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☆ Chipotle tests a robot to speed up guacamole production
▼ + stars: | 2023-07-13 | by ( Ellie Stevens | ) edition.cnn.com time to read: +3 min

CNN —Your Chipotle guacamole may soon be prepared by a robot. Meet “Autocado,” a Chipotle robot designed to perform the more tedious tasks of creating the chain’s guacamole, including cutting, coring and peeling avocados. But Chipotle (CMG) said this “collaborative robot” will not eliminate jobs, but, instead, employees will work with the robot to speed up guacamole production. For its design, Chipotle partnered with Vebu Labs, a robotics startup in California, to analyze the preparation process at various Chipotle restaurants and identify the most time-consuming tasks for employees. And Chipotle is already testing “Chippy,” a robotic kitchen assistant that uses artificial intelligence to make tortilla chips to dip in Autocado’s guacamole.

Persons: “ Autocado, Chipotle, Curt Garner, ”, Patrick T Organizations: CNN, Technology, Grill Inc, Fallon, Bloomberg, Getty, ., Vebu Labs Locations: El Segundo , California, U.S, California, Vebu, guacamole

☆ Restaurant Brands beats quarterly estimates on higher pricing, traffic
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

May 2 (Reuters) - Restaurant Brands International Inc (QSR.TO) beat Wall Street estimates for first-quarter revenue and profit on Tuesday, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains. Restaurant Brands' Burger King chain has been able to attract younger customers to its restaurants through a newly released viral "Whopper Whopper" jingle. Restaurant Brands in February named its chief operating officer, Joshua Kobza, as CEO in a turnaround plan for its struggling Burger King brand. According to location analytics firm Placer.ai, Burger King saw positive week-over-week visit growth for the majority of weeks since January 2023. Excluding items, Restaurant Brands earned 75 cents per share, compared with estimates of 64 cents, according to Refinitiv IBES data.

☆ Domino's Pizza beats quarterly sales estimates on price hikes, steady demand
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - Domino's Pizza Inc (DPZ.N) beat Wall Street estimates for first-quarter U.S. same-store sales on Thursday, boosted by higher prices as well as new promotional offers and menu items that helped draw more customers. Analysts have said the company's new menu item "Loaded Tots" that serves oven-baked potato tots with cheese and toppings in three varieties has helped boost sales during the January-March period. The world's largest pizza chain's U.S. same-store sales rose 3.6% in the first quarter, compared with analysts' estimate of a 1.96% increase, according to Refinitiv data. However, total revenue rose 1.3% to $1.02 billion but missed analysts' estimate of $1.04 billion hurt by a strong dollar. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

NEW YORK, April 26 (Reuters) - Shares of Chipotle Mexican Grill Inc (CMG.N) soared to a record high on Wednesday after the burrito chain beat analysts' estimates for first-quarter profit and sales. Chipotle said its revenue rose 17% year-on-year to $2.4 billion, driven by higher restaurant sales, 41 new store openings, and increased demand from lower-income customers. Net income rose to $291.6 million, up 84% from the previous year, helped by lower avocado prices and lower delivery expenses. Chipotle's shares rose 14% to $2,030 in afternoon trading. More than a dozen Wall Street analysts hiked their price targets on the stock in reaction to the company's report.

April 25 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped Wall Street expectations for first-quarter profits and sales on Tuesday, helped by higher menu prices, 41 new restaurant openings and some recovery among lower-income customers. The company said it expects second quarter and full year comparable sales growth in the mid-to-high single digits. Even with inflation squeezing household budgets, restaurant chains are expected to post higher sales growth in the first quarter. Comparable sales at California-based Chipotle jumped about 11% in the first quarter, while analysts on average expected an 8.6% rise, according to Refinitiv data. Inflation in the second half is "really a wild card," Chief Financial Officer Jack Hartung said on the earnings call.

NEW YORK, April 18 (Reuters) - Burger King is banking on its viral "Whopper Whopper" jingle to lift sales as part of the flagging fast-food chain's turnaround plan, as broader economic uncertainty pushed two big franchisees into bankruptcy. "I'm optimistic about the trajectory of sales in 2023," said U.S. and Canada Burger King president Tom Curtis in an interview, adding that the jingle's fervent success was "unanticipated." Unlike other fast-food chains like Subway that are consolidating restaurant ownership among fewer franchisees, Burger King is expanding the number of owners in its system. This year, two large U.S. Burger King franchisees that run more than 200 locations across at least 10 states have filed for bankruptcy, citing poor sales atop surging costs for labor and goods. "We don't want to diminish the importance of this crisis, but we also will leverage it to bring in new operators," Curtis said.

April 5 (Reuters) - Chipotle Mexican Grill Inc sued fast-casual dining rival Sweetgreen Inc in California federal court Tuesday, claiming the salad chain's new "Chipotle Chicken Burrito Bowl" violates its trademark rights. Chipotle's lawsuit said Sweetgreen's "very similar and directly competitive" bowl is an attempt to capitalize on the Chipotle brand and likely to confuse consumers. Chipotle said it suggested changing the name to something that uses "chipotle in lower-case, in a textual sentence, to accurately describe ingredients of its menu item," like a "chicken bowl with chipotle." Chipotle asked the court for an order blocking Sweetgreen from using the "Chipotle" name and an unspecified amount of money damages. The case is Chipotle Mexican Grill Inc v. Sweetgreen Inc, U.S. District Court for the Southern District of California, No.

Feb 7 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) missed quarterly comparable sales and profit expectations on Tuesday, as customers pulled back on expensive delivery orders and traffic stalled in December. Comparable sales at California-based Chipotle rose 5.6% in the fourth quarter ended Dec. 31, while analysts on average expected a 7.1% rise, according to Refinitiv IBES. Visits to Chipotle restaurants fell 10.2% in the fourth quarter, according to data from Placer.ai. Delivery transactions also tumbled 15% as in-store orders surged, and Chipotle restaurants "didn't see that pop" that they normally get in December around the holidays, Chief Financial Officer Jack Hartung said on the call. We think inflation will be reasonably tame," Hartung said, adding that the company had not yet decided whether to raise menu prices further in 2023.

☆ Chipotle misses quarterly sales estimates as traffic stalls
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) missed quarterly comparable sales expectations on Tuesday, in a sign that price hikes are taking a toll on demand for the restaurant's burritos and rice bowls. Visits to Chipotle restaurants fell 10.2% in the fourth quarter, according to data from Placer.ai. Comparable sales at the California-based chain rose 5.6% in the fourth quarter ended Dec. 31, while analysts on average expected a 7.1% rise, according to Refinitiv IBES. Revenue rose to $2.18 billion from $1.96 billion in the quarter, missing estimates of $2.23 billion. Some investors are worried about the cadence of falling traffic in 2022, analysts at Cowen said in a research note.

☆ Chipotle Profit Hit by Higher Labor Costs
▼ + stars: | 2023-02-07 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Chipotle plans to add another 255 to 285 locations in 2023 to its nearly 3,200 total restaurants. Chipotle Mexican Grill Inc. said that higher costs associated with labor cut into its profit in its most recent quarter, while sales were depressed during the holidays. The burrito chain said Tuesday that staff sick pay and medical expenses contributed to elevated costs during its fourth quarter. The company reported per-share earnings adjusted for one-time items of $8.29 for the period that ended Dec. 31, below analysts’ expectations of $8.91 per share, according to FactSet.

☆ Futures inch higher ahead of Powell speech
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures: S&P up 0.13%, Nasdaq up 0.27%, Dow flatFeb 7 (Reuters) - U.S. stock index futures edged higher on Tuesday, ahead of a speech by Federal Reserve Chair Jerome Powell later in the day that will be parsed for further clues on how long the central bank will keep interest rates higher. Nasdaq 100 e-minis rose the most among futures tracking Wall Street's three main indexes. Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. So far, 254 companies on the S&P 500 have reported quarterly earnings, with 69.3% of them beating expectations, according to Refinitiv. ET, Dow e-minis were up 4 points, or 0.01%, S&P 500 e-minis were up 5.25 points, or 0.13%, and Nasdaq 100 e-minis were up 34 points, or 0.27%.

☆ Disney, Pepsi, Uber Set to Report During Lackluster Earnings Season
▼ + stars: | 2023-02-04 | by ( Dia Gill | ) www.wsj.com time to read: 1 min

PepsiCo Inc., Uber Technologies Inc. and Walt Disney Co. are among the companies slated to report earnings in the coming week, during an earnings season marked by cooling demand and throttled profits. Investors will also hear from the food makers Kellogg Co. and Tyson Foods Inc., the healthcare companies CVS Health Corp. and AbbVie Inc., as well as the private-equity firms KKR & Co. and Apollo Global Management Inc. Other companies reporting earnings include PayPal Holdings Inc., S&P Global Inc. and Chipotle Mexican Grill Inc.

☆ Americans Are Gobbling Up Takeout Food. Restaurants Bet That Won’t Change.
▼ + stars: | 2023-01-28 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

McDonald’s Corp. has a new restaurant outside Fort Worth, Texas, with no tables or seats for customers and a conveyor belt that routes food to drivers who order ahead. Chipotle Mexican Grill Inc. also offers no place for customers to sit inside an Ohio restaurant that only takes digital orders. Taco Bell is evaluating a new design that features four drive-through lanes, double the typical two. America’s biggest restaurant companies made a bet during the pandemic that you would rather eat the food cooked on their premises someplace else. Now they are gambling you will want to do so for years to come.

☆ Chipotle Seeks 15,000 Workers to Help Staff ‘Burrito Season’
▼ + stars: | 2023-01-27 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

Chipotle Mexican Grill Inc. says it plans to hire 15,000 people in the U.S. as it opens more restaurants and tries to keep up with an expected increase in orders in coming months. March, April and May are the busiest months at the fast-food chain, according to the company, which has dubbed it “burrito season.” A spokeswoman said better weather and more daylight bring people to its locations. Its restaurants near colleges do more business when classes are in session as well, she said. The company also sought 15,000 workers a year ago.

☆ Conagra CFO Doesn’t See Need for Big Price Increases in Near Term
▼ + stars: | 2023-01-13 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +4 min

Photo: Conagra Brands“We won’t have any more significant price increases unless our cost, our inflation estimate, starts to go back up,” Mr. Marberger said. The reading comes amid moderating price increases after a peak of 9.1% in June. I never, ever remember that kind of a price increase,” Mr. Marberger said. “They are now turning the corner and from here are going to need less rapid price increases, unless some other price shocks occur.”Conagra’s sales volumes fell 8.4% for the quarter ended Nov. 27 as customers responded to the price increases, the company said. “And that plays well for us.”Overall, Conagra’s customers—which include retailers Walmart Inc. and Kroger Co. —have accepted the price increases, Mr. Marberger said.

☆ CFOs Ponder Their Pricing Power as the Economy Cools
▼ + stars: | 2023-01-09 | by ( Jennifer Williams-Alvarez | Dean Seal | ) www.wsj.com time to read: +7 min

After a year of significant price increases, companies are trying to figure out how far they can go in 2023. However, pricing experts said, consumers and businesses will likely pull back on discretionary spending and will be less tolerant of price increases as they become mindful of their budgets. The Katy, Texas-based retailer takes an item-by-item approach to price increases. Customers haven’t balked at higher price tags, Ms. Huber said in late October. Still, the company said the aggressive price hikes in 2022 haven’t yet had a significant impact on consumers’ behavior.

☆ McDonald's to boost restaurant growth, streamline some programs
▼ + stars: | 2023-01-06 | by ( Hilary Russ | ) www.reuters.com time to read: +2 min

McDonald's beat sales and profit estimates in its last quarterly earnings results in October, helped by higher menu prices and increased foot traffic from inflation-weary customers looking for value meals. Its global same-store sales increased 9.5% in the third quarter. read moreLike other fast-food chains, McDonald's has hiked menu prices to keep up with surging commodity and labor costs. McDonald's strong sales and profits also mean that it - like several other restaurant chains including Starbucks Corp (SBUX.O) and Chipotle Mexican Grill Inc (CMG.N) - can embark on big expansion plans. It now also plans to streamline technology - including its loyalty programs - and menu development in order to get new products into use globally more quickly.

☆ This is how Waffle House stays open during storms — including using a natural disaster playbook, emergency teams, and limited menus
▼ + stars: | 2022-12-23 | by ( Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

Waffle House keeps its nearly 2,000 locations open 24/7, even through many natural disasters. Waffle House takes natural disaster preparation so seriously that it's become an unofficial metric to measure the severity of storms for the Federal Emergency Management Agency, known as the "Waffle House Index." "If you get there and the Waffle House is closed? Every location is armed with a "Waffle House storm playbook" that has protocol for keeping the restaurant running in an emergency, including if electricity and running water are unavailable, Waffle House Director of External Affairs Pat Warner told NPR. The company shifts to a grill-only menu during natural disasters, Waffle House said.

☆ New Tax on Buybacks Is Weeks Away, but Finance Chiefs Aren’t Too Worried
▼ + stars: | 2022-12-09 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

A new corporate tax on stock buybacks hasn’t worried finance chiefs enough for them to rethink their strategy. For Bolingbrook, Ill.-based Ulta Beauty Inc., a maker of beauty products, the impact of the tax will be minimal, finance chief Scott Settersten said. The company’s board in March authorized a new buyback program that enables Ulta Beauty to repurchase up to $2 billion in shares. It is set to be levied on net buybacks, meaning total shares repurchased minus new shares issued during the year. SHARE YOUR THOUGHTS How will the new tax on stock buybacks affect company repurchase plans in the years ahead?

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☆ How Elon Musk’s Twitter Faces Mountain of Debt, Falling Revenue and Surging Costs
▼ + stars: | 2022-11-21 | by ( Mark Maurer | ) www.wsj.com time to read: +10 min

Elon Musk says his $44 billion Twitter takeover might result in a bankruptcy filing. To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s future. What’s more, the company’s debt stack now includes floating-rate debt, meaning that interest costs are set to rise as the Federal Reserve continues to increase interest rates. Twitter’s credit ratings, which were below investment grade before the transaction with Mr. Musk, have deteriorated further. For that, Mr. Musk would need to persuade potential investors that he has a viable long-term business plan, he said.

Nov 3 (Reuters) - Starbucks Corp (SBUX.O) topped Wall Street estimates for quarterly comparable sales and profits on Thursday, saying it will weather any coming recession by selling customized cold drinks through its rewards app to grow its ranks of younger, wealthier customers. Even so, wealthier people keep buying pricier food and drinks from Starbucks and Chipotle Mexican Grill Inc (CMG.N). Some analysts and investors have questioned how Starbucks can meet its global sales guidance of 7% to 9% growth for 2023, especially amid worsening economic conditions. Wall Street analysts expected Starbucks' comparable sales in China to drop by 20%, according to analysts at Gordon Haskett. read moreGlobal comparable sales at Starbucks rose 7% in the fourth quarter ended Oct. 2, while analysts on average had expected a 4.2% rise.

☆ McDonald's beats sales estimates on boost from pricier menu
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 27 (Reuters) - McDonald's Corp (MCD.N) beat quarterly comparable sales estimates on Thursday, helped by higher menu prices and an increase in restaurant traffic from inflation-weary customers looking for value meals. Chipotle Mexican Grill Inc (CMG.N) on Tuesday also beat quarterly sales and profit estimates as it passed on higher prices to customers. Comparable sales for McDonald's in the United States, the company's biggest market, rose 6.1% in the reported quarter helped by higher prices. Analysts have noted that an easing in gas prices also boosted third-quarter restaurant sales in the United States in general after a slowdown in June. That still beat estimates of $5.69 billion.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. A strong dollar has hurt the overseas profits of large firms, while soaring inflation has prompted interest rate hikes and companies to raise product prices, even as consumers have been forced to cut spending. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Last week, its smaller rival Snap Inc (SNAP.N) forecast no revenue growth for the holiday quarter, setting off warning bells in the social media industry. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Microsoft fell 2% and chipmaker Texas Instruments , which forecast quarterly revenue and profit below estimates, was down 5%. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%. "During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said TI boss Rich Templeton.

☆ Chipotle beats quarterly sales estimates on steady demand
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/3] The logo of Chipotle is seen on one of their restaurants in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew KellyOct 25 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) on Tuesday reported quarterly higher sales that topped Wall Street expectations, as higher menu prices did not dissuade the restaurant's affluent customers from digging into its burritos and rice bowls. Comparable sales at the California-based chain jumped 7.6% in the third quarter ended Sept. 30, while analysts on average had expected a 7.3% rise, according to Refinitiv IBES. Shares of the company rose 1% in extended trading. Shares of the company rose about 4% in extended trading, as its restaurant level margin also rose to 25.3% from 23.5% a year earlier.

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