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It shows how Amazon is expanding holiday sales — and trying to get Prime members to buy more. AdvertisementMany of the deals that Amazon is advertising for its Prime Big Deal Days this month aren't your typical holiday gifts. To be sure, the company describes the sales event as "epic deals ahead of the holiday season" (note the "ahead" here). It added the fall version in 2022 (though Prime Day 2020 also took place in October that year due to delays from the pandemic). Walmart's Holiday Deals sale starts on October 8, the first day of Prime Day, and runs through October 13.
Persons: , Luc Wathieu, Wathieu, Dyson, Barbie, Lowe's, Canaves Organizations: Deal, Walmart, Service, Apple, Georgetown University's McDonough School of Business, Amazon, Business, Home Depot, July's Locations: Emarketer, Amazon
Yet the concept, which eventually became Raising Cane's Chicken Fingers, propelled Graves to his debut Tuesday on the Forbes 400, a ranking of America's richest people. He's reportedly the country's 107th-richest person, with an estimated net worth of $9.5 billion, largely driven by his ownership stake in Raising Cane's. Graves owns more than 90 percent of the company, and has no plans to take it public or sell his stake to private investors, he said. "I want my kids in the business to be able to carry our values on after their mom and I are gone," said Graves. "They can turn this into a worldwide business and continue to grow."
Persons: Todd Graves, Craig Silvey, Graves, He's, Cane's —, Cane — Organizations: LSU, Forbes, Nicholls State University, Small Business Administration, CNBC Locations: Louisiana, Cane's, California, Baton Rouge , Louisiana, Alaska —
Workers say they're struggling with mobile ordersEven former Starbucks CEO Howard Schultz said in a May LinkedIn post that current Starbucks leadership should "reinvent the mobile ordering and payment platform." "We believe a visit to Starbucks should be effortless and delightful, whether ordering through the Starbucks app or at our stores." Still, some workers — whom the company calls "partners" — have pointed to issues with the mobile ordering system in interviews with BI. Starbucks' rewards program is a big driver of all those digital orders, a partner at a Starbucks store in South Dakota told BI. "They deserve to have that moment where things are corrected and they're leaving happy, but we can't deliver on it always," the partner told BI.
Persons: Brian Niccol, , Hottovy, Howard Schultz, Niccol Organizations: Starbucks, Business, Service, Workers, LinkedIn, BI Locations: North Carolina, South Dakota, Florida
Dutch Bros Coffee has eight drinks on its Dutch Faves menu, and I tried them all. Go to newsletter preferences Thanks for signing up! AdvertisementDutch Bros Coffee started as a pushcart in 1992 and has grown into a drive-thru empire. Dutch Bros' Dutch Faves menu is described as: "Where it all began — fan favorites, guaranteed to satisfy." Note: Prices are based on one Dutch Bros location in Missouri and may vary in other states.
Persons: , It's Organizations: Dutch, Service, pushcart, Bros Locations: The Oregon, Missouri
In a Tuesday interview with CNBC's Jim Cramer, Chipotle CSO Jack Hartung discussed business in California since the burrito-maker upped prices in April, saying there's "macro resistance" from consumers to inflation across the industry. "Our read on California is less about resistance to our price increase, and it's more of a macro impact," Hartung said. "Because when you look at the restaurant industry, the restaurant transactions are down for everybody." The company raised prices in the state by about 7% to offset the new higher minimum wage regulations for fast-food workers, which raised the mandated hourly rate from $16 to $20 per hour. Chipotle beat Wall Street's expectations during its last quarter and reported growing market share and restaurant transactions across every income level.
Persons: CNBC's Jim Cramer, Jack Hartung, Hartung, There's Organizations: CNBC Locations: California
Before going into politics, Vice President Kamala Harris worked at McDonald's in her 20s, she confirmed in a recent interview with MSNBC's Stephanie Ruhle. "It was not a small job," Harris told Ruhle. "There are people who work at McDonald's in our country who are trying to...raise families and pay rent." To Harris, working at McDonald's inspired her to make lowering costs and raising economic security a "top priority" if elected president in November. These are valuable skills in any career, Tiffanie Boyd, senior vice president and chief people officer for McDonald's, previously told CNBC Make It.
Persons: Kamala Harris, MSNBC's Stephanie Ruhle, Harris, Ruhle, Tiffanie Boyd, Boyd Organizations: CNBC Locations: McDonald's
Demonstrators protest outside a closed Starbucks Corp. location at 505 Union Station in Seattle, Washington, US, on Saturday, July 16, 2022. Baristas at a Starbucks in Bellingham, Washington, became the 500th store to join the Starbucks Workers United union on Monday. Since the first location voted to unionize in 2021, more than 11,000 baristas have joined the union, according to a Tuesday press release. "This milestone is a testament to workers building power from the ground up," said Lynne Fox, president of Workers United. The union and Starbucks announced together in February that negotiations would be taking place through a collaborative process to work toward a foundational framework.
Persons: Baristas, Lynne Fox, Brian Niccol Organizations: Starbucks Corp, Starbucks Workers United, Workers, Starbucks Locations: Seattle , Washington, US, Bellingham , Washington, Bellingham
Buffalo Wild Wings is defending its "boneless wings" in court against deceptive marketing claims. Buffalo Wild Wings argue it is 'common sense' that they are not actually wings, citing another case. AdvertisementBuffalo Wild Wings has been fighting in court for over a year to prove that its "boneless wings" aren't just chicken nuggets. In court papers, lawyers for Halim argue that the boneless wings are "more akin in composition to a chicken nugget rather than a chicken wing." Buffalo Wild Wings did not immediately respond to a request for comment about the lawsuit filings.
Persons: , Aimen Halim, Halim, Tom's, Bill Marler, Marler Organizations: Buffalo Wild Wings, Service, Buffalo, Wings, Ohio Supreme, REKM Locations: Ohio
Trader Joe's Fall Harvest salsa had an unusual sweetness that I didn't care forThe Fall Harvest salsa isn't the only seasonal dip Trader Joe's has for fall. Trader Joe's pumpkin-spice granola bark was thicker than I expectedTrader Joe's pumpkin-spice granola bark was thick. I used Trader Joe's pumpkin brioche to make a lovely French toastTrader Joe's pumpkin brioche is a unique fall take. Trader Joe's pumpkin 4-cheese Greek-yogurt dip had way too many competing flavorsI was not a fan of this Trader Joe's dip. Trader Joe's pumpkin pancake and waffle mix can elevate your fall breakfast gameTrader Joe's pumpkin pancake and waffle mix was incredible.
Persons: , I've, Joe's, Wilson, I'm, I'd, they're, Savanna, empanadas, Wilson I, hummus, Wilson I'm, it's, Joe, dente, you've Organizations: Service, Business, Wilson Apple, Pretzel Slims, Joe's Pretzel Slims, Wilson Locations: Savanna, globs, Swain, Monterey Jack, chiles, Brussels
How birria took over restaurant menus across the country
  + stars: | 2024-09-25 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +5 min
Birria burrito surrounded by birria tacos, birria munchwrap, birria loaded fries and birria consommé at Little Miner Taco in North Bethesda, Maryland. Birria tacos use the slow-cooked meat as a filling and usually include a consommé on the side to dip the taco. Over the past four years, birria has seen its presence on restaurant menus grow 412%, largely thanks to midscale and casual-dining chains, according to market research firm Datassential. More recently, birria took off in New York City, with restaurants and food trucks serving up tacos and consommé across the five boroughs. Finding opportunityQdoba's Brisket Birria, seen here in the chain's quesadillas.
Persons: birria tacos, birria, Laura Chase de Formigny, chiles, El, Del, Taco Bell, Scott Suchman, Steven Alvarez, Alvarez, Don Guadalupe Zárate, Birrieria Gonzalez, TikTok, Qdoba's Brisket, Katy Velazquez, Qdoba, Velazquez, Lamb, Liz Hafalia Organizations: Little Miner, Washington Post, Getty, John's University, Butterfly Equity, San Francisco Chronicle, Hearst Newspapers Locations: Little, North Bethesda , Maryland, Mexican, U.S, Del Taco, Jalisco, Washington ,, St, Europe, Americas, Tijuana, Mexico, Los Angeles, California, New York City, Oakland , California
Starbucks shares may be due for some downside, according to Jefferies. Analyst Andy Barish downgraded the stock to underperform from hold and cut its price target by $4 to $76. While shares have already fallen about 0.6% this year, they have surged around 24% since the CEO announcement. Barish expects there to be low visibility in China and the U.S. in the near term and sees fiscal 2025 guidance coming in lower than expected. He thinks the long-term growth algorithm should be revised lower as well.
Persons: Andy Barish, Brian Niccol —, Barish, Niccol's, Niccol Organizations: Jefferies Locations: China
Five Below is a popular discount store chain with locations across 43 states. I visited my local store in New York to stock up on Halloween items. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .
Persons: Organizations: Service, Business Locations: New York, Wayne , Pennsylvania
But one employee — or "partner," as Starbucks calls them — at a store that adopted the Siren Craft System earlier this year told Business Insider that the system isn't as effective as Starbucks has portrayed. The Siren Craft System is supposed to free up time that partners can devote to customer service and improving their coffee-making skills, Starbucks said in July. "Unless it's insanely slow, there's no time at any time of day to practice latte art or make samples for customers," the employee who has used the Siren Craft System said. The Siren Craft System is just Starbucks' latest effort to shorten wait times and improve operations at its stores. But now, the Siren System reserves one blender for frappuccinos and the other for Refreshers.
Persons: , baristas, Laxman Narasimhan, Brian Niccol, Niccol, we've, Thomas Organizations: Service, Starbucks, Business, BI, Siren, System, Siren System Locations: Plano , Texas
For the second consecutive year, the fast food giant is discounting one of its most popular menu items on National Cheeseburger Day. On Sept. 18 only, customers will be able to buy the chain's famous Double Cheeseburger for 50 cents. The offer is available to customers who use the fast food chain's smartphone app, and is limited to one burger per customer. Users who open the app will be prompted to take advantage of the National Cheeseburger Day promotion, and the discount will be automatically applied at checkout. The offering from the Golden Arches is competing with value combos from rival fast food chains like Taco Bell, Burger King, Wendy's and Popeyes.
Persons: McDonald's, Taco, Burger, Bacon, Burger King Organizations: Taco Bell, CNBC Locations: Wendy's
Here's why Americans are going back to Chili's
  + stars: | 2024-09-14 | by ( Ryan Baker | ) www.cnbc.com   time to read: +1 min
"Our marketing team has done a great job of getting back into what we call the zeitgeist or being relevant again," Kevin Hochman, CEO of Chili's parent Brinker International , told CNBC. A viral social media presence and a push toward value-oriented advertising have propelled sales growth every quarter of fiscal 2024. The brand grew rapidly in the early 2000s, but in the decade that followed the Great Recession, Chili's U.S. locations declined and sales growth flattened. It made Chili's fun again," said Joe Wilson, managing partner of a Chili's in East Rutherford, New Jersey. Watch the video to learn more about how Chili's made a comeback.
Persons: Kevin Hochman, David Palmer, Brinker, We've, Joe Wilson, Chili's Organizations: Brinker International, CNBC, Evercore ISI Locations: U.S, East Rutherford , New Jersey
CAVA CEO Brett Schulman sits down with Jim Cramer
  + stars: | 2024-09-12 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
CAVA CEO Brett Schulman sits down with Jim CramerCAVA President and CEO Brett Schulman sits down with 'Mad Money' host Jim Cramer to talk the mediterranean chain's explosive growth, post-IPO landscape, consumer trends and more.
Persons: Brett Schulman, Jim Cramer CAVA, Jim Cramer
Check out the companies making headlines after the bell : GameStop — The gaming retailer was trading 1% lower after posting mixed second-quarter results. For its third quarter, the company expects to post an adjusted loss of 3 cents to 4 cents per share, while analysts had estimated losses of 4 cents per share. Dave & Buster's Entertainment — The arcade chain's stock climbed 8% after Dave & Buster's posted per-share earnings of 99 cents, while analyst polled by LSEG had expected just 84 cents. However, the company's revenue of $557 million came below the forecasted $561 million. Morgan Stanley — The bank stock fell 1% following a downgrade to neutral from buy at Goldman Sachs.
Persons: LSEG, Buster's, Morgan Stanley, Goldman Sachs, Goldman, Richard Ramsden Organizations: GameStop, Wellness, Buster's Entertainment, Goldman
An expansion rate surpassing America'sKFC, run by Shanghai-headquartered Yum China, has historically enjoyed the lion's share of the country's fast-food cravings. Hopes for a new middle class in ChinaCities in China are unofficially grouped into tiers according to their status, size, and wealth. Chinese KFC has nearly doubled its menu itemsExpanding during a sluggish economy might make sense for fast food brands, which are often classified as recession-proof as consumers downgrade their spending. Advertisement"Now, they are doubling down further on this strategy by expanding into the inland regions of China, especially Tier Three and Tier Four cities with a growing middle class," they told BI. Yum China has also been expanding aggressively in the country's burgeoning coffee scene, establishing a popular spin-off called KCoffee.
Persons: , It's, McDonald's, Shaun Rein, Rein, Allison Malmsten, Malmsten, Cui Nan, Wang Gang, Jonathan Bernstein, Bernstein, Kung Fu, Daxue, it's, They've Organizations: Service, Thursday, Business, McDonald's, Tier, China Market Research Group, KFC, LONG, Future Publishing, Getty Images, China, US, Yum China, Daxue Consulting, Publishing, China News Service, Getty, Analysts, Yonder Consulting Locations: China, Kentucky, Weibo, Hangzhou, China's, Shanghai, China Cities, Beijing, Guangzhou, Shenzhen, Chengdu, Chongqing, Nanyang, Suqian, Jiangsu, London, Asia, Shanghai thronged
In some places — especially in the U.S. — we aren't always delivering," Niccol wrote in the open letter addressed to customers, employees and stakeholders. Niccol, who calls himself a long-time Starbucks customer, outlined four areas for improvement: the barista experience, morning service, its cafes and the company's branding. "This is our plan for the U.S., and where I need to focus my time initially," Niccol wrote in the letter. Later, Niccol plans to address its international business, like China, its second-largest market. The coffee giant named Niccol as chief executive in August, in conjunction with the company's ouster of then-CEO Laxman Narasimhan.
Persons: Brian Niccol, Niccol, We're, Laxman Narasimhan, shakeup, he's Organizations: U.S, Starbucks Locations: U.S, China, Gaza
Niccol, who has spent six years as the CEO of Chipotle, officially took the reigns at Starbucks on Monday. Niccol could also bring big changes to Starbucks' menu and stores. Related storiesNiccol "will bring a similar discipline that will enable Starbucks to better succeed with menu innovation," Charles wrote. New menu items — including those that target new meals and times of the day — could also be on the agenda, Deutsche Bank's Silberman wrote. Niccol could implement a similar strategy at Starbucks and use it to expand Starbucks' breakfast and lunch offerings, she said.
Persons: , Brian Niccol, Laxman Narasimhan, Niccol hasn't, isn't, didn't, John Ivankoe, Lauren Silberman, John Culver, Roz Brewer, Silberman, Niccol, Chipotle, Cowen, Andrew Charles, Charles, Deutsche Bank's Silberman, Gregory Francfort, skillset, Taco Bell, Eric Gonzalez, Narasimhan, Niccol's, Gonzalez Organizations: Service, Starbucks, Business, JPMorgan, Deutsche Bank, Walgreens, Deutsche, Guggenheim Partners, Taco, Capital Locations: China
The higher end of the company's revenue outlook for fiscal 2025 was also above estimates. UiPath — The stock rose more than 8% following the software company's better-than-expected second-quarter results. Broadcom — Shares of the chipmaker fell 7% after the company's revenue guidance for the current quarter was less than expected . Guidewire Software — Shares jumped more than 7% after the company surpassed the Street's expectations. Samsara estimated adjusted earnings of between 16 cents and 18 cents per share and revenue of $1.224 billion to $1.228 billion.
Persons: UiPath, Smartsheet, Guidewire, FactSet, , Jesse Pound, Sarah Min, Michelle Fox Theobald Organizations: Broadcom —, Broadcom, Reuters, Blackstone, JPMorgan Locations: Vista
Dollar Tree — Shares plunged nearly 11% after the dollar store missed second-quarter revenue estimates and trimmed its full-year forecast. Zscaler — Shares of the cloud security company slipped nearly 17% after its fiscal first-quarter earnings forecast missed Wall Street estimates. GitLab — Shares of the software developer surged 11% after its third-quarter earnings forecast surpassed Wall Street estimates. GitLab expects to earn 15 cents to 16 cents per share, while analysts polled by LSEG were calling for 11 cents. The company's full-year revenue forecast of $742 million to $744 million also came in above a forecast $737 million.
Persons: Dick's, Sweetgreen, Cowen, LSEG, PagerDuty, Nordstrom, , Alex Harring, Jesse Pound Organizations: Nvidia, Bloomberg, U.S . Department of Justice, Dick's, , Wall, FactSet, AMD —
When Taco Bell announced the event back in July, it invited hundreds of fast-food lovers to slow down and enjoy "early retirement" with all-you-can-eat Taco Bell meals and "senior-inspired recreation." Hanging among the racks were limited-edition Taco Bell merchandise, vintage T-shirts, basketball shorts, hot pants, and many, many hats. I opted for the Cantina chicken burrito and soft taco, my favorite new menu items at Taco Bell. Tim revealed he was an avid runner who had trekked two miles to grab a single taco from Taco Bell for 97 days in a row. Anneta Konstantinides/Business InsiderWhen I asked Rotter why Taco Bell was so important to him, he recalled a trip to the only Taco Bell in Hawaii that sells kalua pork, where the staff lit up over his Hawaiian Taco Bell shirt.
Persons: , Taco, Taco Bell, Uber, tacos, Kenny Rotter, Rotter, fanny, there's, Snoop, I've, Anneta, Taylor Montgomery, Taco Bell's, Montgomery, Dolly Parton, Bell, Gen Z, Tim, dink, influencer Joey Zauzig, Zauzig, Will, James, Caroline Organizations: Service, Taco Bell, Bell, Business, New York, Subway, Planters, KFC, Mac Locations: San Diego, La Valle, San Diego's, Santa Fe, Los Angeles, San, Woodstock, LA, Taco, Hawaii, America
The firm owned more than 3 million shares of Nike at the end of June, a stake worth roughly $229 million, the filing disclosed. Dell — Shares climbed 7.1% after JPMorgan added Dell to its focus list, noting the potential for upside after a recent pullback. Tapestry adjusted earnings per share of 92 cents, versus analysts' estimates of 99 cents per share, per LSEG. Berkshire holds 132.9 million shares of Sirius XM versus 36.7 million previously. Earnings per share fell to $4.59 in the fiscal second quarter from $7.98 per share a year ago.
Persons: Bill Ackman's, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, Alibaba, FactSet, Robinhood, Yun Li, Samantha Subin, Michelle Fox, Pia Singh, Alex Harring, Sean Conlon, Jesse Pound Organizations: Walmart, Nike, Bill Ackman's Pershing, Capital Management, Berkshire, Dell, JPMorgan, Citi, Cisco Systems, Cisco, Deere, Bros, UBS, Deutsche Bank, Lumentum Holdings, Sirius XM Holdings, Sirius XM, Management
CNBC Daily Open: Wall Street surges; Starbucks ousts CEO
  + stars: | 2024-08-14 | by ( Abid Ali | ) www.cnbc.com   time to read: +4 min
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Economic uncertainty Home Depot exceeded quarterly expectations but lowered its full-year sales outlook , citing weak demand due to high interest rates and consumer uncertainty. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. The baristas have to be energised, clearly they've had some union problems, clearly they've had a lot of new products that haven't worked," Palmer told CNBC "Squawk on the Street." Chief Financial Officer Richard McPhail told CNBC, "Customers aren't just deferring because of higher financing costs.
Persons: Richard McPhail, Laxman Narasimhan, Brian Niccol, Narasimhan, Mellody Hobson, Narasimhan —, Niccol, David Palmer, they've, haven't, Palmer, Sarat Sethi, CNBC's, Sethi, , Sarah Min, Amelia Lucas, Brian Evans, Samantha Subin, Jennifer Elias, Jeff Cox, Spencer Kimball Organizations: New York Stock Exchange, CNBC, Jefferies, Google, Apple, Gemini, Evercore ISI, Depot, Douglas, Lane & Associates, McDonald's, Starbucks, Walmart Locations: New York City, China
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