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☆ A quaint California downtown is on sale for $6.6 million, but the seller is looking for a specific kind of buyer
▼ + stars: | 2024-09-01 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +6 min

Downtown Campo is an hour away from San Diego in California. Downtown Campo has 28 buildingsThe listing for downtown Campo includes three separate parcels totaling about 16 acres. HMBD Real Estate MarketingRay first purchased the property in 2000 when he lived in San Diego. HMBD Real Estate MarketingHernandez echoed that sentiment, saying locals mentioned renovating the local basketball court and a new playground. AdvertisementHernandez said he's had offers from a mix of interested parties, including traditional real estate investors and people pitching unique concepts.

Persons: —, Deborah Jean Peck, I've, Peck, Campo, John Ray, Nick Hernandez, " Hernandez, Marketing Ray, He's, Ray, Hernandez, Marketing Hernandez, who's, he's, Tony Hawk Organizations: Service, Campo, Business, Downtown, Campo Baptist Church, Marketing, Cleveland National Forest, Campo Metal, Campo hasn't, downtown Locations: Campo, San Diego, Downtown Campo, California, HMBD, Las Vegas, Coast, Mexico, Canada, downtown Campo

☆ Why Malbon Golf welcomed the ‘sweatergate’ social media firestorm
▼ + stars: | 2024-08-30 | by ( Jack Bantock | ) edition.cnn.com time to read: +15 min

The couple’s lifestyle brand, Malbon Golf, had been swept into a social media storm by an eye-catching Masters outfit donned by ambassador and former world No. Nicolas Malinauskas/Malbon GolfStarsThe duo launched Malbon Golf in 2017, with Stephen’s anthropomorphic ball character “Buckets” taking center stage as the brand’s logo. Ross Kinnaird / Getty Images Tom Holland: Part-time web-slinger, full-time golf swinger -- the "Spider-Man" lead is a self-confessed golf addict. Warren Little / Getty Images Stephen Curry: The three-point king of the NBA is also a highly-proficient par-three shooter. Jamie Squire/Getty ImagesFor Malbon Golf, it is simply the latest step in its aim to “condition” the golf world into accepting new styles in the game.

Persons: Stephen, Erica Malbon, Jason Day, Erica, Frank151, —, ’ ”, “, ’ ” Stephen, Nicolas Malinauskas, it’s, ” Erica, “ We’re, — there’s, ” Stephen, ”, Jimmy Choo, Dre, Vince Sirico, Justin Timberlake, Travis Scott, Q, Justin Bieber, Bieber, …, ’, That’s, ” Adam Sandler, Sandler, Gilmore, Shooter McGavin, Christopher McDonald, Al Messerschmidt, Michael Jordan, Davis, Jordan, Isaac Brekken, JT strutting, Matt Sullivan, Catherine Zeta, Jones, Michael Douglas, Douglas, Ross Kinnaird, Tom Brady, Brady, Aaron Rodgers, Josh Allen, Patrick Mahomes, Carmen Mandato, Orlando Ramirez, Jessica Alba, tross, Xaume Olleros, Niall Horan, There's, Tom Holland, Warren Little, Stephen Curry, Isaiah Vazquez, Celine Dion, René Angélil, Dion, Sam Levi, Miles Teller, Alice Cooper, Cooper, Kathryn Newton, Newton, Ezra Shaw, Sandy Young, Little, Tiger Woods, Oscar Wilde’s, Woods, Jamie Squire, Allen Iverson Organizations: CNN, “ City of Angels, ”, Nike, Prince, NBA, University of North Carolina, PGA, Chicago, NFL, Mission, Getty, Management, BMW PGA, Golden State Warriors, Clarkson Creative, Club, American, Tahoe, LPGA, Ryder, Celtic, Team, April’s, Augusta National Locations: Augusta , Georgia, Los Angeles, New York, “ City, Florida, British, Alba, Hainan, AFP, Irish, Terrebonne , Quebec, American, Celtic Manor, Wales, Augusta

☆ Lululemon cuts guidance, misses sales estimates after botched product launch
▼ + stars: | 2024-08-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Lululemon lowered its guidance and posted its first revenue miss in more than two years on Thursday after it botched a highly anticipated product launch and growth slowed in the Americas. Lululemon anticipates earnings per share will be in a range of $13.95 to $14.15, down from previous guidance of $14.27 to $14.47. Beyond total sales, Lululemon also missed expectations on comparable sales, which grew 2%, well behind estimates of 5.9%, according to StreetAccount. During the quarter, Lululemon pulled its Breezethrough leggings, launched in early July, after it received a wave of complaints about the product's unflattering fit. Lululemon's product challenges follow the departure of its longtime chief product officer, Sun Choe, who resigned in May to pursue another opportunity.

Persons: Lululemon, Calvin McDonald, McDonald, Lululemon's, Sun Choe, Jonathan Cheung, Nikki Neuburger, Neuberger, Gross Organizations: Lululemon Athletica, LSEG Locations: New York, Americas, U.S, China

☆ Subway announces a new price for footlongs as it enters the value menu wars
▼ + stars: | 2024-08-23 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —It’s not $5, but Subway is bringing back cheap footlongs and joining the fast food value menu wars. Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s the privately held chain’s latest attempt at luring back customers who are balking at rising fast food prices and spending less when they do go out. Subway is owned by a private equity firm and doesn’t often reveal sales like its publicly traded rivals. Technomic data shows that Subway also lags in sales for sides and snacks compared to its competitors.

Persons: New York CNN — It’s, ”, Burger, “, Doug Fry, Dippers, David Henkes, ” Henkes Organizations: New, New York CNN, Subway, Burger King, Starbucks, Sidekicks, CNN Locations: New York, Subway North America, Technomic

☆ China is Starbucks' 2nd biggest market, but sales are slumping. Here's why.
▼ + stars: | 2024-08-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Comparable store sales, a key measure for the restaurant industry, were down 14% in its most recent quarter. Sales slumpStarbucks' comparable store sales in China have been incredibly volatile over the past five years. But in recent months, they've been hit by cautious consumer spending and increased competition, then-CEO Laxman Narasimhan told investors in July. Luckin Coffee, Starbucks' biggest rival in China, has nearly three times as many stores as Starbucks in the country after monumental unit growth. "We're not interested in entering the price war," Starbucks China CEO Belinda Wong told investors in January.

Persons: —, Brian Niccol, they've, Laxman Narasimhan, Narasimhan, Sherri, Kearney, Luckin, McCafe, KFC's, Dave Xie, Oliver Wyman, Xie, latte, We're, Belinda Wong, Wong, it's, Brian Yarbrough, Edward Jones, Liu Ying Organizations: Service, Starbucks, Business, Bank of America, Bloomberg, Publishing, Getty, Reuters Locations: China, Beijing, Shanghai, Seattle, Luckin, Cotti, Xinhua

☆ Read the college essay a Harvard grad wrote about McDonald's that landed him offers from Harvard, Yale, and Princeton
▼ + stars: | 2024-08-21 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +4 min

Read previewWhen Jeffrey Wang was a high-school senior in Connecticut in 2014, he wasn't sure what to write about for his college application essay. AdvertisementHe wanted to show his personalityHe read Harry Bauld's book, 'On Writing the College Application Essay,' which made him realize college admissions officers wouldn't have time to read each essay diligently. Authenticity is keyThe essay summarizes how Wang discovered his local McDonald's was an ideal place to study and meditate. AdvertisementHe got into Yale, Harvard, and PrincetonGrowing up, Wang dreamed of attending Yale in his home state of Connecticut. AdvertisementDo you have a college admissions success story?

Persons: —, Jeffrey Wang, he'd, Wang, Harry Bauld's, wouldn't, they're, they'd, you'll, Ella Hopkins Organizations: Service, Business, Yale, Harvard, Princeton, Duke, MIT Locations: Connecticut, Cheshire , CT, McDonald's, San Francisco, ehopkins

☆ BurgerFi is in big trouble and may go out of business
▼ + stars: | 2024-08-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —BurgerFi, the fast-casual burger chain and owner of Anthony’s Coal Fired Pizza, is running out of cash – and options. Because of the lack of cash, BurgerFi is uncertain if it can continue to operate its 60 pizza stores and 102 burger restaurants. Food prices have also hurt BurgerFi – the company cited a price increase in chicken wings and higher wages for its increase in operating expenses. BurgerFi first rang the alarm in May, when it announced it was going over “strategic alternatives” due to its liquidity challenges. BurgerFi (BFI) went public in 2020, and its stock has dropped almost 60% year to date.

Persons: New York CNN — BurgerFi, Burger, wouldn’t, BurgerFi, it’s, There’s Organizations: New, New York CNN, Anthony’s, SEC, CNN Locations: New York

Tim Walz defends his military record. Walz defends his military recordDemocratic vice presidential nominee Tim Walz defended his military record during his first solo event on the campaign trail. Vance asserted Walz misrepresented his military record; Walz said he misspoke. Ernesto expected to strengthen into a hurricaneTropical Storm Ernesto on Aug. 13, 2024. Staff Pick: Laci Peterson case back in the spotlightLaci Peterson and Scott Peterson in an undated photo.

Persons: Tim Walz, Walz, ”, Sen, JD Vance, Vance, Donald Trump, Joe Biden, nudging Trump, Chuck Todd, Kamala Harris, Ernesto, Ilhan Omar, Minnesota, Eric Hovde, Democratic Sen, Tammy Baldwin, Laci Peterson, Scott Peterson, Peterson, — Chelsea Stahl, Benjamin Netanyahu, Elvis Presley’s, Elizabeth Robinson Organizations: Labor Statistics, Federal Reserve, Democratic, Minnesota, NBC, Trump, GOP, NOAA, Getty Images Schools, NHC, U.S ., Wisconsin Republican, Senate, Modesto Police Department, Pictures, Israeli, Police Locations: Los Angeles, Ohio, Denver, Boston, Michigan, Asheville , North Carolina, Puerto Rico, Caribbean, British Virgin Islands, U.S . Virgin Islands , Puerto Rico, Vieques, Culebra, California, U.S, Ferguson , Missouri, Tennessee

Economists like to say the cure for high prices is high prices. In other words, consumers eventually start to hold back on spending when they are faced with increasing costs. On Monday, the New York Federal Reserve reported that consumers' three-year inflation outlook hit a record low. Many economists credit the Federal Reserve's decision to raise interest rates starting in the spring of 2022 with helping to curb the upswing. It is that last factor that the Federal Reserve is keenly focused on.

Persons: “, Andrew Jassy, Wells Fargo, Mark Hamrick, ” Organizations: of Labor Statistics, Federal Reserve's, New York Federal Reserve, Federal, Fed, BLS, Gallup, Federal Reserve Locations: U.S, York

☆ 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

☆ How Taco Bell stays cheap
▼ + stars: | 2024-08-14 | by ( Paige Bruton | ) www.businessinsider.com time to read: +1 min

Taco Bell is outperforming its rivals in the fast food industry. The company says it has doubled down on value meals, and it's paying off. Go to newsletter preferences Thanks for signing up! AdvertisementFast food prices have soared in recent years, and while Taco Bell hasn't been immune to these, it's still considered one of the cheaper options. And the company says its focus on value meals has helped to boost sales.

Persons: Taco, —, Taco Bell, it's Organizations: Taco Bell, Service, KFC, Business

☆ Starbucks is struggling. So it hired fast food’s Mr. Fix-It
▼ + stars: | 2024-08-14 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

Brandon Bell/Getty ImagesSo, starting next month, fast food’s fix-it man will work to turn around Starbucks as its new CEO, the company announced on Tuesday. Starbucks’ sales have fallen for two straight quarters. Mobile app and drive-thru orders make up more than 70% of Starbucks’ sales at its approximately 9,500 company-operated stores in the United States. Restaurant analysts say that Starbucks, which has historically done less television advertising than rivals, will use marketing to try to improve customers’ perceptions of Starbucks’ brand and prices. Niccol succeeded adding new menu items to Chipotle, and he will “enable Starbucks to better succeed with menu innovation,” says Charles.

Persons: Chipotle, Brian Niccol, Niccol, carne asada, pollo, Brandon Bell, ” RJ Hottovy, they’re, Bebeto Matthews, ”, Tom Cook, Casey, Mark Lennihan, Cowen, Andrew Charles, Charles Organizations: New, New York CNN, Taco Bell, Starbucks, Investors, CNN Locations: New York, Taco, Chipotle, Mobile, United States

☆ Mars buys Kellanova, maker of Cheez-It and Pringles
▼ + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Mars has agreed to buy Kellanova in a deal that values the maker of Cheez-It and Pringles at almost $29 billion. The mega-deal will create a global snacks behemoth, adding a bevy of new nibbles to Mars’ portfolio of brands, which includes Snickers, M&M’s, and the Mars bar. “The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement. The Kellanova acquisition ranks in the top 10 global food and beverage mergers and acquisitions since 1995, according to Dealogic. The Kellanova deal is expected to close in the first half of next year, subject to shareholder and regulatory approval.

Persons: London CNN — Mars, Kellanova, ” Andrew Clarke, Mars Snacking, —, Burger King, ” Kellanova, Trü, Anna Cooban Organizations: London CNN, Reuters, Kellogg Company, MorningStar, Nestle, McDonald’s, Starbucks, Mars

When 36-year-old Nelson Cheney was little, he began eating spicy peppers and sauces to impress his dad. Cheney, known by his social media handle “@craving_capsaicin” — a nod to the chemical compound that gives chili peppers their heat — got hooked on the adrenaline rush he feels when he eats extremely spicy foods. Both sour and spicy foods generate painful responses, though they activate different nerves in the body. “I’ve got so many people that went from not even eating hot stuff to having a tolerance and now eating spicy food daily. Children and teens tend to be most susceptible to social media challenges, which is why Trucco said parents should pay attention, too.

Persons: Nelson Cheney, Cheney, ” Cheney, “, he’s, ”, Elisa Trucco, Robert Pellegrino, ” Pellegrino, Paul Rozin, That’s, ” Rozin, it’s, Trucco, “ I’ve, ’ cravings, Edwin McDonald, ” McDonald, Chantel Strachan, Strachan, ” Trucco Organizations: Research, Adolescent, Child Health, Florida International University, Senses Center, University of Pennsylvania, University of Chicago Medical Center, Columbia University’s Vagelos, of Physicians and Surgeons Locations: TikTok, Philadelphia, Massachusetts

☆ 'We are doing democracy here': Young voters focus on being polite rather than polarized
▼ + stars: | 2024-08-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mark-Murray-Circle-Byline-Template.Jpg | Mark Murray | ) www.nbcnews.com time to read: +7 min

WASHINGTON — In the heat of the 2024 campaign season, more than 400 first-time voters from across the country gathered here in July to discuss political issues and the upcoming election — but with a focus on being polite rather than being polarized. The gathering was a so-called deliberative poll where the participants were randomly selected to produce a representative sample of young voters from the entire nation. There have been past “America in One Room” studies of the general electorate, but this was the first to specifically examine first-time young voters. And the portion of young voters who opposed drilling in the Artic wilderness increased, from 72% before to 76% afterward. 'I see that point': Young voters gain more respect for differing viewsThe polling results also showed these young voters gaining more respect for differing viewpoints, with the share of participants saying their opponents had good reasons for their positions growing from 64% before the event to 71% afterward.

Persons: WASHINGTON —, Kendall Rene Martin, Tyler Kunkowski, Emily Criswell, Steven Dilts, it’s, ”, Henry Elkus, Helena, “, ” Elkus, Donald Trump, Joe Biden’s, Steven, Tyler, ” Steven, shouldn’t, Emily, ” Tyler, ” Emily, Kendall, didn’t, James Fishkin Organizations: Stanford, Republican, America, Major League Baseball, Young, NBC News, Democrat, “ Locations: WASHINGTON, “ America, California, Florida, Tennessee, Alaska, United States, Paris, America, Kendall of California

☆ Morgan Stanley just added these 3 safe stocks to their 'buy' list with the market expected to stay choppy
▼ + stars: | 2024-08-12 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Morgan Stanley has added three new high-quality defensive stocks to its "Fresh Money Buy List." AdvertisementMorgan Stanley expanded its list of recommended equities with three high-quality stocks, as the bank veer further into defensive positioning. These names could help shield against ongoing macro uncertainty, which Morgan Stanley does not expect will resolve anytime soon. Morgan Stanley holds an Overweight rating on the company, with a price target of $211 per share. (3) Northrop GrummanNOC, the defense and aerospace company, joined Morgan Stanley's list as a premium equity for exposure to industrials.

Persons: Morgan Stanley, —, Consumer Staples, Wilson, Public Service Enterprise Group Morgan Stanley, Morgan Stanley's Organizations: Service, Federal, Healthcare, Consumer, Public Service Enterprise Group, Northrop Grumman NOC, Verizon, Walmart Locations: Real

☆ VIDEO: LA earthquake interrupts ESPN show with Malika Andrews, radio show with Travis Rogers and Allen Sliwa, and podcast with Heather McDonald
▼ + stars: | 2024-08-12 | by ( Demetrius Pipkin | ) edition.cnn.com time to read: 1 min

How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues

Record numbers of travelers have been flooding airports since the pandemic, but U.S. airlines now face a surplus of empty seats after racing to add capacity. “Deals are easier to find this summer since prices are already so low,” said Hayley Berg, lead economist at the travel booking site Hopper. For clients with a little flexibility in their travel dates, I’ve been able to get very low airfare for last-minute trips. Ashley D’Aristotile, owner of Flyaway TravelThe discounts expand the map for late-season travelers and coincide with a broader value push this summer. Domestically, the Southeast is seeing some of the best bargains, according to Priceline, with both Miami and Nashville making its “most affordable” list for August.

Persons: ”, Hayley Berg, Hopper, I’ve, Ashley D’Aristotile, Debra Banton, Rachel, Banton, she’s, Kimberly Hilliard, haven’t, Jesse Neugarten, Lousson Smith Organizations: Flyaway, Dollar, Miami, Nashville Locations: U.S, Chicago, Baltimore, New York, Nashville, Priceline, McDonald’s, Charleston , South Carolina, Europe, Greece, Athens, Annapolis , Maryland, Orlando , Florida, Boston, Dublin, Paris

☆ Restaurant CEOs’ new favorite word is value as they aim to bring back customers
▼ + stars: | 2024-08-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

"The word 'value' has received a lot of airtime in the past few months," Josh Kobza, the CEO of Burger King parent company Restaurant Brands International , said on Thursday. Value for shareholdersA drive-through area of a Burger King restaurant in Peoria, Ill. Daniel Acker | Bloomberg | Getty ImagesCompanies aren't just thinking about offering value for customers — they're also thinking about shareholder value. For example, Burger King was one of the first chains to unveil a $5 value meal this summer. When its rivals followed suit with their own $5 discount deals, the Restaurant Brands chain didn't see any clear impact to its business. "There are actually some positives to the focus on value across the industry," Restaurant Brands' Kobza told CNBC.

Persons: Mario Tama, McDonald's, Josh Kobza, Burger, There's, Taco Bell, Papa, Ravi Thanawala, Chris Kempczinski, Richa Naidu, Kempczinski, it's, Brian Niccol, Adam Jeffery, Niccol, John Peyton, IHOP, It's, Peyton, Daniel Acker, — they're, They're, Burger King, Kobza Organizations: Getty, Taco Bell, Yum Brands, Restaurant Brands, Bureau of Labor Statistics, Burger King, Reuters, Grill, CNBC, Brands, Peoria , Ill, Bloomberg, Starbucks, U.S Locations: Burbank , California, Burger King, Oak Brook , Illinois, Peoria ,

☆ McDonald’s France hints at pulling classic curry sauce after
▼ + stars: | 2024-08-11 | by ( Robert Ilich | ) edition.cnn.com time to read: 1 min

☆ Recession Fears Are Fueling Stock Market Crash, Wall Street Chaos
▼ + stars: | 2024-08-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

While there was some demand for protection against the prospect of volatility reemerging, overall sentiment across Wall Street had gotten more bullish. Until Wall Street can be sure that the consumer will hold on (or not), conviction is easily shaken. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. What happened on Monday was a sudden realization that the new structure may assert itself before Wall Street imagined it would.

Persons: —, Jerome Powell, we've, they'd, corporates, Dow, Mandy Xu, Cboe's, Wall, Torsten Slok, Slok, Shake, Kevin Gordon, Charles Schwab, they've Organizations: Dow Jones, Bank of Japan, Big Tech, Federal Reserve, Nasdaq, Wall, Apollo Global Management, Corporations, Companies Locations: Asia, Japan, Mexico

☆ Missouri voters pass constitutional amendment requiring increased Kansas City police funding
▼ + stars: | 2024-08-09 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Missouri voters have once again passed a constitutional amendment requiring Kansas City to spend at least a quarter of its budget on police, up from 20% previously. “We don’t defund them.”Kansas City leaders have vehemently denied any intention of ending the police department. Kansas City is the only city in Missouri — and one of the largest in the U.S. — that does not have local control of its police department. “We consider this to be a major local control issue,” said Gwen Grant, president of the Urban League of Greater Kansas City. That statute remained in place until 2013, when voters approved a constitutional amendment returning police to local control.

Persons: Sen, Tony Luetkemeyer, “, ”, Gwen Grant, Quinton Lucas, Claiborne Fox Jackson, St . Louis, Lloyd Crow Stark, Tom Pendergast, Lora McDonald, Lucas, defund Organizations: Kansas, “, Republican, ” Kansas City, Kansas City, Urban League of Greater, Voters, Gov, Kansas City police, Metro Organization for Racial, Economic Equity, NBC Locations: Missouri, Kansas City, “ In Missouri, ”, Kansas, U.S, Urban League of Greater Kansas City, St ., United States, Jefferson City

☆ Customers didn’t stop spending. Companies stopped serving
▼ + stars: | 2024-08-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

It’s called a sector rotation, and it happens all the time as part of the natural course of a business cycle. The US economy is still pretty strong, growing at an annualized rate close to 3% in the most recent quarter. But it’s not as if Americans have stopped going to restaurants — they’re just being a bit more discerning when they do. Instead, they’re going to Texas Roadhouse, where they can sit down and have some service with their meal. Or they’re swinging through Chipotle, which saw sales shoot up 11% last quarter at stores open at least a year.

Persons: CNN Business ’, they’ve, that’s, it’s, they’re, ”, Mark Hoplamazian, Marriott’s, Disney, Hugh Johnston, — they’ve, Pete Werner, wouldn’t Organizations: CNN Business, New York CNN, Wall, Texas, Disney, CNN, Bloomberg Locations: New York, —, Texas

☆ Retailers are tricking consumers into spending more with earlier-than-ever Halloween rollout
▼ + stars: | 2024-08-09 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

But all the excitement to get a jump start on Halloween comes as consumers are showing more signs of financial stress. Tricking consumers into treating themselves more“It’s clear that consumers have been interested in buying Halloween products earlier and earlier,” said Champine. Michaels said it started selling Halloween goods in June, the earliest the retailer has ever done so. The initial launch of Halloween goods at Michaels “has been consistently beating our internal expectations,” he added. By selling Halloween goods earlier, they’re likely hoping it’ll decrease the likelihood of having to discount, she added.

Persons: can’t, ”, Laura Champine, they’re, Joe Feldman, Michaels, ” John Gehre, Michaels “, ” Kelsey Robinson, Lance Allen, “, ” Allen, David Zalubowski, they’ve, they’ll, Champine, ” Lowe’s, Feldman Organizations: New, New York CNN, Disney, Walt Disney, Loop, Telsey Advisory, CNN, Costco, Consumer, McKinsey, Labor, Depot Locations: New York, Los Angeles, Sheridan , Colorado, Lowe’s

☆ Restaurant Brands revenue tops estimates, fueled by Tim Hortons
▼ + stars: | 2024-08-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Restaurant Brands International on Thursday reported quarterly revenue that beat analysts' expectations, fueled by better-than-expected sales at Tim Hortons and the company's international restaurants. Shares of Restaurant Brands rose 3% in morning trading. Out of Restaurant Brands' four chains, Tim Hortons performed the best, with same-store sales growth of 4.6%. For the second half of the year, Restaurant Brands is expecting same-store sales growth of roughly 2%. Two days before the quarter ended, Restaurant Brands completed its acquisition of Popeyes China, which will be included in its results next quarter.

Persons: Tim Hortons, Josh Kobza, we've, Popeyes, Burger, Kobza Organizations: Lakeside, United Kingdom . Restaurant Brands, Brands, LSEG, Burger King, U.S, Firehouse, Burger, Restaurant Brands, Holdings Locations: Grays, United Kingdom, Burger, Brazil, Australia, Japan, China, Carrols

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