These days, Americans crave dining experiences. The U.S. restaurant industry is on track to see $1 trillion in sales for the first time in history in 2024, according to the National Restaurant Association, and the average household spends $2,375 a year on dining and takeout purchases. Technology makes it more convenient than ever before to...
Tag: Restaurants
Restaurant CEOs focus on value as they aim to bring back customers
A sign advertises meal deals at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Restaurant CEOs have become obsessed with the word “value” in explaining to investors why their sales lagged this quarter while sharing plans to revive traffic in the coming months. On McDonald’s quarterly conference call...
Procter & Gamble (PG) Q4 2024 earnings
Procter & Gamble on Tuesday reported mixed quarterly results, but the company’s volume increased for the first time in more than two years. Volume excludes pricing, making the metric a more accurate reflection of demand than sales. Over the last several years, P&G’s price hikes across its portfolio, from diapers to detergent, fueled its sales...
Executives address value and prices
McDonald’s fast food restaurant in Manhattan, New York, United States of America, on July 6th, 2024. Beata Zawrzel | Nurphoto | Getty Images After a challenging second quarter, McDonald’s executives told restaurant operators and analysts they are refocusing on how to recapture consumers with deals, as they pushed for an extension of the its $5...
‘Vanderpump Rules’ Star Tom Schwartz: ‘Scandoval’ Almost Closed Schwartz & Sandy’s
Tom Schwartz is ready to talk about “it” — but he’s not expecting you to feel bad for him. “This year almost broke me,” Schwartz tells Entrepreneur. “I’m glad we persevered, [but] there was a moment there I wasn’t sure if we were going to.” For those not well-versed in the Bravo universe, in March...
Yum Brands (YUM) Q2 2023
Signage is displayed outside a Yum! Brands Inc. Taco Bell and Kentucky Fried Chicken (KFC) restaurant in Louisville, Kentucky, U.S., on Thursday, Jan. 30, 2020. Luke Sharrett | Bloomberg | Getty Images Yum Brands on Wednesday reported mixed quarterly results as Taco Bell’s and Pizza Hut’s same-store sales disappointed. Shares of the company were up...
Chipotle Mexican Grill (CMG) Q2 2023 earnings
A Chipotle restaurant in New York, US, on Monday, July 3, 2023. Jeenah Moon | Bloomberg | Getty Images Chipotle Mexican Grill on Wednesday reported quarterly earnings that crushed expectations, but the burrito chain’s sales fell short. The stock fell more than 8% in extended trading. Shares were up 50% this year through Wednesday’s close....
Cava prices IPO at $22 per share, above stated range
The Cava logo is displayed at a Cava location in Pasadena, California, Feb. 6, 2023. Mario Tama | Getty Images News | Getty Images Mediterranean fast-casual restaurant chain Cava priced its initial public offering at $22 per share, above a previously stated range, the company said Wednesday. Cava said it sold 14.4 million shares, which...
Cramer expects Cava to roar in IPO, warns investors to tread carefully
CNBC’s Jim Cramer on Tuesday gave investors his take on Cava, the popular fast-casual Mediterranean chain that’s expected to go public this week. While he thinks the stock will roar on the IPO, he said investors should tread carefully and not burn themselves if “Cava comes out of the gateway too hot.” “Unless you can...