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Search resuls for: "Ricardo Cardenas"


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Restaurants are competing for frugal diners’ dollars
  + stars: | 2024-05-03 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
For some restaurants, it feels like a battle to get them to spend. Olive Garden-parent Darden Restaurants saw same-restaurant sales dip during its most recent quarter. Darden saw sales from households with incomes above $150,000 climb from the prior year. What to expect in Friday’s jobs reportThe US job market has been on a roll for the past three years. That’s about 25,000 more jobs per month than last year and 111,000 more per month than in 2019.
Persons: , Laxman Narasimhan, , we’ve, Ian Borden, Ricardo Cardenas, Scott Sheffield, “ Mr, , Matt Egan, Read, Alicia Wallace, ” Julia Pollak, ZipRecruiter Organizations: CNN Business, Bell, New York CNN, Starbucks, Darden, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, CNN, of Labor Statistics Locations: New York, China, Olive, American, Saudi, Sheffield, Texas, OPEC, Russia
AI tools are enabling some restaurants to get a jump on what customers want — and when. AdvertisementAdvertisementLittle Caesars, Darden Restaurants, and Jack in the Box are each tapping into troves of sales data. "If you forecast your traffic better, you order better, you receive better, you schedule better," Cardenas said. AdvertisementAdvertisementService is also better, Klopfenstein said, since the AI tools enable Little Caesars to hire more easily and train new employees more quickly — a big lift in a tight labor market. If tech isn't easy to use, customers won't come back, Anita Klopfenstein, Little Caesars' chief information officer, said.
Persons: , Jack, Anita Klopfenstein, Danny Meyer, Ricardo Cardenas, Cardenas, Klopfenstein, Mike Glinski, Darin Harris, Harris, they're Organizations: Service, Darden, Little Caesars, Olive Garden, LongHorn, Caesars, Microsoft
New York CNN —Even the unlimited breadsticks at Olive Garden and wooden rocking chairs at Cracker Barrel can’t seem to lure back the baby boomers. Now, some older customers are still staying away, exacerbating a foot traffic problem faced by restaurant chains. Darden Restaurants (DRI), which owns Olive Garden, Longhorn Steakhouse, Cheddar’s Scratch Kitchen and others, noted during an analyst call Thursday that it, too, is seeing declining visits from older customers. The largest of Darden’s franchises by far, Olive Garden is about “more and more and more,” as Cardenas said Thursday. For Cracker Barrel, which has also been trying to attract younger consumers but has traditionally appealed to an older clientele, the pullback from older customers is a bigger deal.
Persons: It’s, , , Sandra Cochran, ” Cochran, Burger, Scott Olson, Raj Vennam, Vennam, Ricardo Cardenas, Darden, ’ ” Cardenas, we’ve, Cardenas, Organizations: New, New York CNN, Darden, Olive Garden, Longhorn Locations: New York, Olive, Orlando , Florida, Lebanon , Tennessee
American price elasticity stretched to the limit
  + stars: | 2023-08-10 | by ( Ben Winck | ) www.reuters.com   time to read: +3 min
WASHINGTON, Aug 10 (Reuters Breakingviews) - The United States may be over the hump on inflation, but consumers aren’t acting like it. Lingering restraint will stretch the power of price elasticity to its limits. Similarly, PepsiCo’s (PEP.O) 14% increase in North American prices of Mountain Dew, Tropicana orange juice and other beverages cost it 4% in quarterly sales. Strong appetites for Oreos and Wheat Thins lifted Mondelez International’s (MDLZ.O) sales 2% in the United States, Canada and Mexico, even as prices climbed 10%. They have climbed 3.5% from a year earlier, surpassing the 3.2% annual increase in the Consumer Price Index.
Persons: Mondelez, Darden, Ricardo Cardenas, Laxman Narasimhan, Marriott, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, of Michigan, U.S . Bureau of Labor Statistics, Capital, Procter & Gamble, Delta Air Lines, United Airlines, Reuters Graphics Reuters, U.S, of Labor Statistics, Thomson Locations: States, Dew, United States, Canada, Mexico, American
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