DIRS.INFO The most relevant business & tech news

☆ Restaurant executives can't wait for 2025 after slow traffic and wave of bankruptcies
▼ + stars: | 2024-11-17 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

After a tough year for the restaurant industry, executives can't wait for 2025 to start. And many of the nation's largest restaurant chains, from McDonald's to Starbucks , have disappointed investors with same-store sales declines for at least one quarter. But green shoots have appeared, fueling tepid optimism for the future of the restaurant industry. Plus, interest rates are finally falling. For restaurants, lower interest rates mean that it's cheaper to finance new locations, fueling growth.

Persons: Kate Jaspon, Dunkin, Burger Organizations: Inspire Brands, Restaurant Finance, Development Conference, Intelligence, Starbucks, Revenue Management Solutions, Burger King, Restaurant Brands, Federal Reserve Locations: Las Vegas, McDonald's

☆ Burger King parent Restaurant Brands falls short of third-quarter expectations
▼ + stars: | 2024-11-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A new Burger King restaurant under construction in Tortosa, Spain, following the current expansion of Restaurant Brands International Inc. - the parent company of BK- in new and existing markets. Restaurant Brands International on Tuesday reported quarterly earnings and revenue that missed analysts' expectations as domestic same-store sales growth for all four of its chains fell short of Wall Street estimates. Burger King, Firehouse Subs and Popeyes all reported same-store sales declines in their home markets. But the Canadian coffee chain still fell short of Wall Street's same-store sales growth expectations of 4.1%, based on StreetAccount estimates. Outside of the U.S. and Canada, Restaurant Brands' international same-store sales rose 1.8% in the quarter, just shy of estimates of 2.2%.

Persons: Burger, Popeyes, Tim Hortons Organizations: Burger King, Restaurant Brands, Inc, BK, LSEG, Brands Locations: Tortosa, Spain, China, U.S, Canada

☆ Yum Brands earnings miss estimates as KFC, Pizza Hut report same-store sales declines
▼ + stars: | 2024-11-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Yum Brands on Tuesday reported quarterly earnings and revenue that missed Wall Street's expectation as same-store sales at KFC and Pizza Hut slid more than expected. Yum's worldwide same-store sales fell 2% in the quarter, dragged down by weaker performances at KFC and Pizza Hut, which both reported same-store sales declines of 4%. KFC's U.S. same-store sales slid 5% this quarter. The pizza chain saw its international same-store sales shrink 6%, while U.S. same-store sales fell just 1%. Taco Bell, the gem of Yum's portfolio, reported same-store sales growth of 4%.

Persons: Yum, David Gibbs, Popeyes, Taco Bell Organizations: Yum Brands, KFC, LSEG, KFC's, U.S Locations: China, U.S

☆ 7 ways that Starbucks CEO Brian Niccol plans to change the coffee chain
▼ + stars: | 2024-10-31 | by ( Amelia Lucas | ) www.cnbc.com time to read: +8 min

Niccol wants to change that. Cutting back an 'overly complex' menuSpain, Barcelona, Plaza de Francesc Macia, Starbucks, coffee shop customer ordering. While the changes may disappoint some customers, Niccol said he thinks that they'll appreciate faster, more consistent service in the long run. Bringing back the condiment barsStarbucks brown sugar sachets are seen in Starbucks Coffee in Krakow, Poland on November 4, 2022. Better staffing in cafesMerida, Mexico, Zona Paseo Montejo Centro, Starbucks Coffee shop, baristas and cashier at work smiling.

Persons: Brian Niccols, Brian Niccol, Rachel Ruggeri, Niccol, Lindsey Nicholson, Macia, Jeff Greenberg, Etienne Laurent, we've, Beata Zawrzel, baristas, Taco Bell, Chipotle, Tressie Lieberman, Almond Organizations: Starbucks, CNBC, Mobile, UCG, Getty, Plaza, Universal, AFP, Nurphoto, Zona Paseo, Centro, Starbucks Rewards, Procter & Gamble, Yum Brands Locations: U.S, Queens , New York, Spain, Barcelona, Manhattan Beach , California, Starbucks Coffee, Krakow, Poland, Merida, Mexico

☆ Starbucks' plan to return to its roots involves 200,000 Sharpies
▼ + stars: | 2024-10-31 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Some customers think the coffee chain has drifted too far from its core, according to Niccol. He's betting that more personal touches — including bringing back Sharpies to write customer names or messages on cups — will bring customers back to cafes. Starbucks CEO Brian Niccol said the coffee chain plans to buy roughly 200,000 Sharpie markers as part of his plan to take the coffee chain back to its roots. For decades, Starbucks positioned itself as a place to linger, but the company has lost that sheen over the years. Shares of Starbucks have risen roughly 1% this year, trailing the S&P 500's gains of 22%.

Persons: Sharpies, Brian Niccol, Niccol, we've, CNBC's, it's, — CNBC's Jacqueline Corba Organizations: Starbucks, Staples Locations: Manhattan , New York, U.S

☆ Starbucks will discontinue Oleato olive oil drinks at U.S. cafes
▼ + stars: | 2024-10-30 | by ( Amelia Lucas | ) www.nbcnews.com time to read: +2 min

Starbucks’ controversial line of olive oil-infused drinks will leave U.S. stores in early November. The lineup of Oleato drinks infused Partanna olive oil into Starbucks’ Caffe Latte, Iced Shaken Espresso and cold foam. Schultz imagined the Oleato line after a trip to Italy, where he saw Sicilians drinking olive oil as a daily ritual. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together. Cafes in China, Italy and Japan will continue to serve the Oleato drinks.

Persons: Brian Niccol, Howard Schultz, Schultz Organizations: Starbucks, Bloomberg, U.S . Locations: U.S, China, Italy, Southern California, Japan

☆ Starbucks will stop charging extra for dairy substitutes
▼ + stars: | 2024-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks said Wednesday that it will remove the surcharge for dairy substitutes, saving some U.S. customers more than 10% on their drinks. Substituting a nondairy milk is the second-most requested customization from customers, trailing only adding a shot of espresso, according to Starbucks. Currently, Starbucks customers can already add up to 4 ounces of a dairy substitute at no extra charge to hot or iced brewed coffee or tea, cold brew and Americano drinks. Starbucks first started serving nondairy milk in 1997, when it added soy milk to menus. In March, three lactose-intolerant women sued Starbucks in federal court, alleging that the surcharge discriminated against customers with allergies.

Persons: Brian Niccol, Niccol, James Cromwell Organizations: Starbucks, Chipotle, Americano, PETA Locations: U.S, New York City

☆ Starbucks CEO pledges to fundamentally change strategy as sales fall for third straight quarter
▼ + stars: | 2024-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

"It is clear we need to fundamentally change our strategy to win back customers," CEO Brian Niccol said in a statement. Shares of the company fell 1% in extended trading on Wednesday. The company's global same-store sales fell 7%, fueled by weak demand in the U.S. and China. The company's U.S. restaurants reported same-store sales declines of 6%, fueled by a 10% tumble in traffic. In China, the company's same-store sales plummeted 14% as both traffic and average ticket fell.

Persons: Brian Niccol Organizations: Starbucks, LSEG Locations: U.S, China

☆ Starbucks will discontinue Oleato olive oil drinks at U.S. cafes in early November
▼ + stars: | 2024-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks' controversial line of olive oil-infused drinks will leave U.S. stores in early November. The decision to remove the Oleato drinks from domestic menus predates newly installed CEO Brian Niccol, who arrived at Starbucks in early September, a company spokesperson said. The lineup of Oleato drinks infused Partanna olive oil into Starbucks' Caffe Latte, Iced Shaken Espresso and cold foam. Schultz imagined the Oleato line after a trip to Italy, where he saw Sicilians drinking olive oil as a daily ritual. He, too, began drinking olive oil alongside his daily coffee and decided that Starbucks should try to mix the two together.

Persons: Brian Niccol, Howard Schultz, Schultz Organizations: Starbucks, Bloomberg, U.S . Locations: U.S, China, Italy, Southern California, Japan

☆ Chipotle Mexican Grill is about to report earnings. Here's what to expect
▼ + stars: | 2024-10-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A customer holds a bag of food outside of a Chipotle restaurant in New York on Jan. 12, 2024. Chipotle Mexican Grill is set to report its third-quarter earnings after the bell on Tuesday. Despite the unexpected executive shuffle, Wall Street is confident Chipotle can maintain its winning streak — at least in the near term. Analysts expect the company will report same-store sales growth of 6.3%, according to StreetAccount estimates. For the full year, Chipotle is projecting same-store sales will grow by a mid- to high-single-digit percentage.

Persons: LSEG, Brian Niccol, Scott Boatwright, Chipotle, Niccol Locations: New York

☆ McDonald's reverses U.S. same-store sales declines in the third quarter, but E. coli fallout looms
▼ + stars: | 2024-10-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's on Tuesday reported quarterly earnings and revenue that beat analysts' expectations as its U.S. restaurants reversed last quarter's same-store sales decline. It's the second straight quarter that the company's same-store sales have fallen. U.S. same-store sales rose 0.3%, reversing last quarter's same-store sales declines but still slightly weaker than the 0.5% increase predicted by StreetAccount estimates. The company's two international divisions both reported steeper declines in same-store sales compared with the prior quarter. The international developmental licensed markets division reported same-store sales declines of 3.5%, driven by weak demand in the Middle East and China.

Persons: McDonald's, Ian Borden, Chris Kempczinski, Kempczinski Organizations: Health, LSEG Locations: France, Germany, Australia, East, China

☆ McDonald's executives say E. coli outbreak is 'behind us'
▼ + stars: | 2024-10-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

A week after health authorities publicly linked a deadly E. coli outbreak to McDonald's Quarter Pounder burgers, the company's CEO, Chris Kempczinski, told investors that the situation is now behind them. On Sunday, McDonald's said Quarter Pounder burgers would return to the roughly 900 restaurants where the company had pulled the menu item following the outbreak. McDonald's has stopped sourcing onions from the supplier indefinitely and will return the Quarter Pounder to menus sans slivered onions. As of Friday, 75 health cases across 13 states have been tied to the outbreak, including one death of an older adult. At least three lawsuits have already been filed against McDonald's by victims of the outbreak.

Persons: Chris Kempczinski, we've, Kempczinski, McDonald's, Ian Borden, Borden Organizations: and Drug Administration

☆ McDonald's Quarter Pounder burgers to return to restaurants affected by E. coli outbreak
▼ + stars: | 2024-10-27 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

A double quarter pounder with cheese and fries arranged at a McDonald's restaurant in El Sobrante, California, US, on Wednesday, Oct. 23, 2024. McDonald's Quarter Pounder burgers will return to roughly 900 restaurants this week after the fast-food giant pulled the menu item linked to a deadly E. coli outbreak . Instead, health authorities have honed in on slivered onions used in the Quarter Pounders as the likely suspect for the outbreak. Over a two-week period, McDonald's typically sells roughly one million Quarter Pounders in the affected region, according to company spokespeople. Shares of the company have fallen 7% since the CDC linked the E. coli outbreak to its restaurants.

Persons: Pina, Cesar Pina, Taylor, McDonald's, Joe Erlinger Organizations: The Colorado Department of, McDonald's, Drug Administration, Disease Control, Prevention Locations: El Sobrante , California, U.S, Colorado , Kansas, Wyoming, Idaho , Iowa , Missouri, Montana , Nebraska , Nevada , New Mexico , Oklahoma, Utah, Colorado

One of the patients in the McDonald's outbreak suffered from that condition, known as hemolytic uremic syndrome. Hedberg is also a member of the McDonald's Food Safety Advisory Council, but said he has not worked with the company on its response to the outbreak. The size of the outbreak "would imply widespread undercooking by many different individual McDonald's restaurants" if beef was the culprit, according to Hedberg. For example, rival Wendy's dealt with its own link to an E. coli outbreak two years ago. However, that transparency means more media coverage, which reminds consumers about the crisis and risks scaring them away from McDonald's restaurants.

Persons: Michael M, Taylor, it's, spokespeople, McDonald's, Thomas Jaenisch, There's, Xiang Yang, Yang, Craig Hedberg, Hedberg, Jaenisch, Wendy's, Eric Gonzalez, Jack, Chipotle, Gonzalez, Joe Erlinger, Erlinger, Jo, Ellen Pozner, Darin Detwiler, Detwiler, Bill Marler, Marler, Clarissa DeBock, Eric Stelly Organizations: Santiago, Getty, for Disease Control, Taylor, Foods, . Foods, McDonald's, CDC, Colorado School of Public Health, University of California, Food Safety Center of Excellence, Food Safety Advisory, Food and Drug Administration, U.S . Department of Agriculture's, Inspection Service, CNBC, Media, USA, Santa Clara University Leavey School of Business, Northeastern University Locations: Flatbush, Brooklyn, New York City, California, Davis, Colorado, U.S, Minnesota, McDonald's U.S, Nebraska, Greeley , Colorado

A deadly E. coli outbreak linked to McDonald 's Quarter Pounders has led to 75 cases in 13 states, the Centers for Disease Control and Prevention said Friday, as it investigates the source of the spread. All of the 42 people who were interviewed by the CDC reported eating at McDonald's, while 39 people reported eating a beef hamburger, the agency said. Quarter Pounder hamburgers are a core menu item for McDonald's, raking in billions of dollars annually. As the CDC and other federal agencies trace cases and work to contain the outbreak, McDonald's has pulled Quarter Pounders from restaurants in the affected areas. Experts told CNBC that barring a more serious crisis, the damage to its brand may be minimal, as with an E. coli outbreak linked to Wendy's two years ago.

Persons: McDonald, McDonald's, Burger, Taco Bell, McDonald's spokespeople, Price Organizations: Centers for Disease Control, Prevention, CDC, Health, KFC, Taco, McDonald's, Wall Street, CNBC Locations: Colorado, McDonald's, Colorado , Kansas , Utah , Wyoming, Idaho , Iowa , Missouri, Montana , Nebraska , Nevada , New Mexico, Oklahoma, California, McDonald's U.S

☆ Yum Brands pulls onions from select Taco Bell, KFC and Pizza Hut locations after McDonald's E. coli outbreak
▼ + stars: | 2024-10-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A sign is posted in front of a Taco Bell restaurant in Richmond, California, on May 1, 2024. Yum Brands has pulled onions from some Taco Bell, KFC and Pizza Hut locations following an E. coli outbreak tied to McDonald's. "As we continue to monitor the recently reported E. coli outbreak, and out of an abundance of caution, we have proactively removed fresh onions from select Taco Bell, Pizza Hut and KFC restaurants," a Yum Brands spokesperson said in a statement to CNBC. U.S. Foods does not distribute onions for McDonald's restaurants, and the burger chain has not publicly named Taylor Farms as a supplier. In response to the outbreak, McDonald's has pulled Quarter Pounders from roughly a fifth of its U.S. restaurants.

Persons: Yum, Taylor, McDonald's, CNBC's Kate Rogers Organizations: Taco Bell, Yum Brands, KFC, CNBC, Foods, Taylor, ., Disease Control Locations: Richmond , California, Taco, Colorado , Nebraska, Wyoming

☆ Coca-Cola tops earnings estimates, as higher prices offset sluggish demand
▼ + stars: | 2024-10-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Coca-Cola on Wednesday reported quarterly earnings and revenue that topped analysts' expectations, thanks to a boost from higher prices that offset sluggish demand. Unit case volume fell 1% in the quarter, driven by weakening demand in some international markets. Consumer companies, including Coke, have reported in recent months that customers are more price sensitive, leading to sluggish demand for its products as prices remain high. Pepsi said volume for its North American beverage business fell 3% in its third quarter, fueled by weakening demand for energy drinks. Coke is projecting a low-single-digit headwind for comparable revenue and a mid-single-digit headwind for earnings per share.

Persons: Coke, Quincey Organizations: LSEG, Consumer, PepsiCo, Quaker Foods, Pepsi, CPI Locations: U.S, North America, Chico, Europe, Middle East, Africa, Asia, Pacific, China, Turkey, Latin America, Argentina

☆ CDC told McDonald's about potential E. coli outbreak late last week
▼ + stars: | 2024-10-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

The Centers for Disease Control and Prevention told McDonald's late last week about a potential link to an E. coli outbreak, company spokespeople said Wednesday. As of Tuesday, the CDC has attributed 49 cases and one fatality across 10 states to the outbreak, which has been linked to McDonald's Quarter Pounder burgers. Roughly a fifth of McDonald's U.S. restaurants are not selling Quarter Pounder burgers at this time. The fast-food chain issued a statement on the outbreak Tuesday evening, shortly after the CDC issued its advisory. Over a two-week period, McDonald's typically sells roughly one million Quarter Pounders in the affected region, the company spokespeople said.

Persons: McDonald's, spokespeople, Cesar Pina Organizations: Disease Control, CDC, U.S . Department of Agriculture, U.S . Food, Drug Administration, McDonald's, North Locations: U.S, McDonald's U.S, Colorado , Kansas , Utah , Wyoming

☆ Coca-Cola CEO says McDonald's E. coli outbreak won't hurt beverage company's sales
▼ + stars: | 2024-10-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Coca-Cola CEO James Quincey said the company doesn't expect an E. coli outbreak linked to McDonald's to hurt the beverage company's sales. McDonald's is Coke's largest restaurant customer, and the two companies' symbiotic relationship has existed for nearly seven decades. On Tuesday, the Centers for Disease Control and Prevention announced that it has linked an E. coli outbreak in 10 states to McDonald's Quarter Pounder burgers. Both ingredients are unique to the Quarter Pounder burgers, although cooking the patty at the correct internal temperature should kill the bacteria. The outbreak comes as consumers broadly have been spending less at restaurants, hurting both McDonald's and Coke.

Persons: James Quincey, Quincey, McDonald's, Coke, it's, Joe Erlinger Organizations: Cola, Olympic Committee, China Mengniu Dairy, International Olympic Committee, CNBC, Centers for Disease Control, Prevention, CDC Locations: China, SwissTech, Lausanne, Colorado , Kansas , Utah, Wyoming, McDonald's, Coke

☆ 'Swicy' items take over restaurant menus as Gen Z seeks heat
▼ + stars: | 2024-10-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Nearly 10% of restaurant menus have "sweet and spicy" items, up 1.8% over the last 12 months, according to market research firm Datassential. Common menu items have paired fruity flavors and chili powder, or used sauces like hot honey and gochujang, a red chili paste that's a popular Korean condiment. Courtesy: StarbucksAlthough the menu items were largely only available for a limited time, culinary experts think that the swicy trend has staying power. Buzzy, trendy menu items are more important now to restaurants, which are leaning on both discounts and innovation to attract diners and reverse declining sales. Limited-time menu items are particularly attractive to Gen Z customers, a key demographic because they account for roughly a fifth of Americans.

Persons: Randy Shropshire, trendologist Kara Nielsen, Nielsen, Jeffrey Saad, Hadar Cohen Aviram, McCormick, Cohen Aviram, Gen Zwicy Organizations: Coca, Getty, Food Institute, Box Intelligence, Sweet, Food Network, Istock, Nielsen, McCormick Locations: Chico, Thermal , California, U.S, San Francisco, Korean, Cholula

☆ McDonald's that hosted Trump gets influx of one-star reviews, forcing Yelp to disable comments
▼ + stars: | 2024-10-22 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024. Yelp temporarily disabled new reviews on the Feasterville, Pennsylvania McDonald's that former President Trump visited on Sunday, following an influx of unusual comments describing the former President's criminal convictions, demeanor and customer service skills with mostly one-star reviews. The comments varied in content, jest and vulgarity, with some criticizing the franchise owner for hosting the Trump campaign. One five-star review from Monday said, "The best McDonalds I've ever been to in 47 years. More than 145 reviews had already been posted before Yelp paused commenting using its Unusual Activity alert yesterday.

Persons: Donald Trump, Yelp, Trump, Noorie Malik, Derek Giacomantonio, Trump's, CNBC's Amelia Lucas Organizations: McDonalds, Trump, Safety, U.S, CNBC Locations: Feasterville, Trevose , Pennsylvania, U.S, Pennsylvania, Yelp, McDonald's

☆ Starbucks shares slide after coffee chain says sales fell again, suspends outlook
▼ + stars: | 2024-10-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Starbucks on Tuesday posted preliminary quarterly results that showed its sales fell again as the coffee chain tries to execute a turnaround. Niccol said he plans to share more details on the steps Starbucks is taking to turn around the business on the company's earnings call, scheduled for Oct. 30. The coffee chain's new CEO aims to reverse slowing demand for Starbucks' drinks, starting with its largest market: the U.S. The company's preliminary net sales fell 3% to $9.1 billion. Shares of the company fell more than 3% in extended trading on the announcement.

Persons: Brian Niccol, Niccol, LSEG Organizations: Starbucks, refocusing

☆ Chick-fil-A is releasing its own entertainment app, with family-friendly shows and podcasts
▼ + stars: | 2024-10-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

A sign hangs outside of a Chick-fil-A restaurant on May 06, 2021 in Chicago, Illinois. Chick-fil-A plans to launch a new app on Nov. 18, with a slate of original animated shows, scripted podcasts, games, recipes and e-books aimed at families. And for the last five years, it's released animated shorts on YouTube during the holiday season as part of its "Stories of Evergreen Hills" series. Why Chick-fil-A is betting on contentPeople walk past a Chick-fil-A restaurant on 8th Avenue on December 30, 2023, in New York City. Restaurants as media brandsA Chick-fil-A meal is displayed at a Chick-fil-A restaurant on June 01, 2023 in Novato, California.

Persons: Scott Olson, –, it's, We've, we've, Dustin Britt, Chick, Gary Hershorn, Khalilah Cooper, McDonald's, Cooper, We're, Britt, Justin Sullivan Organizations: Getty, U.S, YouTube, CNBC, Evergreen, Corbis, Lions Locations: Chicago , Illinois, mealtime, Evergreen Hills, New York City, Novato , California

☆ McDonald's tells U.S. restaurants it's not a 'political brand' after Trump visit
▼ + stars: | 2024-10-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024. Though President Donald Trump visited a Pennsylvania McDonald's location on Sunday, the fast-food giant is trying to stay neutral in the presidential race. Trump often accuses Harris of lying about working at McDonald's for a summer in her twenties, but has offered no proof backing up the claim. "Though we are not a political brand, we've been proud to hear former President Trump's love for McDonald's and Vice President Harris's fond memories working under the Arches," McDonald's said. To quell the controversy, McDonald's U.S. President Joe Erlinger wrote an open letter and released fact sheets about the company's pricing.

Persons: Donald Trump, we've, Trump, Kamala Harris, Harris, Trump's, McDonald's, Derek Giacomantonio, Davidson, Joe Erlinger, CNBC's Kate Rogers Organizations: McDonalds, CNBC, Corporate America, Ford, Gallup, University of Bentley Locations: Feasterville, Trevose , Pennsylvania, U.S, Pennsylvania, , Pennsylvania, McDonald's, Connecticut

☆ Procter & Gamble earnings beat estimates, but weak demand in China hurts sales
▼ + stars: | 2024-10-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Procter & Gamble on Friday reported weaker-than-expected revenue as lower demand in China again weighed on its sales. The company reported flat volume for the quarter. The metric excludes pricing, which makes it a more accurate reflection of demand than sales. The company called out volume declines in China for both its hair care and oral care segments. Both P&G's health care and baby, feminine and family care divisions both reported 1% declines in volume for the quarter.

Persons: Gamble, Andre Schulten, Schulten Organizations: Procter, LSEG, SK, Gillette, Venus Locations: China, U.S, Greater China

Search resuls for: "Amelia Lucas"

25 mentions found