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☆ Cava shares surge as Mediterranean restaurant chain swings to a profit in first report since IPO
▼ + stars: | 2023-08-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. The Mediterranean restaurant company has a market value of $5.27 billion, as of Tuesday's close. However, Tolivar also said that same-store sales growth has moderated in recent weeks. Cava's menu prices were up nearly 8% compared with the year-ago period, though executives said the restaurant chain has no plans to raise prices further. Looking ahead to 2023, Cava expects to report same-store sales growth for the full year of between 13% and 15%.

Persons: Cava, Tricia Tolivar, Tolivar, Sweetgreen, Brett Schulman Organizations: New York Stock Exchange, CNBC Locations: Cava, New York City

☆ Chick-fil-A to release new riff on its iconic chicken sandwich with pimento cheese, jalapenos
▼ + stars: | 2023-08-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Chick-fil-A is adding a new spin on its iconic chicken sandwich to menus for a limited time. Starting Aug. 28, customers can buy the Honey Pepper Pimento Chicken Sandwich at the chicken chain's restaurants nationwide, while supplies last. But the limited release of the Honey Pepper Pimento Chicken Sandwich shows how the chain is shifting its menu strategy as it expands nationwide. The Honey Pepper Pimento Chicken Sandwich was a project five years in the making, according to Stuart Tracy, Chick-fil-A's principal culinary lead. The chain tested the Honey Pepper Pimento Chicken Sandwich in 2020 in Asheville, North Carolina, and upstate South Carolina.

Persons: Pepper, Truett, Honey Pepper, Stuart Tracy, Chick, Tracy, Tracy didn't, crumbles Organizations: Atlanta - Locations: U.S, Atlanta, Asheville , North Carolina, South Carolina, Salt Lake City

☆ Kraft Heinz picks new CEO as sales slump in the face of higher prices
▼ + stars: | 2023-08-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Kraft Heinz 's North American president will become CEO of the food giant next year, the company announced Monday. Carlos Abrams-Rivera will take the reins Jan. 1 from Miguel Patricio, who has led Kraft Heinz since 2019. Kraft Heinz shares have fallen 15% this year, dragging its market value down to $42.2 billion. "Since joining Kraft Heinz in 2020, [Carlos] has consistently delivered strong results in the North American retail and Away From Home businesses," Patricio said in a statement. Ahead of the CEO transition Jan. 1, Abrams-Rivera will become president of Kraft Heinz, adding new responsibilities to his current role.

Persons: Kraft Heinz, Carlos Abrams, Rivera, Miguel Patricio, Patricio, Oscar Mayer, Maxwell, Abrams, Campbell, Carlos Organizations: Kraft, Cream, North Locations: California

☆ Target is rolling out Starbucks curbside pickup across the country as it looks for sales jolt
▼ + stars: | 2023-08-09 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Target is looking to jolt sales by adding Starbucks drinks and food to its curbside pickup service at stores across the country. The retailer began testing the Starbucks curbside pickup service at some stores in the fall. Target's curbside pickup service, Drive Up, helped fuel the company's e-commerce and sales growth during the Covid-19 pandemic. Yet, according to Target, curbside pickup has led to more business. That explains why Target has added other features and more items to curbside pickup, including beer and wine.

Persons: curbside, Target, Howard Schultz, — CNBC's Amelia Lucas Organizations: Target, Starbucks

☆ Beyond Meat stock slides more than 20% after company reports weak sales, cuts forecast
▼ + stars: | 2023-08-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Beyond Meat's stock fell more than 20% in morning trading Tuesday after the company reported weak sales, cut its full-year revenue forecast and walked back its goal of becoming cash-flow positive in the second half of the year. The company, which makes meat substitutes, has struggled for roughly two years as U.S. consumer interest in its products has waned. However, CEO Ethan Brown told analysts on the company's conference call Monday evening that its weak sales will likely delay its target of becoming cash-flow positive by the second half of 2023. U.S. demand for Beyond's meat alternatives appears to be declining at a faster rate, even as the company cuts its prices 8.6%, mostly through discounts. Beyond also cut its full-year revenue outlook to a range of $360 million to $380 million, compared to the $388 million Wall Street expected, according to Refinitiv.

Persons: Ethan Brown, Brown Organizations: Meat Inc, U.S, Wall Locations: Encinitas , California

☆ Restaurant Brands' sales rise, fueled by Burger King and Tim Hortons growth
▼ + stars: | 2023-08-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Restaurant Brands International on Tuesday reported double-digit same-store sales growth at Burger King and Tim Hortons for its second quarter. Restaurant Brands' same-store sales climbed 9.6% in the quarter, driven by strong growth at Tim Hortons and Burger King. Tim Hortons reported same-store sales growth of 11.4%, topping StreetAccount estimates of 6.5%. Popeyes saw same-store sales growth of 6.3%, topping expectations of 3.5%. Firehouse Subs, the most recent addition to Restaurant Brands' portfolio, reported same-store sales growth of 2.1%.

Persons: Burger King, Tim Hortons, Burger Organizations: Brands, Burger, Refinitiv ., Restaurant Brands, Burger King, Firehouse Locations: United States, U.S

☆ When the Scientific Method Is an Accessory to Murder
▼ + stars: | 2023-08-08 | by ( Maya Phillips | More About Maya Phillips | ) www.nytimes.com time to read: +2 min

LIQUID SNAKES, by Stephen KearseSomeone sound the alarms, bar the labs and give Dr. Fauci a ring — the scientists have gone mad. Not in real life, thankfully, but in “Liquid Snakes,” Stephen Kearse’s new novel, in which two C.D.C. epidemiologists try to track down a man’s home-brewed drug that he plans to wield as a bioweapon for revenge. Clever, pretentious and a bit sociopathic, Kenny is the mad scientist Walter White-ing his way through an unnecessarily involved revenge plot. But unlike Walter, Kenny is awfully dull.

Persons: Stephen Kearse, Fauci, Stephen Kearse’s, epidemiologists, Kenny Bomar, Kenny milks, Kenny, Walter White, Walter, don’t Organizations: Valencia

Pope Francis gestures on the day he meets with aid and charity representatives at "Centro Paroquial de Serafina" during his apostolic journey to Portugal on the occasion of the XXXVII World Youth Day, in Lisbon, Portugal, August 4, 2023. REUTERS/Violeta Santos MouraLISBON, Aug 4 (Reuters) - Pope Francis visited a Church-run social centre in a low-income Lisbon neighbourhood Friday, urging young people to shun "distilled," orderly lives where everything seems perfect but to "get your hands dirty" by helping the needy. "Tangible love is that which gets its hands dirty," he said. The 86-year-old pope is in Lisbon for the Catholic Church's World Day of Youth festival, which ends on Sunday. "Through your actions, your commitment, by getting your hands dirty, by touching the reality and misery of others, you are creating inspiration, you are generating life," he said.

Persons: Pope Francis, Violeta Santos Moura, Vincent de Paul, Francis, Amelia Grantham, Grantham, Philip Pullella, Louise Heavens Organizations: Centro, REUTERS, Violeta Santos Moura LISBON, Catholic, Thomson Locations: Portugal, Lisbon, Serafina, Spain, Italy, Guatemala, Birmingham, England

☆ Taco Bell owner Yum Brands misses revenue estimates despite soaring KFC sales
▼ + stars: | 2023-08-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Yum Brands on Wednesday reported mixed quarterly results as Taco Bell's and Pizza Hut's same-store sales disappointed. Yum Brands' same-store sales grew 9% in the quarter, topping StreetAccount estimates of 6.9%. KFC's system sales in China soared 32%, while its U.S. system sales rose 5%. The pizza chain's domestic same-store sales rose just 1%. Its U.S. same-store sales increased 4%, but its international same-store sales shrank 1% in the quarter.

Persons: Yum Organizations: Brands Inc, Taco, Yum Brands, Refinitiv, U.S Locations: Taco Bell, Kentucky, Louisville , Kentucky, U.S, Russia, China, Taco Bell's

☆ Starbucks beats earnings estimates, but sales disappoint despite China boom
▼ + stars: | 2023-08-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Starbucks on Tuesday reported quarterly earnings that beat analysts' expectations, but its same-store sales missed Wall Street's estimates. The company's same-store sales grew 10%, falling short of StreetAccount estimates of 11%. Same-store sales growth in both North America and its international markets was softer than expected. The coffee giant's North American same-store sales grew 7%, missing estimates of 8.4%. Outside North America, Starbucks' same-store sales increased 24%, falling short of estimates of 24.2%.

Organizations: Starbucks, Refinitiv Locations: Charleroi, Belgium, North America, China

☆ A Summer Spectacle Where Fireflies Are the Guiding Light
▼ + stars: | 2023-07-29 | by ( Amelia Nierenberg | More About Amelia Nierenberg | ) www.nytimes.com time to read: 1 min

New Canaan, a wealthy town in Connecticut, is a town of lawns. Lawns, trim and bug-free, lined with sculpted shrubs. Lawns, like so many lawns across suburban America, sprayed with pesticides each spring, mowed each week of summer and raked free of leaves each fall. But Bill and Mary-Ellen McDonald have taken a different approach. “These fireflies are here, and really only here,” Mr. McDonald, 75, said on a recent Friday evening, the sky fading to lilac.

Persons: Bill, Mary, Ellen McDonald, ” Mr, McDonald Locations: Canaan, Connecticut, America

☆ Procter & Gamble sales rise slightly, fueled by higher prices
▼ + stars: | 2023-07-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

But the company released a gloomy outlook for its fiscal 2024 sales that fell short of Wall Street's estimates. For fiscal 2024, P&G is forecasting that its revenue will grow 3% to 4%, lower than Wall Street's expectations of 4.5% sales growth. For roughly two years, P&G has been raising prices on its products to mitigate higher commodity costs. In fiscal 2024, P&G expects its volume will start increasing again, and prices will only rise 1% to 1.5%. The division, which includes Oral-B and Pepto-Bismol, scared off North American customers with its higher prices, according to P&G.

Persons: Gamble, Andre Schulten Organizations: Procter, Refinitiv, G, Asia Pacific, Gillette Locations: Compton , California, U.S, United States, Europe, Asia, Pacific, China

☆ McDonald's earnings top estimates as mascot Grimace fuels U.S. sales
▼ + stars: | 2023-07-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

McDonald's on Thursday reported quarterly earnings and revenue that topped analysts' expectations as its China sales rebound and mascot Grimace drives U.S. visits. The company's global same-store sales climbed 11.7%, topping StreetAccount estimates of 9.2%. All three of McDonald's divisions reported double-digit growth for same-store sales. In the U.S., its largest market, same-store sales climbed 10.3%. McDonald's also reported that visits to its U.S. locations grew for the fourth consecutive quarter.

Persons: Grimace, Chris Kempczinski, McDonald's Organizations: Refinitiv Locations: San Pablo , California, McDonald's, China, U.S

☆ Sweetgreen shares tumble after salad chain reports weak sales but narrowing losses
▼ + stars: | 2023-07-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Sweetgreen on Thursday reported quarterly sales that fell short of Wall Street's expectations, but narrowing losses. The company reported an adjusted EBITDA of $3.3 million, swinging from a loss of $7.8 million in the year-ago period. For 2023, Sweetgreen now expects restaurant-level margins of 16% to 18%, up from its prior range of 15% to 17%. It also expects adjusted EBITDA in a range of a $10 million loss to breaking even. The company previously said is adjusted EBITDA would be a loss of $13 million to $3 million.

Persons: Jonathan Neman, Sweetgreen Organizations: CNBC Locations: Neman

☆ McDonald's is creating a spinoff restaurant brand called CosMc's
▼ + stars: | 2023-07-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

McDonald's is creating a spinoff restaurant chain called CosMc's, executives said Thursday. "CosMc's is a small format concept with all the DNA of McDonald's, but with its own unique personality," McDonald's CEO Chris Kempczinski said. The name for the new brand comes from CosMc, a McDonaldland mascot who appeared in advertisements in the late 1980s and early 1990s. The brand will revive CosMc after the return of another McDonald's mascot, Grimace, jolted its U.S. business. "This quarter, if I'm being honest, the theme was Grimace," Kempczinski said.

Persons: Chris Kempczinski, McDonald's, CosMc, Grimace, Kempczinski, haven't Organizations: U.S, Boston Locations: CosMc, jolted

☆ ‘And Just Like That …’ Episode 7 Fashion: Aidan’s Return
▼ + stars: | 2023-07-27 | by ( The Styles Desk | ) www.nytimes.com time to read: +1 min

This article contains spoilers for Episode 7 of the second season of “And Just Like That …”He’s back — and he is free for dinner on Valentine’s Day. It seems the man with the ripped T-shirt who loved a cabin upstate has developed a certain polish with age. At the same time, others are also having their own Valentine’s Day celebrations: Miranda (Cynthia Nixon) meets a new love interest in Amelia (Miriam Shor). Nya (Karen Pittman) embraces her single-dom, and Charlotte (Kristin Davis) lands herself in the emergency room after a bad run-in with pot brownies. Ahead of Episode 7, members of The New York Times Styles desk chatted about the dresses, slippers and love letters to New York on display in the latest installment of the series.

Persons: Aidan, John Corbett, ”, Miranda, Cynthia Nixon, Miriam Shor, Nya, Karen Pittman, Kristin Davis, The New York Times Styles Organizations: Charlotte, The New York Times Locations: New York

☆ UK university marking strike leaves thousands of students stuck in limbo
▼ + stars: | 2023-07-27 | by ( Kylie Maclellan | ) www.reuters.com time to read: +6 min

A spokesperson for Britain's Home Office said international students without results can request a letter of confirmation from their sponsor or return to their home country and apply for another student visa. The University of Edinburgh said 27% of final year students had not received their degree at the time of graduation. International students pay much more, providing a vital source of income. Research published by Universities UK International in May found the 2021/22 intake of international students contributed 41.9 billion pounds to the UK economy. "Every year, universities in the UK are depending more and more on the finances of international students," said Hendricks.

Persons: Maja Smiejkowska, Amelia Dias, Dias, Anna Hendricks, Ailsa Watt, Watt, Gillian Keegan, Hendricks, Kylie MacLellan, Jan Harvey Organizations: London College of Communication, University of the Arts London, REUTERS, University of Edinburgh, Colleges Employers Association, University and College Union, National Union of Students, University of Cambridge, University, Scottish, International, British Council, Times Higher, Higher Education Statistics Agency, Universities UK International, Thomson Locations: London, Britain, Edinburgh, British, Florida, Spanish, Shanghai

☆ Chipotle sales rise but fall short of Wall Street's expectations
▼ + stars: | 2023-07-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Chipotle Mexican Grill on Wednesday reported quarterly earnings that crushed expectations, but the burrito chain's sales fell short. The company's same-store sales grew 7.4%, falling shy of StreetAccount estimates of 7.5%. The company reiterated its full-year forecast of same-store sales growth in the mid- to high-single digit range. However, for the third quarter, Chipotle anticipates same-store sales growth in the low- to mid-single digit range. Wall Street is anticipating same-store sales next quarter of 5.9%, according to StreetAccount.

Persons: Chipotle Organizations: Refinitiv, burrito Locations: New York

☆ Coca-Cola says it's done raising prices in the U.S. and Europe this year
▼ + stars: | 2023-07-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

For two years, Coca-Cola has been raising prices on its drinks to combat higher costs. But the company said Wednesday it's done hiking prices this year in developed markets like the U.S. and Europe. Coke's prices were up 10% in the second quarter compared with the year-ago period. Coke plans to keep raising prices in line with inflation in developing markets like Latin America. Coke shares fell less than 1% in morning trading, despite the company raising its full-year outlook and reporting earnings and revenue that topped Wall Streeet estimates.

Persons: Coke, James Quincey, Quincey Organizations: PepsiCo, Pepsi, Quaker Foods, Quaker Foods North America, Lay Locations: U.S, Europe, Latin America, Quaker Foods North, America

☆ Kraft Heinz looks to revive Maxwell House brand with new instant iced latte with foam
▼ + stars: | 2023-07-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

At 131 years old, Maxwell House is no spring chicken, and most of its loyal drinkers aren't either. But Kraft Heinz is looking to revive the coffee brand by appealing to younger consumers with its new iced latte with foam, its first product launch in nearly a decade. Even within the instant coffee segment, Maxwell House ranks third, trailing Nestle's Nescafe and JM Smuckers' Folgers in U.S. market share, according to Euromonitor International data. But with its new Iced Latte with Foam, Maxwell House hopes to bridge that gap and win over new customers. The iced latte with foam is available nationwide at major retailers and on Amazon and comes in three flavors: vanilla, hazelnut and caramel.

Persons: Maxwell, aren't, Kraft Heinz, Nescafe, Smuckers, Dunkin Organizations: Maxwell House, Euromonitor, Starbucks, Maxwell, Kraft Locations: U.S

☆ Coca-Cola raises full-year outlook as earnings beat estimates
▼ + stars: | 2023-07-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Coca-Cola on Wednesday raised its full-year outlook after reporting earnings and revenue that topped estimates. For 2023, Coke now expects comparable earnings per share growth of 5% to 6%, up from its prior forecast of a 4% to 5% rise. The company's three drinks divisions all reported flat growth for the quarter, but there were some bright spots. Coke Zero Sugar's volume rose 5%, thanks to strong demand in North America and Latin America. Ultra-filtered milk brand Fairlife saw strong growth in the U.S. Coke's coffee division also reported volume growth of 5%, fueled by Costa Coffee's performance in the United Kingdom and China.

Persons: Coke, Costa Organizations: Refinitiv, PepsiCo, Worldwide, U.S, Latin America Locations: San Rafael , California, North America, Latin, U.S, United Kingdom, China

The ADA is a federal law requiring employers to make "reasonable accommodations" — adjustments or modifications — for qualified job applicants or employees with a "known disability." How companies can create 'a culture of inclusion'Rob Koch speaks to CNBC on Zoom with ASL interpreter, Amelia Fruehsamer. Yet, employees with disabilities make up a sizeable share of the global workforce, by some estimates. PSEG held a yearlong campaign to try to build empathy and destigmatize what it means to have a disability. After its awareness campaign, PSEG found the percentage of people who identified as disabled in its workplace tripled.

Persons: Rob Koch, Amelia Fruehsamer, Koch, " Koch, Emily Ladau, PSEG, Steven Fleischer, Fleischer Organizations: CNBC, Slalom, Microsoft, Boston Consulting Group Locations: Seattle, Newark , New Jersey

☆ It's Hot Girl Walk versus Hot Girl Walk after TikTok trend-starter says a Florida company is infringing on her trademark
▼ + stars: | 2023-07-22 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

Hot Girl Walk is suing a company formerly known as Hot Girl Walk Miami for copyright infringement. The lawsuit claims that Hot Girl Walk Miami created confusion between the two brands. The Hot Girl Walk trend, which originated on TikTok, encourages four-mile outdoor walks for women. Hot Girl Walk asks that the pair be permanently banned from selling merch with the Hot Girl Walk Miami branding. The company also asks to recoup any profits made by their competitor while selling Hot Girl Walk Miami merchandise.

Persons: Monica Villegas, Lucia Di Tore, Lind, Amelia Lind, Villegas, Di Tore Organizations: Service, Miami, Walk Locations: Miami, Wall, Silicon, Delaware, Florida, Walk Miami

☆ I learned how gross American tipping culture was when I made more money wearing red lipstick as a waitress
▼ + stars: | 2023-07-21 | by ( Fortesa Latifi | ) www.businessinsider.com time to read: +4 min

When she started wearing red lipstick, she said her tips from men significantly increased. She told me that wearing red lipstick when I was working would increase my tips. I'd make significantly more on the nights I wore red lipstick and a cute ponytail with my hair pulled back and curled. The color red is even said to increase appetite and I can't help but think that's part of why the red lipstick theory works so well with female servers. I don't think men are consciously realizing this, but there are all these subtle cues in place.

Persons: Amelia Heppner, might've, Heppner, didn't, I've, he's, — Organizations: Service Locations: Wall, Silicon, San Francisco , California, U.S

☆ I made more money when I wore red lipstick as a waitress — America's tipping culture is gross
▼ + stars: | 2023-07-21 | by ( Fortesa Latifi | ) www.businessinsider.com time to read: +4 min

Persons: Amelia Heppner, might've, Heppner, didn't, I've, he's, — Organizations: Service Locations: Wall, Silicon, San Francisco , California, U.S

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