York City, London

☆ These 10 retail brands are the fastest growing in the U.S., Yelp says
▼ + stars: | 2024-04-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

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. Of the 50 fastest-growing chains in Yelp's report, 35 were restaurant brands. Jack in the Box, First Watch and Dutch Bros were among the public restaurant chains included in the report, but they didn't crack the top 10. Popeyes' higher sales have encouraged franchisees to open more locations and led new operators to join the brand, Restaurant Brands executives have previously said. In 2023, Popeyes surpassed KFC as the second-most popular chicken chain in the U.S. by sales, trailing only Chick-fil-A.

Persons: Jack, Levi Strauss, Cava CAVA, Cava, Zachary Lucy, Scott Olson, Darden, Yum, Stephanie Dhue, Tim Hortons, Burger King, Randy Risling, Popeyes, Michael Siluk, Freddy's, Kyle Rivas, It's, Justin Sullivan Organizations: Dutch Bros, Publicly, Nordstrom, Costco, New York Stock Exchange, Pacific Coast League, Omaha Storm, Memphis Redbirds, AP, LongHorn, Getty, Darden, steakhouse, Parent, Yum Brands, Taco Bell, KFC, East, CNBC, Wawa, Toronto Star, Brands, Restaurant Brands, UCG, Thompson, Capital Partners, Rally House, Kansas City Chiefs, Tampa Bay Buccaneers, Subs Locations: U.S, Cava, Werner, Omaha , Nebraska, Nebraska, Skokie , Illinois, California, West, Wawa, Bethany Beach , Delaware, Philadelphia, It's, Louisiana, Lansing , Kansas, Kansas City , Missouri, Midwest, Pennsylvania, Arizona, Olive, Lincolnwood , Illinois, Jersey, Petaluma , California

☆ I recreated 3 popular fast-food chicken recipes in my air fryer, and one was better than the original
▼ + stars: | 2024-04-08 | by ( Lucien Formichella | ) www.businessinsider.com time to read: +13 min

Dredging the chicken involved dipping it in an egg mixture and the flour mixture. Lucien Formichella for InsiderThe dredging process went well, though I definitely should've made more. It was relaxing to drop the chicken into the flour mixture, then the eggs, then back in the flour. Lucien Formichella for InsiderAfter putting the chicken in the air fryer, I genuinely wondered how the tenders would turn out because Popeyes chicken has such a distinct flavor. I left the second precisely as it came out of the bowl, figuring more of the flour mixture would stick to it.

Persons: —, fryer, I've, Here's, Lucien Formichella, I'm, I'd, fryer beeped, smokey, would've Organizations: Service, Business, KFC —, KFC Locations: Brussels, Louisiana

☆ Here are 5 ways fast-food restaurants in California are cutting costs to cover the new minimum wage
▼ + stars: | 2024-04-03 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Read previewFast-food franchisees in California are desperately looking for ways to cut costs as the state's $20 minimum wage for workers at limited-service restaurants kicks in. Mendelsohn, the El Pollo Loco franchisee, told NPR that her preemptive price increases had already deterred some customers. William Blair analyst Sharon Zackfia expects some restaurants in California to turn to digital kiosks as labor costs rise. Spending less on operationsBeyond labor, restaurants are looking for other ways to save on their operating costs. Alex Johnson, the Auntie Anne's Pretzels and Cinnabon franchisee, told the AP that he wasn't looking at opening any more locations in California.

Persons: —, Michaela Mendelsohn, Alexi Rosenfeld, Alex Johnson, Anne's Pretzels, he'd, Marcus Walberg, Mendelsohn, Brian Hom, Walberg, Sharon Zackfia, William Blair, Grace Dean, Kris Stuebner, Scott Rodrick Organizations: Service, Business, El, Loco, NBC Los Angeles, Associated Press, El Pollo Loco, NPR, Wall Street Journal, CNN, KFC, Management Corporation, ABC, Fox News, AP Locations: California, Los Angeles County, Los Angeles, San Jose

☆ Fast-food chains like Burger King, Shake Shack, and KFC are doubling down on digital order kiosks — but watch out, you'll probably end up spending more
▼ + stars: | 2024-04-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Fast-food giants are rapidly deploying more order kiosks in the US. AdvertisementMajor US fast-food chains plan to aggressively add more digital order kiosks to their restaurants – and bring in bigger checks in the process. They make up "well over" half of its in-restaurant orders at these locations, CFO Katie Fogertey told investors in November. As well as labor savings, kiosk orders "tend to skew to dine-in" and thus use less packaging than other digital orders, she said. In the US, digital orders currently make up just 15% of Burger King's sales.

Persons: Patrick Doyle, —, Burger, Josh Kobza, Shack, Katie Fogertey, Chris Turner, Turner, Sharon Zackfia, William Blair, Fogertey, Grace Dean, Randy Garutti, cashiers, Fogerty, Andy Barish, Jon Tower, Kobza, Zackfia, Barish, Popeyes, Tim Hortons Organizations: Service, Restaurant Brands, Brands, Taco Bell, KFC, Business, Jefferies, Citi, Burger, Firehouse, North Star Locations: Taco, China, London, millennials

☆ A passenger had to sit with an exposed bolt digging into his head for a 7-hour flight because his seat had no headrest
▼ + stars: | 2024-03-27 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +3 min

A British Airways passenger says he had to sit in a seat with no headrest for seven hours. AdvertisementA British man said British Airways left him to sit in a seat with a missing headrest, leaving a one-inch bolt exposed, for a seven-hour flight, UK-based Kennedy News first reported. Last year, it was reported that British Airways was testing out not loading flights with meals for every passenger to avoid food waste. Previous catering issues have meant that one British Airways flight took off on a 12-hour journey without any meals and had to serve passengers KFC. A spokesperson for British Airways told Business Insider: "We are sorry for our customers' experience and have been in touch with them to apologise and resolve the matter."

Persons: headrest, —, Kennedy Organizations: British Airways, Service, Kennedy News, Heathrow Airport, KFC, Business Locations: London, Toronto

☆ Frankenstein restaurants like a Taco Bell-Pizza Hut combo are popping up everywhere
▼ + stars: | 2024-03-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementIn 2008, Hip Hop trio Das Racist caught the attention of the internet with their song "Combination Pizza Hut and Taco Bell." Its most recent dual-branded restaurant opening was in Leon, Mexico, and the company is contemplating opening more in the US, CEO John Peyton said. The 2002 annual report for Yum Brands, the parent company of Pizza Hut, Taco Bell, and KFC, among other restaurant chains, lays out why the much-memed combination Taco Bell-Pizza Hut existed in the first place. In the past, some restaurant brands have put together brands that don't complement each other, said Rob Seely, associate vice president of operations, strategy, and design at WD Partners, which advises restaurant brands. Do you work at a major restaurant like McDonald's, Pizza Hut, or Taco Bell and have a story idea to share?

Persons: —, Bell, It's, John Peyton, Dine, Payton, Peyton, Das, Taco Bell, David Novak, Novak, Yum, Frankenrestaurants, hasn't, Long John Silver, John Silver, Long John Silver's, Rob Seely, Seely, Taco Organizations: Service, Dine Brands, Yum Brands, KFC, Bell, Brands, Darden, Business, WD Partners, Taco Bell Locations: Leon , Mexico, Applebee's, IHOP, Pizza, Taco, Kentucky

☆ Frankenstein restaurants are popping up everywhere, but they aren't actually that successful
▼ + stars: | 2024-03-23 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementIn 2008, Hip Hop trio Das Racist caught the attention of the internet with their song "Combination Pizza Hut and Taco Bell." Its most recent dual-branded restaurant opening was in Leon, Mexico, and the company is contemplating opening more in the US, CEO John Peyton said. Related storiesSo Yum turned to Frankenrestaurants — like the combination Pizza Hut-Taco Bell — to offer a wider variety of options under one roof. Major restaurant brands also frequently change ownership, making it hard to decouple multi-branded locations if a company decides to sell one. In the past, some restaurant brands have put together brands that don't complement each other, said Rob Seely, associate vice president of operations, strategy, and design at WD Partners, which advises restaurant brands.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow American fast food companies won over FranceAmerican fast-food companies are doubling up on the French market as the country's appetite for brands like McDonald's, Five Guys, KFC and Burger King has grown rapidly in the past decade. Between 2013-2023, fast food sales increased 61%, bringing in 19 billion euros in 2023 alone. The multi-cultural French consumer base is increasing drawn to the more convenient and cheap food options. Krispy Kreme and Popeyes are the latest chains to move in, but many others are eyeing expansions, too.

Organizations: France American, KFC, Burger

☆ The French have fallen in love with American fast food. Here's why
▼ + stars: | 2024-03-19 | by ( Natalie Rice | ) www.cnbc.com time to read: +4 min

In France, a land of fine dining, Michelin stars and high standards for cuisine, there's a surprising favorite: American fast food. Expilly oversaw Popeyes' 2023 arrival in France while serving as COO of Popeyes France for French restaurant group Napaqaro. Burger King specifically has gone aggressively after the market "given the propensity for American quick service foods and concepts in France," Charles said. In 2024, McDonald's and Burger King hold more than 40% of the market, according to Euromonitor International, and now consider it their biggest one outside the U.S. French QSRs did take a hit in 2020, but the industry bounced back quickly, earning more profits in 2021 than before the pandemic, according to Euromonitor International.

Persons: Xavier Expilly, EXPM, Expilly, Popeyes, Burger, McDonald's, Andrew Charles, Cowen, Charles, Burger King, Joel Tissier, haven't, Tissier Organizations: Euromonitor, CNBC, Restaurant Brands, Canadian, Mac, Créteil, KFC, Euromonitor International, BK Locations: France, Europe, American, Burger, Paris, United States

☆ Premarket stocks: This investor predicted the dot-com bust. He thinks AI is a bubble that will ‘deflate’
▼ + stars: | 2024-03-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York (CNN) — Is the artificial intelligence boom on Wall Street a bubble primed to burst or the real deal? That’s the question investors have wrestled with since the Magnificent Seven tech stocks began turbocharging a powerful market rally last year. “A new bubble within a bubble like this, even one limited to a handful of stocks, is totally unprecedented,” he wrote in a Monday blog post. “The long-run prospects for the broad US stock market here look as poor as almost any other time in history,” he wrote. Still, the notorious market bear sees some areas of opportunity in the stock market.

Persons: —, Jeremy Grantham, ”, Grantham, Granthan, “, Hanna Ziady, Abu, Adnoc, NewMed Energy’s, Gan, Marc Stewart, Wayne Chang, ByteDance, ” Wang Wenbin, Wang Organizations: CNN Business, Bell, CNN, ” Tech, Monster, Nvidia, Boston, Federal Reserve, ChatGPT, BP, UAE, United Arab Emirates, NewMed Energy, Energy, Starbucks, McDonald’s, KFC, CNN Wednesday Locations: New York, Grantham, Israel, Gaza, Tel Aviv, China, America, American, Beijing

☆ BP and UAE suspend $2 billion gas deal in Israel as Gaza war drags on
▼ + stars: | 2024-03-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —BP and an oil company owned by the United Arab Emirates have shelved talks to buy a 50% stake in Israel’s leading natural gas producer, judging the $2 billion deal too risky as the war in Gaza rages. “There can be no certainty that discussions will resume or that an agreement will be reached in the future, nor as to the terms of an agreement should one be reached,” NewMed Energy said. But the war has strained those ties, and the UAE has repeatedly called for an “immediate ceasefire” in Gaza. Separately, BP was one of six companies awarded licenses by Israel’s energy ministry in October to explore for natural gas off the country’s Mediterranean cost. Last month, they announced a joint venture to develop natural gas assets in Egypt.

Persons: Abu, Adnoc, NewMed Energy’s, Delek Organizations: London CNN, BP, United Arab Emirates, Energy, Starbucks, McDonald’s, KFC, NewMed Energy, Reuters, NewMed, Chevron Locations: Gaza, Tel Aviv, Israel, UAE, Egypt

☆ Starbucks Middle East franchisee to slash over 2,000 jobs as boycotts linked to the Israel-Gaza conflict hit Western brands, says report
▼ + stars: | 2024-03-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. In a statement in December, Starbucks CEO Laxman Narasimhan said protesters had been "influenced by misrepresentation on social media" of what the company stands for. AdvertisementA Starbucks spokesperson told Business Insider: "As Alshaya reviews its business portfolio they have made the difficult decision to eliminate some roles in their Starbucks store portfolio." The layoffs came as Starbucks and other Western brands such as McDonald's and KFC have faced consumer boycotts over the Israel-Gaza war. "So long as this war is going on ... we're not expecting to see any significant improvement (in these markets)," McDonald's CEO Chris Kempczinski said.

Persons: —, Laxman Narasimhan, AlShaya, Narasimhan, we're, Chris Kempczinski, Jack Guez Organizations: Service, Reuters, Palestine, Business, Starbucks, AlShaya, KFC, Getty Locations: East, North Africa, Gaza, Israel, Palestine, Kuwait, Indonesia, Malaysia, France, Sderot, AFP

☆ Applebee’s is shrinking. Its parent company may open joint restaurants with IHOP
▼ + stars: | 2024-03-06 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

Dine Brands Global is considering an Applebee’s and IHOP combination, according to an earnings call on February 28. Dine Brands is the parent company of both restaurant chains. Because of the cost to build an Applebee’s, Dine Brands is “assembling a prototype” for another option. The revenue for the joint restaurants could double that of the standalone restaurants, the company said in the earnings call. Combination locations allowed these restaurants, such as Auntie Anne’s and Cinnabon, to expand past malls and into busier streetside spots.

Persons: New York CNN —, Anne’s, Applebee’s, Paul Weaver, Carvel, Auntie Anne’s, ”, Brian Krause, John Peyton, Peyton Organizations: New, New York CNN, Bell, KFC, Dine, Dine Brands, AP, Focus Brands, Brands Locations: New York, Susquehanna, Selinsgrove , Pennsylvania, Cinnabon, Leon , Mexico, Mexico

☆ Starbucks is laying off thousands of workers in the Middle East in response to Gaza boycotts
▼ + stars: | 2024-03-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Starbucks’ Middle East franchisee, Alshaya Group, is cutting thousands of jobs at its coffee shops because of a “challenging” work environment as the chain grapples with boycotts over the brand relating to Israel’s war against Hamas in Gaza. Kuwait-based Alshaya has owned rights to operate Starbucks in the Middle East for more than 25 years and operates around 1,300 locations across the region, employing about 11,000 people. Starbucks’ most recent earnings report missed expectations, partially because of weaker sales in the region. Starbucks isn’t alone: McDonald’s said last month that it’s experiencing “meaningful business impact” in the Middle East because of the war. Brands, which owns KFC and Pizza Hut, said its chains’ “sales were impacted by the conflict in the Middle East region with varying degrees of impact,” which dented same-store sales growth in several countries.

Persons: Alshaya, “, ”, McDonald’s Organizations: New, New York CNN, Starbucks, East, Alshaya, CNN, Reuters, Alshaya Group, Brands Locations: New York, Gaza, East, Northern Africa, Kuwait, Western

☆ Premarket stocks: Revolution or market bubble? Investors weigh the AI boom
▼ + stars: | 2024-02-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —What’s the difference between a revolution and a market bubble? Thanks to strong performances in stocks and bonds in 2023, coupled with steady savings rates and employer-provided matching contributions, 401(k) investors ended 2023 very much in the black, reports my colleague Jeanne Sahadi. That’s according to new fourth-quarter data from Fidelity Investments, one of the largest providers of workplace retirement plans that cover 23 million 401(k) participants. The troubled plant-based meat company, which has partnerships with McDonald’s and KFC owner Yum! On a Tuesday call with Beyond Meat’s investors, Brown outlined a set of initiatives intended to rightsize the struggling company.

Persons: New York CNN —, ’, Jamie Dimon, Dimon, ”, Torsten Slok, Yung, Yu Ma, “, Jeanne Sahadi, Gen Xers, Fidelity, Samantha Delouya, Ethan Brown, Brown Organizations: CNN Business, Bell, New York CNN, Nvidia, AMD, Taiwan Semiconductor Manufacturing, Apple, Microsoft, Amazon, Google, JPMorgan, CNBC, Apollo Global Management, Federal Reserve, BMO Wealth Management, Big, Norges Bank Investment Management, Legal, General, AFL, US Securities and Exchange Commission, Lawyers, SEC, Fidelity, Fidelity Investments, McDonald’s, KFC, Brands Locations: New York, California, “

☆ Beyond Meat’s stock surges after CEO promises to steeply cut costs in 2024
▼ + stars: | 2024-02-27 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

The troubled plant-based meat company, which has partnerships with McDonald’s and KFC owner Yum! “Our 2024 plan includes taking steps to steeply reduce operating expense and cash use,” Beyond Meat CEO Ethan Brown said in a statement. On a Tuesday call with Beyond Meat’s investors, Brown outlined a set of initiatives intended to rightsize the struggling company. Brown said the company would cut at least $70 million from Beyond Meat’s operating budget in 2024. The company also reported its full-year 2023 financial results Tuesday, reporting a net loss of $338.1 million for the year.

Persons: Ethan Brown, Brown Organizations: CNN, McDonald’s, KFC, Brands

☆ I've lived in 7 different countries. Here are 11 things that surprised me about living all around the world.
▼ + stars: | 2024-02-26 | by ( Nasha Smith | ) www.businessinsider.com time to read: +9 min

Since then, I've lived in places like Wales, the Czech Republic, Spain, Italy, and Greece. But I loved immersing myself in new cultures, forming close friendships, and discovering new delicacies in every possible city. I felt knowledgeable about my destinations from my education, books, and television, but you never truly know a country until you've lived like a local. Here are 11 things that surprised me during my travels. AdvertisementLiving in Spain can require a lot of paperworkSome parts of Spain still embrace the tradition of siesta.

Persons: —, Lucia, I've, you've, Shutterstock There's, Lucian, Nasha Smith, haven't, St, Nasha Smith Kentucky Fried Organizations: Service, Business, siesta, KFC, Barbados, Rihanna Locations: St, Wales, Czech Republic, Spain, Italy, Greece, Prague, Crocetta del, Venice, Bologna, Texas, New York, Kansas , Mississippi, Tennessee, Europe, Caribbean, Olympia, Skafidia, Barcelona, Llobregat, Barcelona's, Nasha Smith Kentucky, Asia, New Zealand, Detroit , Louisiana, Central Europe, Czech

☆ Unilever’s sales decline in Indonesia because of anti-Israel boycotts
▼ + stars: | 2024-02-09 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Unilever is the latest company to report a rough fourth quarter because of boycotts against the company over the war in the Middle East. The company, which makes Vaseline, Dove soaps, Rexona deodorant and other household staples, said that sales declined 15% in Indonesia in the last three months of last year. “In Indonesia, we saw double-digit sales decline in the fourth quarter as sales of several multinational companies were impacted by geopolitically focused consumer-facing campaigns,” said Unilever CEO Hein Schumacher in a call Thursday. Other companies made similar statements recently about boycotts in overseas countries. Brands, which owns KFC and Pizza Hut, said its chains’ “sales were impacted by the conflict in the Middle East region with varying degrees of impact,” which dented same-store sales growth in several countries.

Persons: deodorant, ”, Hein Schumacher, McDonald’s Organizations: New, New York CNN, Unilever, Consumers, Brands Locations: New York, Indonesia, Western, Gaza, “

☆ Taco Bell says that low-income customers are still flocking to its restaurants even as other fast-food chains say they're struggling to hold on to them
▼ + stars: | 2024-02-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewTaco Bell says that it is still performing well among low-income customers even as other fast-food chains say they're struggling to keep hold of this demographic. Brands, said that the taco and burrito chain's restaurants in low-income trade areas in the US had outperformed the rest of the business. Diners shouldn't expect Taco Bell to raise menu prices as much in 2024, he said. Record numbers of Taco Bell customers ordered digitallyThough Yum! Taco Bell had more than 8,500 restaurants globally by the end of 2023.

Persons: —, Bell, David Gibbs, Gibbs, Taco, it's, McDonald's, Chris Kempczinski, Taco Bell Organizations: Service, Brands, taco, Business, Taco Bell, Bell, KFC, Taco Locations: Bell's, Taco Bell's

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