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While keeping his outperform rating, Vijay Rakesh chopped $10 off his price target to $145. The Oreo maker should see above-average earnings growth, Jordan said, and the stock itself is a high-quality core holding. — Alex Harring 5:50 a.m.: UBS lays out earnings expectations for Nvidia UBS is remaining bullish on Nvidia heading into the artificial intelligence giant's earnings report. Analyst Timothy Arcuri reiterated his buy rating and $150 price target heading into earnings expected later this month. His price target of $23, up from $20, implies a gain of 28.3% over the next 12 months.

Persons: Piper Sandler, Vijay Rakesh, Rakesh, Alex Harring, Shaun Kelley, Kelley, — Alex Harring, Eli Lilly, Eli Lilly's, James Shin, Shin, Jefferies, Samad Samana, Samana, Goldman, Goldman Sachs, Mills, Leah Jordan, Jordan, Kraft Heinz, Timothy Arcuri, Arcuri, Patrick Moley, Morley, HOOD, Fred Imbert Organizations: CNBC, UBS, Mizuho, Micron, Seagate Technology, Western, Bank of America, Gaming, Consumer, Terre Haute, Kentucky Derby, Deutsche Bank, Par Technology, Jefferies, Conagra Brands, Hershey, Nvidia UBS, Nvidia Locations: Churchill, Northern, Northern Virginia, Kentucky, Robinhood

☆ Monday's rapid fire: KeyCorp, Robinhood, Prologis, Qualcomm and General Mills
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday's rapid fire: KeyCorp, Robinhood, Prologis, Qualcomm and General MillsCNBC's Jim Cramer on Monday discussed five stocks outside the Investing Club portfolio, including KeyCorp and General Mills.

Persons: Mills CNBC's Jim Cramer, Mills Organizations: Qualcomm, Club Locations: Prologis

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ These 10 stocks usually rise when Nvidia shares fall
▼ + stars: | 2024-08-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Several stocks in the S & P 500 often rise whenever Nvidia shares fall, according to a CNBC Pro analysis. CNBC Pro screened for stocks in the S & P 500 that were inversely correlated to Nvidia's over July, a month in which the chip maker's stock declined by 11.6%. By comparison, the S & P 500 notched a 1.1% gain, while the tech-heavy Nasdaq Composite eased 0.8%. A correlation of 0 would indicate no statistical link between Nvidia's stock and the share price of the other companies. The below table highlights the 10 stocks in the S & P 500 with the strongest inverse correlation with Nvidia's share price over the first week of August.

Persons: Dr Pepper, General Mills, Dickinson, Lockheed Martin, Northrop, Russell, Morgan Stanley, Goldman Sachs, — CNBC's Arjun Kharpal, Lisa Kailai Han, John Melloy Organizations: Nvidia, CNBC, Xcel Energy, Co, Northrop Grumman, CNBC Pro, Nasdaq Locations: U.S, Becton, lockstep

With nearly three-fourths of the S & P 500 reporting second-quarter results, the earnings picture for the back half of the year is looking unusually complicated. It's been a 'meh' quarter so far We have the usual beat on bottom-line earnings, but revenue beats are below expectations. Most companies are beating on earnings estimates but are declining to hike full-year guidance beyond the beat. Plenty of complaints about a slowing China consumer A weak China economy has been a significant headwind for a number of global companies this season. Procter & Gamble's China sales tumbled 8% from a year ago as consumer spending slowed.

Persons: It's, Sherwin, Williams, Lockheed Martin, Chipotle, Isaac, CDW, Clorox, – Hershey, Kraft Heinz, Mondelez, General Mills, Smucker, McDonald's, Wendy's, Bob, Wyndham, Mills, Marriott, LVMH, haven't Organizations: GE Aerospace, Hasbro, Lockheed, Verizon, Mattel, IBM, Juniper Networks, Enphase Energy, NXP Semiconductors, Accenture, Oracle, Procter, Gamble, PepsiCo, ConAgra Brands, Bank of America, MGM Resorts, Comcast, Marriott, Airlines, Allegiant, Ryanair, Gamble's, Starbucks, Visa, Nike, Vegas Sands Locations: J.M, Atlantic City, China, Gamble's China, Greater China, Japan, Macao, Marina, Sands, Singapore

☆ Forget Big Tech — stocks like these have the biggest upside potential in a volatile market, investor says
▼ + stars: | 2024-07-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

"A big tech stock reckoning and correction is inevitable," the chief investment officer told CNBC's " Street Signs Asia " on Tuesday. Calling the euphoria around Big Tech stocks this year "absurd," he said that such excessive investor sentiment and "overdone" momentum "always ends the same." "The biggest risk for the stock market right now is excessive valuations. Such sectors include health care, consumer staples, utilities, and the midstream part of the energy sector, according to him. "The consumers staples sector is being overlooked right now in the market as investors chase returns in the tech sector," he added.

Persons: David Bahnsen, CNBC's, Bahnsen, Mills Organizations: Big Tech, Electric, Gilead Sciences, Mills . American Electric Power, Food Locations: United States, Biopharmaceutical, Gilead

☆ How a Sugar Industry Stamp of Approval Hid Coerced Hysterectomies
▼ + stars: | 2024-07-30 | by ( Megha Rajagopalan | ) www.nytimes.com time to read: +1 min

Bags of sugar that leave the Dalmia Bharat Sugar mill in the western Indian city of Kolhapur come with an industry guarantee: It was harvested humanely, in fields free of child labor, debt bondage and abuse. The mill is certified by a group called Bonsucro, which sets the industry standard for sugar production. But a New York Times investigation found that Bonsucro’s inspections were all but guaranteed not to find problems. Internal documents and interviews with sugar mill executives, experts and Bonsucro contractors show that mills retain tremendous control over what auditors see and whom they can talk to. Even the auditor who said she inspected the Dalmia mill said turning up problems was extremely rare.

Persons: General Mills Organizations: Brands, Cola, PepsiCo, Unilever, General, New York Times Locations: Indian, Kolhapur

☆ These stocks have strong balance sheets as broader market sells off
▼ + stars: | 2024-07-25 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Against this backdrop, Wolfe Research searched for stocks with a high free cash flow yield — that is, a comparison of a company's free cash flow to its market capitalization. Free cash flow refers to the amount of cash leftover after a company has paid its expenses. A higher free cash flow yield means the company is generating more cash, which it can then reinvest back into its business for further growth. With an estimated 2024 free cash flow yield of 5%, Lockheed Martin also made the list. IBM has an estimated 2024 free cash flow yield of 6%.

Persons: Wolfe, Wells, Daniel Politzer, Lockheed Martin, TD Cowen, Cai von Rumohr, Mills Organizations: Wolfe Research, Vegas Sands, Lockheed, Technology, Machines, IBM, Bank of America, Infrastructure, Consulting, Body, Delta Air Lines Locations: Macau, Bath

The third quarter starts on Monday with corporate earnings trends largely intact, but showing early signs of trouble in tech land. The good news: for the big-cap tech companies that are truly dominating the market ( Apple , Microsoft , Alphabet , Nvidia , etc.) Still no recession, in the economy or in earnings So far, we have a deceleration in big-cap tech earnings and clear signs the consumer wants lower prices. Earnings trends for tech may still be rising (even if it is decelerating), but the rest of the market is generally flattish on earnings. Earnings: rising Positive Tech earnings: rising but decelerating Negative Job growth: strong but moderating Positive Interest rates: moderating Positive Inflation: moderating Positive Consumer: increasingly cautious Negative

Persons: Jensen, Nick Raich, it's, Raich, Lori Calvasina, We've, I've, you've, Levi Strauss, General Mills, Tim Wentworth, Taco Bell, Mills Organizations: Apple, Microsoft, Nvidia, Big, Meta, Jensen Huang's, Scout, U.S, Equity, RBC Capital Markets, CNBC, Nike, Walgreens, Micron, FedEx, General, . Companies, Southwest Airlines, Pool Corp, Urban Outfitters, Yum Brands

☆ Your mac and cheese is about to get cheesier, and you can thank the sad state of the economy for it
▼ + stars: | 2024-06-27 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

General Mills will boost product flavors to attract price-conscious customers amid inflation. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The snack and cereal maker said it will improve the taste of some of its biggest products to boost sales as inflation continues to hit consumers. This story is available exclusively to Business Insider subscribers.

Persons: Mills, —, Jeff Harmening Organizations: Service, Business

☆ Stocks making the biggest moves midday: Rivian Automotive, FedEx, Whirlpool and more
▼ + stars: | 2024-06-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

FedEx — Shares of the company moved more than 14% higher after topping Wall Street's fiscal fourth-quarter expectations . The shipping giant earned $5.41 per share, after adjustments, on $22.11 billion in revenue. Analysts polled by LSEG were expecting earnings of $5.35 per share and revenue of $22.07 billion. Aptiv — Shares of the automotive technology company plunged 10% following Piper Sandler's downgrade of the stock to underweight from neutral . Paychex posted adjusted earnings of $1.12 per share, which is above the $1.10 earnings per share that analysts polled by LSEG were expecting.

Persons: LSEG, Bosch, Piper, Mills, Paychex, Grindr, Campbell, —, Alex Harring, Lisa Kailai Han, Scott Schnipper, Sarah Min, Michelle Fox Organizations: Volkswagen Group, FedEx —, Whirlpool —, Reuters, Rivian, MNC Capital Partners, JPMorgan, Campbell

☆ Stocks making the biggest moves premarket: Rivian, FedEx, Whirlpool, Nvidia, Micron and more
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Rivian Automotive — Shares of Rivian Automotive skyrocketed more than 40% after the electric vehicle company secured up to $5 billion in funding from Volkswagen Group. A so-called short squeeze added fuel to the gain as about 19% of the Rivian shares available for trading were sold short before this news, according to FactSet. Nvidia — The chip stock added more than 2%, building on a nearly 7% rebound during Tuesday's session. Aptiv — The automotive technology stock dropped 7% after Piper Sandler downgraded Aptiv to underweight from neutral and cut its price target. Robinhood — Shares added 3%.

Persons: Bosch, Mills, Aptiv, Piper Sandler, Campbell, Ken Goldman, Wolfe, Sarah Min, Lisa Han, Jesse Pound, Michelle Fox Organizations: Rivian Automotive, Volkswagen Group, FactSet, FedEx — FedEx, Whirlpool, Reuters, Southwest Airlines —, Nvidia, Citi Research, Rivian, Volkswagen, JPMorgan, United States Steel, BMO Capital Markets, U.S, Steel, Nippon Steel, Micron Technology Locations: Tuesday's

☆ Stock futures are little changed after S&P 500 ends 3-day decline: Live updates
▼ + stars: | 2024-06-25 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures hovered near the flatline Tuesday evening after the S&P 500 rebounded from a rough start to the week. S&P 500 futures hovered pulled back 0.03, while Nasdaq 100 futures hovered near the flatline. In Tuesday's regular trading, both the S&P 500 and the Nasdaq Composite ended three days of declines, buoyed by a bounce in Nvidia shares. The artificial intelligence darling's market cap gives it tremendous sway over the S&P 500, and its 154% surge in 2024 has raised concerns over a lack of breadth in this year's rally. "We look for the market to broaden out, but it's not necessarily a binary choice between megacaps and smaller caps, but more bias going forward to looking at these other companies in the S&P 500."

Persons: Dow, Paul Hickey, CNBC's, it's, General Mills Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones, FedEx, Rivian Automotive, Volkswagen, Nvidia, Investment Group, Federal, Micron Technology Locations: Paychex

☆ Why Lee Munson 'wouldn't touch' FedEx stock
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Lee Munson 'wouldn't touch' FedEx stockLee Munson, Portfolio Wealth Advisors president and CIO, joins 'The Exchange' to discuss how to trade FedEx, General Mills, and Paychex.

Persons: Lee Munson, General Mills Organizations: FedEx, General

☆ CMOs need to lead strong cross-functional partnerships in order to thrive says Doug Martin of General Mills
▼ + stars: | 2024-06-25 | by ( Julia Hood | ) www.businessinsider.com time to read: 1 min

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☆ Ford steals market share, plus bank stress tests and Pool Corp's ripple effect
▼ + stars: | 2024-06-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

After three sessions of heavy rotation out of tech and AI winners and into other areas of the market, the market has shifted back to tech and momentum leaders. So when cracks are forming in other areas of the market, investors quickly return to where the growth is the strongest: tech. Stress tests: With the annual bank stress test results due out Wednesday after the bell, Jefferies took a look at how bank stocks have fared since 2021 immediately following the release. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan.

Persons: Jim Cramer, John Rainey, Cramer, Ford, Jefferies, Wells Fargo, General Mills, — Morgan Chittum, Jim Cramer's, Jim, Bill Pugliano Organizations: CNBC, Corp, Supply, Pool Corp, Walmart, Union Pacific, Micron, Nvidia, Federal Reserve, Jefferies, FedEx, United States Postal Service, Jim Cramer's Charitable, Ford, Ford Dearborn Plant, Getty Locations: London, Dearborn , Michigan

☆ Cramer's week ahead: Earnings from Micron, Walgreens and General Mills
▼ + stars: | 2024-06-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer guided investors through this week's most important Wall Street action, highlighting earnings reports from Micron , Walgreens and General Mills . Wednesday brings a slew of earnings reports, including Micron , General Mills , Levi Strauss , AeroVironment and Jefferies Financial . Cramer noted some segments that drive General Mills' business — including snacks, cereal and dough — could be vulnerable because of the rising popularity of weight loss drugs. Walgreens will report on Thursday, and Cramer said Wall Street doesn't have great expectations for the company. McCormick also reports that day, and Cramer said analysts are taking down price targets due to sluggish growth.

Persons: CNBC's Jim Cramer, Mills, Cramer, else's, it's, General Mills, Levi Strauss, AeroVironment, Jefferies, Tim Wentworth, McCormick Organizations: Micron, Walgreens, Big Tech, Carnival, FedEx, Royal, General, Jefferies Locations: Royal Caribbean

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ Consumer spending, inflation, and housing are 3 things to watch in the market next week
▼ + stars: | 2024-06-22 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Nvidia had some strong moves in the days after its 10-for-1 stock split traded in the market on June 10. Tuesday brought weaker-than-expected May retail sales , which the stock market took in stride, perhaps on the view that softness helps the view that the Federal Reserve will indeed cut interest rates later this year. Ultimately, the economic readings this past week signal that while U.S. growth remains resilient, things are slowing, which is an ideal setup for stock market bulls. The Fed's favorite inflation gauge and the tail end of earning season will be drivers of the market in the week ahead. ET: New Home Sales Before the bell: General Mills (GIS), Paychex (PAYX), UniFirst (UNF) After the bell: Micron (MU), BlackBerry (BB), Levi Strauss (LEVI) Thursday, June 27 8:30 a.m.

Persons: we're, Levi Strauss, Mills, LEVI, McCormick, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: Nasdaq, Dow, Nvidia, Microsoft, Apple, Broadcom, Energy, West Texas, Utilities, Federal, Juneteenth, FedEx, Nike, Micron, UniFirst, UNF, BlackBerry, Walgreens Boots Alliance, Outdoor Brands, Jim Cramer's Charitable, CNBC, Shoppers, Getty Locations: U.S, Oaks, Novi , Michigan

☆ Wall Street is set to wrap up a strong first half with a key inflation report on deck
▼ + stars: | 2024-06-21 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

With stocks set to close out a strong first half of 2024, investors have just one more key inflation hurdle to clear in the week ahead: May's personal expenditure report. Next week's personal consumption expenditure data, the Federal Reserve's preferred inflation gauge, could show whether that overall picture is intact. May's consumer price index, for example, showed no increase from the prior month. Last month's producer price index , a measure of wholesale prices, unexpectedly dropped from the previous reading. Pending Home Sales Index (May) 11 a.m. Kansas City Fed Manufacturing Index (June) Earnings: Nike, Walgreens Boots Alliance , McCormick & Co. Friday June 28 8:30 a.m.

Persons: Stocks, Terry Sandven, Goldman Sachs, David Kostin, Scott Chronert, Brian Leonard, Leonard, Bank's Sandven, Sandven, Mills Organizations: Nvidia, Microsoft, U.S, Bank Asset Management, Federal, PCE, Bank of America Securities, Wall, Keeley, Advisors, FedEx, Dow, Nasdaq, Dallas Fed, Chicago, Richmond Fed, Carnival, New, Micron Technology, . Kansas City Fed Manufacturing, Nike, Walgreens Boots Alliance, McCormick, Chicago PMI Locations: . Kansas, Chicago, Michigan

☆ Jim Cramer names packaged food stocks likely to do well in a slower economy
▼ + stars: | 2024-06-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday named packaged food stocks that might be good additions to portfolios, especially if the economy is headed for a slowdown. "For example, the packaged food plays." According to Cramer, Campbell Soup reported solid earnings but weaker guidance, due in part to its pricey acquisition of pasta sauce maker Sovos Brands. He stressed that the whole packaged food group usually does well in a slowdown and suggested also looking into Tyson Foods , Hormel , General Mills , Conagra and Kellanova . "Ultimately, I feel incrementally more positive on the packaged food space after hearing from Campbell's and Smucker," he Cramer said.

Persons: CNBC's Jim Cramer, Campbell, We've, Cramer, Smucker, General Mills, Campbell Soup Organizations: Campbell Soup, Sovos Brands, Tyson Foods Locations: Conagra

☆ Black workers sue, claiming White racists run a General Mills plant in Georgia
▼ + stars: | 2024-06-05 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —General Mills, the manufacturer of Cheerios and other well-known cereals, is being sued by eight Black employees working at a Georgia plant who say it’s rampant with racism under the control of its White managers. In the federal lawsuit filed June 2, the employees accuse the managers at the Covington plant with favoring White employees for promotions over Black workers, issuing more disciplinary actions against Black employees and a manager calling them “colored,” a racist term. The lawsuit points to two White managers who “formed an organization of white employees in management and human resources called the ‘Good Ole Boys’” favoring White workers over their Black counterparts and going back as far as the 1980s. General Mills did not immediately respond to CNN’s request for comment. The plaintiffs are seeking a trial by jury and compensatory and punitive damages for hundreds of Black employees who have worked at the Covington plant.

Persons: Mills, “, General Mills, Jefferson Davis, Stonewall Jackson, White Organizations: New, New York CNN, White, Boys, Ku Klux, General Locations: New York, Georgia, Covington

☆ How a global seafood giant broke Red Lobster
▼ + stars: | 2024-05-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +15 min

Former Red Lobster employees say that while the pandemic, inflation and rent costs impacted Red Lobster, Thai Union’s ineptitude was the pivotal factor in Red Lobster’s decline. Kenny criticized Red Lobster employees at meetings and made derogatory comments about them, according to former Red Lobster leaders who worked closely with Kenny. Red Lobster’s annual customer count has dropped by 30% since 2019, Red Lobster said in its bankruptcy filing. Red Lobster employees say they were pressured by Thai Union representatives to buy more seafood from Thai Union. Thai Union representatives also began sitting in on meetings between Red Lobster and seafood suppliers, said one of the former Red Lobster employees who witnessed these conversations.

Persons: “, Ludovic Garnier, Jorge Silva, Red Lobster’s, ”, Les Foreman, Red, Thiraphong Chansiri, Angel, Feng shui, Chansiri, Amanda Mustard, Paul Kenny, Kenny, ’, Kenny’s, Bill Darden, General Mills, Darden, Kelli Valade, Valade, Trin, Tapanya, Kevin Lamarque, Barry Fulghum, Lobster, Leah Millis Organizations: New, New York CNN, Thai Union Group, Red, Lobster, Thai Union, CNN, Red Lobster, John West Foods, longtime, Reuters, Thai, West Coast, Lobster’s, Bloomberg, Getty, Minor, Thai Union —, Union, Darden, Gate, Golden, Capital, Facebook, Thai Union . Thai Union, ” Thai Union Locations: New York, Thai, Thailand, Thai Union, United States, Orlando, Australian, Dallas, America, United, Texas, Spring , Maryland

☆ Red Lobster, an American Seafood Institution, Files for Bankruptcy
▼ + stars: | 2024-05-20 | by ( Ali Watkins | More About Ali Watkins | ) www.nytimes.com time to read: +1 min

Versatile and resilient, the lobster survives by molting, shedding its skin and growing into a new, bigger shell. Red Lobster said it planned to reduce its locations as it prepared to to sell most of its assets. In the meantime, surviving Red Lobster restaurants will remain open. It has been a painful, slow end for Red Lobster, whose death throes were telegraphed earlier this year when the company reportedly sought to restructure its debt. After decades as a General Mills subsidiary, Red Lobster was purchased by a private equity firm in 2014, and bolstered by a 2020 investment from a Thai seafood conglomerate.

Persons: molting Organizations: General Mills

☆ How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy
▼ + stars: | 2024-05-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed. Michael Nagle/Bloomberg/Getty Images“This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing. “Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden.

Persons: Michael Nagle, ”, Alex Susskind, Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Mills, Cyrus McCrimmon, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Anthony Behar, SIPPL, AP Darden, they’ve, John Gordon, “, Patrick T, Fallon, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Union became Red, Thai Union, Red Lobster, Bloomberg, Getty, Cornell University, CNN, Baby Boomers, General, Howard, Restaurant Business, Darden, Lobster, Denver Post, Harvard Business School, Longhorn, AP, Gate, ‘, Thai, Getty Images Thai Union, ” Thai Locations: New York, Thai Union, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Square , New York, Sale, Torrance , California, AFP

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