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☆ Sandwich chain Subway is exploring a possible sale
▼ + stars: | 2023-02-14 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

In this photo illustration, a Subway sandwich is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Sandwich giant Subway confirmed Tuesday it is exploring a possible sale. Subway said Tuesday JP Morgan is advising the Connecticut-based company and will conduct the sale exploration process. Subway, which has over 37,000 restaurants in more than 100 countries, said earlier this month its same-store sales climbed 9.2% last year. Same-store sales at North American locations jumped 7.8% in 2022, Subway said, surpassing decade-old average weekly sales records.

☆ Vita Coco wants its coconut water be your cocktail mixer — and your hangover cure
▼ + stars: | 2023-02-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

For nearly two decades, Vita Coco has sold its coconut water to health-conscious consumers as a fresh way to hydrate. Co-founder Mike Kirban compared Vita Coco's transformation to that of Ocean Spray, the agricultural cooperative that sells cranberry products. "Ocean Spray is a brand that's four times our size, that's all based on one ingredient," the company's executive chairman told CNBC. Founded in 2004, Vita Coco started as a coconut water brand but has since expanded into other beverage categories, like energy drinks and water. The company went public in October 2021, just before the market for initial public offerings dried up as inflation, the war in Ukraine and economic uncertainty weighed on investors.

☆ Chick-fil-A will test a cauliflower sandwich in its first plant-based pilot
▼ + stars: | 2023-02-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Chick-fil-A is making its cauliflower sandwich the same way as its original chicken sandwich. Chick-fil-A will test its first plant-based entree: a cauliflower sandwich. The new sandwich closely resembles its famous chicken sandwich, but uses breaded and pressure-cooked cauliflower in place of meat. Chick-fil-A said it's been working on a plant-based sandwich for nearly four years, right around when chains like Dunkin' and Restaurant Brands International's Burger King were putting Beyond Meat and Impossible Foods substitutes on their menus. Buffalo Wild Wings and countless bars serve fried cauliflower smothered in buffalo sauce as an alternative to chicken wings.

☆ Fast food reigns supreme as inflation weighs on pricier restaurants
▼ + stars: | 2023-02-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Fast-food chains are looking like the big winners in the fourth quarter — and beyond — as fast-casual and casual-dining restaurants struggle to attract customers. Many publicly traded restaurant companies haven't reported their latest quarterly results yet, but for those that have, a pattern is emerging. The fast-food giant said U.S. same-store sales climbed 10.3%, helped in part by low-income consumers returning more frequently than they had for the prior two quarters. Taco Bell's domestic same-store sales climbed 11%, boosted by increased breakfast orders, the return of Mexican Pizza and its value meals. Pizza Hut's U.S. same-store sales grew 4%, while KFC's ticked up 1% as it faced tough year-ago comparisons.

☆ PepsiCo earnings beat expectations as price hikes boost snack and beverage sales
▼ + stars: | 2023-02-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

PepsiCo on Thursday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher prices for its snacks and drinks. But the company saw volume fall 2% across its food business worldwide as those price hikes hurt consumer demand. Frito-Lay North America reported flat volume for the quarter, despite double-digit revenue growth for Doritos, Cheetos, Smartfood and many of its other brands. Looking to 2023, Pepsi is projecting a 6% increase in organic revenue and 8% growth in its core constant currency earnings per share. Wall Street is anticipating net sales growth of 3.5% and earnings per share growth of 7.3%.

☆ Fast-food giant Yum Brands tops expectations, led by strength in Taco Bell
▼ + stars: | 2023-02-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: 1 min

In this articleVehicles wait in line at the drive through lane of a Yum! Brands Inc. Kentucky Fried Chicken (KFC) and Taco Bell restaurant in Lockport, Illinois. Yum Brands on Wednesday reported quarterly earnings and revenue that topped analysts' expectations, fueled by strong same-store sales growth at Taco Bell. Excluding items, the company earned $1.31 cents per share. Read the full Yum Brands earnings report here.

☆ Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales
▼ + stars: | 2023-02-07 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Chipotle Mexican Grill on Tuesday reported weaker-than-expected quarterly earnings and revenue, signaling that its price hikes may finally be alienating customers. Excluding certain legal expenses, corporate restructuring costs and other items, Chipotle earned $8.29 per share. The company's same-store sales rose just 5.6%, falling short of StreetAccount estimates of 6.9% and coming in weaker than Chipotle's own forecast from late October. The company said it's projecting same-store sales growth in the high-single digits for the first quarter of 2023, based on January same-store sales growth in the low double-digits. Wall Street was anticipating first-quarter same-store sales of 6.7%, according to StreetAccount estimates.

☆ Mediterranean restaurant chain Cava confidentially files for an IPO
▼ + stars: | 2023-02-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Mediterranean chain Cava announced Monday it has confidentially filed for an initial public offering. It's the first restaurant company so far this year to take the first step toward a public market debut, following a drought of IPOs in 2022. In 2018, it bought Zoes Kitchen for $300 million, taking the chain private. The company is converting Zoes locations into new Cava restaurants, expanding its footprint. Cava also sells its dips and spreads, like spicy hummus, tzatziki and tahini dressing, at Whole Foods and other grocery stores.

☆ Earnings playbook: Your best moves ahead of Chipotle, Disney and the second half of reporting season
▼ + stars: | 2023-02-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

Roughly 50% of S & P 500 companies have posted earnings thus far, and the results have been mixed. Tuesday Chipotle Mexican Grill is set to report earnings after the bell, followed by a conference call at 4:30 p.m. What history shows: Data from Bespoke Investment Group shows Chipotle beats earnings expectations 76% of the time and averages a 1.7% gain on earnings day. What history shows: Bespoke data shows Disney beats earnings per share estimates nearly 80% of the time. What history shows: PayPal earnings have beaten analyst earnings expectations nine of the last 10 quarter, according to FactSet.

☆ Starbucks misses expectations as China drags down international sales
▼ + stars: | 2023-02-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks on Thursday reported quarterly earnings and revenue that fell short of analysts' expectations as weak international demand weighed on its results. However, Starbucks now expects negative same-store sales growth in China through the fiscal second quarter, followed by a reversal of the trend in the second half of the fiscal year. Globally, its same-store sales rose 5%, driven by a 7% increase in average transaction spend. In the U.S., Starbucks saw same-store sales growth of 10%, thanks to customers spending more and a 1% bump in traffic. Outside its home market, Starbucks' same-store sales shrank 13%, dragged down by China's dismal performance.

☆ Sandwich chain Subway's sales climb as turnaround takes hold ahead of potential sale
▼ + stars: | 2023-02-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Subway said its same-store sales climbed 9.2% in 2022, signaling the sandwich chain's turnaround is taking hold as it reportedly explores a sale. However, Subway has recently shared periodic sales updates as it has undertaken a turnaround. Subway has seen eight consecutive quarters of sales growth, and digital sales have more than tripled since 2019, the company said in a release. Its North American locations' same-store sales jumped 7.8% in 2022, breaking decade-old average weekly sales records, according to Subway. The trend reverses years of sales declines for the once-ubiquitous sandwich chain, which was at one time the largest U.S. restaurant company by number of locations.

☆ McDonald's profit grows as inflation-weary customers flock to its restaurants
▼ + stars: | 2023-01-31 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's on Tuesday reported that U.S. customers are visiting its restaurants more, helping the fast-food giant top Wall Street's estimates for its fourth-quarter earnings and revenue. Globally, same-store sales climbed 12.6% in the quarter, fueled by strong demand in the U.S. and its largest European markets. In McDonald's home market, higher menu prices and increased demand drove same-store sales growth of 10.3%, topping StreetAccount estimates of 8.1%. Its international developmental licensed markets division saw same-store sales climb 16.5%, driven by Japan and Brazil. Looking to 2023, McDonald's is forecasting that it will open 1,900 new restaurants.

Sakamoto Kurozu, Inc. is a kurozu maker in the town of Fukuyama in Japan's Kagoshima Prefecture. It follows a 200-year-old method to ferment and age the black vinegar in 52,000 clay pots. It takes one year until the vinegar is ready, but the best batches take three to five years. It takes at least a year until it’s complete, with some of the best batches aging from three to five years. Sakamoto Kurozu, Inc. is one of eight vinegar makers that haven’t changed the process.

☆ Earnings playbook: Apple and Google-parent Alphabet lead the busiest week of reports
▼ + stars: | 2023-01-29 | by ( Fred Imbert | ) www.cnbc.com time to read: +14 min

Tuesday General Motors is set to report earnings before the bell, followed by a conference call at 8:30 a.m. What history shows: Data from Bespoke Investment Group shows GM beats earnings expectations 85% of the time. McDonald's is set to report earnings before the bell, with company leadership set to hold a call 8:30 a.m. What history shows: Qualcomm has either beaten or matched analysts' earnings expectations in the last 32 quarters, according to FactSet. Alphabet is set to report earnings after the close, followed by a conference call at 4:30 p.m.

☆ Chipotle seeks to hire 15,000 restaurant workers ahead of busy spring months
▼ + stars: | 2023-01-26 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A "Now Hiring" sign is displayed in front of a Chipotle restaurant on October 07, 2022 in Washington, DC. Chipotle Mexican Grill is seeking to hire 15,000 restaurant workers ahead of its busiest time of the year, which runs from March to May. In recent months, restaurants have found it easier to attract and retain workers, a reversal after the labor crunch that ensued after pandemic lockdowns. And while layoffs have hit white-collar workers, primarily in the tech industry, low-wage retail and restaurant workers haven't faced any large-scale cuts. To attract and retain workers, the company offers benefits like free meals, tuition reimbursement, debt-free college degrees, access to mental health care and an all-crew bonus worth an extra month's pay each year.

That surge in demand and limited supply contributed to higher prices. But diners will likely still pay higher menu prices than they were last year. Dutch Bros. Coffee CEO Joth Ricci told CNBC that most coffee businesses hedge their prices six to 12 months in advance. However, Zandi said, if the job market remains strong, inflation eases and wages grow, Americans can better manage higher prices for airfare and other items. Several hot pandemic items, including TVs, computers, sporting goods and major appliances have dropped in price, according to Labor Department data from December.

When it comes to queer books, the loudest headlines may be about bans and censorship, but a quieter truth about the state of LGBTQ books reveals the resilience of their authors and commitment of their readers. The queer titles debuting in 2023 are as full of joy as they are examples of resistance, and those in the industry say LGBTQ writers are only getting more ambitious. And while queer young adult books are often the target of book-banning efforts, these titles drove the highest gains in the category, the report found. When it comes to considering a queer future, and what’s next for queer books, that’s something that’s been on the mind of Suzi F. Garcia, the editor of Lambda Literary, a nonprofit that advocates for LGBTQ books and authors. She described the book as having a “queer core” and a sense of hope while discussing issues critical to LGBTQ and Black communities.

☆ Activist investor Nelson Peltz's Trian won't pursue Wendy's takeover
▼ + stars: | 2023-01-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Nelson Peltz isn't interested in acquiring Wendy's , according to a regulatory filing made on Friday. Peltz serves as non-executive chair on the burger chain's board and as chief executive of activist firm Trian Fund Management, which is its largest shareholder. In May, Trian said it was exploring a potential deal with the company to "enhance shareholder value" that could include an acquisition or merger. Trian, which was founded by Peltz, first invested in Wendy's in 2005, when the fund was initially created. Rival McDonald's announced a week ago that it is also revamping its corporate structure for similar reasons.

☆ Starbucks CEO Howard Schultz tells corporate workers to return to the office 3 days a week
▼ + stars: | 2023-01-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Starbucks corporate employees will be returning to the office at least three days a week by the end of the month. Workers closer to regional offices will also be required to come in three days a week, although the specific days aren't mandated. In September, Starbucks asked those workers to work from the office one to two days a week. He also compared corporate workers' continued remote work to baristas, who have never had that option. And Apple mandated employees return to work three days a week back in September.

☆ FAA system outage disrupts thousands of flights across U.S.
▼ + stars: | 2023-01-11 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

The FAA's outage was the second major air travel disruption in less than a month and drew bipartisan criticism. Later Wednesday, Canada's air navigation agency said its similar notification system experienced a brief outage, but said no flights were delayed as a result. Zoom In Icon Arrows pointing outwards FAA system failure created mass cancellations across the U.S. on Jan. 11th, 2023. FlightawareWednesday's FAA issue added to concern from Washington from both Republicans and Democrats, particularly about technology that the complex U.S. air system, the world's busiest, relies on. More than a third of Delta's and United's mainline flights were delayed, while about 50% of American's were running late.

Former McDonald's CEO Stephen Easterbrook unveiling the company's new corporate headquarters during a grand opening ceremony on June 4, 2018, in ChicagoThe Securities and Exchange Commission charged former McDonald's CEO Steve Easterbrook on Monday with misrepresenting his November 2019 firing. McDonald's board fired Easterbrook in 2019 for a consensual relationship with an employee, which violated the company's fraternization policy. In December 2021, the two parties settled the lawsuit, and McDonald's successfully clawed back Easterbrook's severance, valued at $105 million. McDonald's has not admitted or denied the SEC's findings. In a statement, the company said that the SEC's actions reinforce what it has previously said about its handling of Easterbrook's misconduct.

☆ Some restaurant workers could see big wage growth in 2023
▼ + stars: | 2023-01-07 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

The restaurant industry was already struggling with a labor crunch before the pandemic turned the problem into a full-blown crisis . More than half of U.S. states will hike their minimum wage this year , but some restaurant workers could see even bigger gains in 2023. If California's government has its way, average hourly pay for restaurant workers could soar in 2023. And it's unlikely that restaurant workers will see any wage gains on the federal level this year. President Joe Biden has expressed support for a $15-an-hour minimum wage and the elimination of the tipped wage, which allows employers to pay workers as little as $2.13 an hour.

☆ McDonald's plans reorganization, job cuts as it accelerates restaurant openings
▼ + stars: | 2023-01-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

McDonald's is planning job cuts and a reorganization as the company refocuses its priorities to accelerate restaurant expansion, CEO Chris Kempczinski told employees Friday. As part of the reorganization, the company will be deprioritizing and halting certain initiatives, according to a company-wide memo from Kempczinski viewed by CNBC. "Today, we're divided into silos with a center, segments, and markets," Kempczinski wrote. Currently, McDonald's organization is divided into three segments: the U.S., international operated markets and international developmental licensed markets. Additionally, McDonald's said Friday it will speed up its development plans for new restaurants.

Women in West Bengal, India, have been weaving jute into mats for generations. Many Rajbanshi women depend on the craft to make their livelihoods. But mass-produced mats are flooding the market and threatening to put them out of business. Loading Something is loading. But mass-produced mats are flooding the market and threatening to put them out of business.

☆ CIOs Nominate Their Favorite Reads of 2022
▼ + stars: | 2022-12-28 | by ( Tom Loftus | ) www.wsj.com time to read: +9 min

Chief information officers, ever alert to any development in a field that only hurtles forward, largely reflected that alacrity in their choice of reading during 2022. PREVIEWChris Bedi, chief digital information officer, ServiceNow Inc. Photo: IBM Corp.Ron Guerrier, chief information officer, HP Inc. Photo: Cisco Systems Inc.Fletcher Previn, chief information officer, Cisco Systems Inc. Photo: Home Depot Inc.Fahim Siddiqui, chief information officer, Home Depot Inc.

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