A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois.Scott Olsen | Getty ImagesDarden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants."While we fell short of our expectations for...
A BurgerFi location is seen on August 20, 2024 in Arlington, Virginia. Tierney L. Cross | Getty ImagesBurgerFi filed for Chapter 11 bankruptcy protection on Tuesday, less than a month after it warned investors it had "substantial doubt" about its ability to operate.The company joins the growing list of restaurant...
New Starbucks CEO Brian Niccol will focus on improving the chain's U.S. business in his early days on the job before he moves to fix its issues abroad, according to an open letter published on Tuesday."… In some places — especially in the U.S. — we aren't always delivering,"...
A green tea pod inside a Keurig brand coffee maker, Dec. 17, 2022.Gado | Archive Photos | Getty ImagesThe Securities and Exchange Commission has charged Keurig Dr Pepper for making inaccurate claims about the recyclability of its disposable K-Cup pods, the agency said Tuesday.Keurig has agreed to pay a...
Nelson Peltz speaking at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019.Adam Jeffery | CNBCNelson Peltz is stepping down as chair of Wendy's, ending a 17-year reign at the fast-food chain.Wendy's said Friday that the change is effective immediately.Peltz's exit comes as low-income consumers eat...
The exterior of a Red Lobster restaurant on May 20, 2024 in Austin, Texas. Brandon Bell | Getty ImagesA bankruptcy court approved Red Lobster's plan to exit Chapter 11, putting the seafood chain one step closer to exiting bankruptcy.The company, known for its seafood offerings and cheddar biscuits, filed for...
Beyond Meat in El Segundo, California, on May 30, 2024.Christina House | Los Angeles Times | Getty ImagesBeyond Meat will introduce a whole-muscle steak alternative as part of its pivot to win over health-conscious consumers.CEO Ethan Brown said on Wednesday that the rollout will likely include a partnership with...
The Red Lobster logo is displayed outside of a closed restaurant in Torrance, California, on May 14, 2024.Patrick T. Fallon | Afp | Getty ImagesRestaurant bankruptcy filings have surged so far this year, echoing a broader rise in corporate bankruptcies across sectors.At least 10 restaurant chains, not including multi-unit...
Leopatrizi | E+ | Getty ImagesLawmakers want to crack down on "junk fees," but restaurants are trying to stay out of the fight.Surcharges or fees covering everything from credit card processing to gratuities to "inflation" have become more popular on restaurant checks in recent years.Last year, 15% of restaurant...
Customers arrive at a Cava restaurant in New York City on June 22, 2023.Brendan Mcdermid | ReutersCava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue.Shares of the company rose 7% in extended trading. The stock has more than doubled...