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☆ Starbucks CEO says he'll work a shift at the company's cafes once a month
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Starbucks CEO Laxman Narasimhan told employees Thursday that he'll work a half day every month at one of the coffee giant's locations. Narasimhan took the helm on Monday and will lead the company's shareholder meeting Thursday. His pledge comes at a rocky time for the company's relationship with its baristas. As of Friday, more than 190 company-owned Starbucks locations have voted to unionize, according to National Labor Relations Board data. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Durex.

☆ Olive Garden parent raises revenue outlook as same-store sales jump
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden CEO Rick Cardenas credited the quarter's strong sales growth to its strategy of pricing below inflation. Net sales rose 13.8% to $2.79 billion, fueled by same-store sales growth of 11.7% across all of its brands, which include chains like Olive Garden, LongHorn Steakhouse and The Capital Grille. Wall Street was expecting same-store sales to increase just 9.1%, according to StreetAccount estimates. Olive Garden, which accounted for nearly half of Darden's quarterly revenue, reported same-store sales growth of 12.3%. And its fine-dining business, which includes The Capital Grille, reported same-store sales growth of 11.7%.

☆ Starbucks shareholders to vote on proposals for labor probe, succession planning
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Shareholder votes aren't binding, so the board can reject proposals even if a majority of investors vote in favor. More than 190 company-owned Starbucks locations have voted to unionize under Starbucks Workers United, according to National Labor Relations Board data as of Friday. Members of a recently formed union of Starbucks workers hold a rally to celebrate the first anniversary of their founding, December 9, 2022 in New York City. Apple, unlike Starbucks, agreed to perform the assessment without waiting for a shareholder vote. But Trillium has more than two decades of experience putting shareholder proposals before Starbucks' board.

☆ Starbucks is bringing olive oil-infused coffee to a few locations in the U.S. this week
▼ + stars: | 2023-03-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

After launching olive oil-infused coffee in Italy, Starbucks is bringing its Oleato line stateside, starting Thursday. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. The initial Oleato lineup of drinks infuses olive oil into Starbucks' Caffé Latte, Iced Shaken Espresso and cold foam. CNN Business said the olive oil "felt like too much," while the New Yorker said the drink "tasted like a large spoonful of olive oil in coffee." The coffee giant plans to bring the Oleato drinks to Japan, the Middle East and the United Kingdom later this year.

☆ Panera Bread tests Amazon's palm-scanning technology in St. Louis
▼ + stars: | 2023-03-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A sign is posted on the exterior of a Panera Bread restaurant on November 09, 2021 in Novato, California. Panera Bread is piloting Amazon's palm-scanning technology in St. Louis to offer customers a faster way to connect to their loyalty program and pay. The bakery-cafe chain, which has long been considered a leader in restaurant technology, is the latest restaurant to use what the tech giant has dubbed Amazon One. Panera has more than 2,000 locations and its loyalty program has more than 52 million members, representing a big expansion opportunity for Amazon One. To use them, customers need to link their loyalty program accounts to Amazon One, which they can do at home or inside the restaurant.

☆ New Starbucks CEO Laxman Narasimhan takes over nearly two weeks earlier than expected
▼ + stars: | 2023-03-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks on Monday said that Laxman Narasimhan has officially become CEO, nearly two weeks earlier than expected. After being named incoming CEO in September, Narasimhan has spent months learning about Starbucks' business, including training as a barista. Schultz returned nearly a year ago after former CEO Kevin Johnson surprised investors by announcing his retirement. Since Schultz returned April 4, Starbucks stock has risen nearly 8%, bringing its market value to $113 billion. In September, Schultz told CNBC that he's never planning on coming back as Starbucks' chief executive again.

[1/5] Locals in the Chiradzulu district look at the damage on a road after mudslides and rockfalls in the area caused by the aftermath of Cyclone Freddy in Blantyre, Malawi, March 15, 2023. Most people heeded the warnings, knowing from bitter experience the damage such storms could inflict: 600 people had died in Cyclone Idai in 2019. The storm was far more deadly in neighbouring Malawi, where at least 447 were killed as Freddy tore through the country's southern tip and inundated the main commercial hub of Blantyre. Mozambique and Malawi are among the poorest 8% of countries in the world, according to United Nations data. In the case of Freddy, this extra energy allowed the storm to pick up strength again and circle back to strike again.

☆ Kellogg's snacking unit, which includes Cheez-It and Pringles, gets a new name: Kellanova
▼ + stars: | 2023-03-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Kellogg brand Cheez-it crackers arranged at a supermarket in Dobbs Ferry, New York, US, on Wednesday, June 22, 2022. Kellogg Co. said it will split into three independent companies, sparking a rally in the food conglomerates shares. Kellogg on Wednesday revealed it will name its snacking unit Kellanova as part of its plan to separate into two independent public companies. Kellanova, which will include brands like Pringles and Cheez-Its, will retain the "K" stock ticker currently used by the food giant. The North American cereal unit will be renamed WK Kellogg Co.

☆ Tyson Foods to lay off 1,700 workers, close two chicken plants
▼ + stars: | 2023-03-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A package of Tyson Foods Inc. chicken is arranged for a photograph in Tiskilwa, Illinois. Tyson Foods will close two chicken plants in May, affecting nearly 1,700 employees. "While the decision was not easy, it reflects our broader strategy to strengthen our poultry business by optimizing operations and utilizing full available capacity at each plant," Tyson said in a statement to CNBC. The company's plants in Van Buren, Arkansas, and Glen Allen, Virginia, will close May 12. Coca-Cola offered voluntary buyouts to North American workers, while PepsiCo cut jobs in its Frito-Lay and North American beverage units.

☆ Can the Red Carpet Ever Be Fun Again?
▼ + stars: | 2023-03-09 | by ( Ellen Gamerman | ) www.wsj.com time to read: 1 min

Comedian Joan Rivers once ruled the red carpet with her colorful-yet-polarizing hosting style. When actor Andrew Garfield and YouTube comedian-turned-red carpet host Amelia Dimoldenberg engaged in sparkling repartee about astrological signs on this year’s Golden Globes red carpet, it exposed an urgent need: a nation famished for banter. How did we get to the great carpet-charm drought of 2023? Amid fear of sounding shallow or otherwise getting canceled during a live event tracked by social media, denizens of this Sunday’s Oscars may have long forgotten the red carpet’s onetime freewheeling magic.

☆ ‘MH370: The Plane That Disappeared’ Review: Through the Fog of Theories
▼ + stars: | 2023-03-08 | by ( John Anderson | ) www.wsj.com time to read: +1 min

Amelia Earhart will always be among history’s mythic disappearing acts, but aviation’s reigning mystery is the 2014 vanishing of Malaysia Airlines Flight 370. The calamity, which occurred nine years ago this week, remains as much a puzzle as ever according to “MH370: The Plane That Disappeared,” a three-part Netflix documentary series that banks and swoops and rolls through all the possibilities, landing on the only consensus ever reached: that none of what happened was an accident. To recap, the Boeing 777 left Kuala Lumpur in the early hours of March 8, a “routine red-eye,” as someone says, that was supposed to deposit its 227 passengers and 12 crew people in Beijing later that morning. As it was about to leave Malaysian airspace, the air-traffic controller and pilot bid each other good night. It was the last thing heard from MH370, which never made contact with Ho Chi Minh City and whose multiple communications systems suddenly went dark.

☆ An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
▼ + stars: | 2023-03-08 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Wealthy car collectors spent a record amount at the classic-car auctions at Amelia Island over the weekend, suggesting the market remains strong despite recession fears and falling stocks. Total sales at the Amelia Island auction reached $178.4 million — a record for the event, topping the 2016 record of $140 million, according to classic-car insurance and events company Hagerty. Over 390 cars sold, at an average price of $455,293, up from $435,939. The most expensive car sold at Amelia Island was a 1962 Ferrari 250 GT SWB California Spider, sold at Gooding & Company for $18 million — setting a record for a car sold at the Amelia Island auctions. Here are the top 10 cars sold by value at the Amelia Island auctions, according to Hagerty.

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☆ Starbucks CEO Howard Schultz agrees to testify at Senate hearing after subpoena threat
▼ + stars: | 2023-03-07 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks CEO Howard Schultz has agreed to testify in a U.S. Senate hearing about the coffee chain's alleged union busting after pressure from Sen. Bernie Sanders. The Senate's Health, Education, Labor and Pensions, or HELP, Committee was scheduled to vote Wednesday morning on whether to subpoena Schultz, who previously declined a request to appear. Schultz is now scheduled to appear at a March 29 hearing. More than a year after Starbucks Workers United won its first election, none of the cafes have agreed to a contract with Starbucks yet. Starbucks has lodged more than 100 of its own complaints against the union, alleging intimidation and harassment.

☆ Nestle, Tyson and other food giants bet on air fryer boom to grow sales
▼ + stars: | 2023-03-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

An Air Fryer for sale at Kroger Marketplace in Versailles, Kentucky, U.S., on Tuesday, Nov. 24, 2020. Adam Graves, president of Nestle U.S.'s pizza and snacking division, said the company is leaning into the air fryer boom through its frozen food brands, specifically to offer customers more value. Other Nestle products, like Hot Pockets, now include air fryer cooking instructions alongside directions for heating up in the microwave and oven. Tyson is also a third of the way through adding air fryer directions to its packaging for its frozen prepared foods. The air fryer directions are boosting Tyson's brand favorability, according to Hall, who cited recent brand health data.

☆ How NYC's oldest chocolate house survived a century
▼ + stars: | 2023-03-01 | by ( Caroline Mishelle Aghajanian | Amelia Kosciulek | ) www.businessinsider.com time to read: +1 min

The company still makes chocolate following the founder's original recipes and techniques. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyLi-Lac Chocolates is Manhattan's oldest chocolate shop, having survived decades of change in New York City. Since Li-Lac opened in 1923, owners have stuck to the founder's original chocolate recipes while adding new confections along the way. Today, Li-Lac makes its legendary fudge, butter crunch, and truffles, as well as over 1,000 specialty molds for occasions like Easter and Thanksgiving. The company has six locations in New York City, with all of its ingredients made inside its Brooklyn factory.

☆ Sen. Bernie Sanders calls vote on subpoena for Starbucks CEO Howard Schultz
▼ + stars: | 2023-03-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Sen. Bernie Sanders is making good on his threat of a subpoena for Starbucks CEO Howard Schultz on what Sanders has called union-busting activity at the company's coffee shops. Sanders said Wednesday that the Senate's Health, Education, Labor and Pensions Committee will vote March 8 on whether to issue a subpoena for Schultz, who previously declined to appear in front of the committee. Sanders said in a statement that Schultz has denied meeting and document requests and refused to answer questions from him and his fellow senators. "Unfortunately, Mr. Schultz has given us no choice, but to subpoena him," Sanders said in a statement. In response, Sanders, who chairs the Senate committee, hinted that lawmakers could compel Schultz to appear by issuing a subpoena.

☆ Here's why American men die younger than women on average and how to fix it
▼ + stars: | 2023-03-01 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

Men die younger than women in the United States, on average. American women had a life expectancy of 79 years in 2021, compared with men's, which was only about 73, according to CDC data. "Across, basically, almost every major cause of death, men are more likely to die than women are." That means there are some steps we can take to work toward helping men live longer. Watch the video above to learn more about why men die younger on average than women and what we can do to change it.

☆ McDonald's expands Krispy Kreme test to more than 150 Kentucky locations
▼ + stars: | 2023-02-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

In this photo illustration, a Krispy Kreme glazed doughnut is shown on May 12, 2022 in Daly City, California. McDonald's will sell Krispy Kreme doughnuts at more than 150 Kentucky locations starting next month, for a limited time. In October, nine McDonald's restaurants in Louisville started selling Krispy Kreme doughnuts. But both Krispy Kreme and McDonald's have reported strong sales in recent quarters. Krispy Kreme Chief Operating Officer Josh Charlesworth said in January at the ICR Conference that the McDonald's test showed the doughnut chain can execute its daily fresh deliveries to restaurant locations.

☆ The success of resale businesses right now hinges on consumer costs, say the investors of 'Shark Tank'
▼ + stars: | 2023-02-25 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Mark Cuban invested $300,000 for 25% equity in the resale startup Retold Recycling on "Shark Tank." Here's what the cofounders learned about running a resale business on "Shark Tank." Yeoh and Trumble are hoping to do this by tapping consumer and investor interest in the resale and sustainable-clothing spaces. Here's what the cofounders learned from the celebrity investors about running a sustainable-resale business during their time in the tank. Christopher Willard/Getty ImagesWhile the sharks supported the mission of Retold Recycling, many didn't see a business opportunity for themselves or a way to turn a profit.

☆ Beyond Meat reports narrow-than-expected quarterly loss despite sinking sales
▼ + stars: | 2023-02-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Beyond Meat on Thursday reported a narrower-than-expected loss for its fourth quarter, despite its sales sinking more than 20%. Net sales dropped 20.6% to $79.9 million. The company said demand for meat alternatives across "all channels" is still soft. Beyond's net revenue per pound fell 4.4% in the quarter. U.S. sales fell 20.9% as the company saw weaker demand in both its grocery and food service segments.

☆ Starbucks is launching olive oil-infused coffee in Italy, plans U.S. release this spring
▼ + stars: | 2023-02-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNTStarbucks initial Oleato launch will launch three olive oil-infused drinks in stores across Italy. Source: StarbucksStarbucks has a new way to customize its coffee: olive oil. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. Celebrities including Kourtney Kardashian have endorsed drinking it, while startups like Saint Supply are selling their own olive oil expressly for drinking, not cooking. The upscale coffee megastores were meant to help Starbucks compete with the likes of Intelligentsia Coffee and Blue Bottle Coffee.

☆ McDonald's to launch McPlant nuggets made with Beyond Meat in Germany
▼ + stars: | 2023-02-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

The fast-food giant announced Wednesday that customers in Germany will be able to order plant-based McPlant Nuggets starting Feb. 22. McDonald's, which has more than 1,400 locations in Germany, is also adding the McPlant burger to the country's menu. The launch comes just days before the two-year anniversary of the companies announcing their three-year deal for Beyond to become the preferred patty supplier for McDonald's McPlant burger. But it looks unlikely at this point that U.S. customers will get the chance to try the new McPlant Nuggets for themselves at the company's roughly 14,000 domestic locations. McDonald's and Beyond ended their U.S. test of the McPlant burger in 2022 and haven't announced any plans for additional testing or a nationwide launch.

☆ Bernie Sanders hints at subpoena for Starbucks CEO Howard Schultz
▼ + stars: | 2023-02-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Sen. Bernie Sanders hinted that lawmakers could subpoena Howard Schultz to compel the outgoing Starbucks CEO to testify in front of a Senate panel about how the coffee chain is handling its baristas' push to unionize. "One way or another, he will be there," Sanders, a pro-union Vermont independent, told reporters on Capitol Hill. Sanders, who chairs the Senate's Health, Education, Labor and Pensions Committee, said in a statement Wednesday that he intends to hold Schultz and Starbucks accountable and looks forward to seeing Schultz appear before the committee. Schultz declined an invitation from 11 senators to appear at the March 9 hearing, Reuters first reported Tuesday evening. To date, regional offices of the federal labor board have issued 76 complaints against Starbucks, alleging illegal labor practices.

☆ Chipotle Mexican Grill to launch new spinoff, Farmesa Fresh Eatery, in a ghost kitchen
▼ + stars: | 2023-02-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Chipotle Mexican Grill is launching a new spinoff, called Farmesa Fresh Eatery, in a California ghost kitchen. And, "when the time is right," Lawton said, Chipotle will use its loyalty program database to attract potential Farmesa customers. When opened, the Santa Monica location will be Kitchen United's 24th ghost kitchen. For Chipotle, Kitchen United's model allows the restaurant chain to test out the new brand with reduced risk. For now, Chipotle's chief purpose with the location is simply to learn, but that doesn't mean Farmesa won't grow.

☆ Coca-Cola revenue rises in fourth quarter, fueled by higher prices
▼ + stars: | 2023-02-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Coca-Cola on Tuesday reported quarterly revenue that beat analysts' expectations, driven by higher prices on its drinks. Excluding items, Coke earned 45 cents per share. Looking to 2023, Coke is projecting comparable revenue growth of 3% to 5% and comparable earnings per share growth of 4% to 5%. Wall Street was forecasting revenue growth of 3.9% and earnings per share growth of 3% for the year. Read the Coca-Cola earnings report here.

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