An ad campaign targeting fast-food chains and a TikTok-viral appetizer helped Chili's same-store sales climb nearly 15% in its latest quarter.But Kevin Hochman, CEO of parent company Brinker International, told CNBC that the chain's strong performance is just a sign that customers are finally catching onto the chain's two-year...
Brian Niccol, CEO of ChipotleAnjali Sundaram | CNBCStarbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill.Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As...
Brian Niccol, CEO of ChipotleAnjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decades-long Howard Schultz era.Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over...
Restaurants Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol.CNBC (L) | Getty Images (R)Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol.Shares of Starbucks rose 10% in premarket trading on the news, while Chipotle's stock fell 10%.Narasimhan took over as chief executive in...
A sign advertises meal deals at a McDonald's restaurant in Burbank, California, on July 22, 2024.Mario Tama | Getty ImagesRestaurant 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...
A general view of a Tim Hortons Drive-Thru coffeehouse and restaurant at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom.John Keeble | Getty ImagesRestaurant 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...
A sign is posted in front of a Taco Bell restaurant on May 01, 2024 in Richmond, California. Justin Sullivan | Getty ImagesYum Brands on Tuesday reported a mixed quarter as both Pizza Hut and KFC reported declining same-store sales.Shares of the company fell less than 1% in premarket trading.Here's...
Signage for Kellanova (K) outside the New York Stock Exchange (NYSE) on September 05, 2023 in New York City.APShares of Kellanova climbed 13% in morning trading Monday on reports of buyout interest. M&M's owner Mars is in talks to acquire the snacking company, CNBC's David Faber reported, adding rival...
A Taco Bell fast-food restaurant and drive-thru at dusk in Gastonia, North Carolina.Jeff Greenberg | Universal Images Group | Getty ImagesYum Brands hopes to use artificial intelligence to take down drive-thru orders at hundreds of Taco Bell restaurants by the end of this year.The restaurant company announced on Wednesday...
Starbucks glass art on a store in Tokyo.Jakub Porzycki | Nurphoto | Getty ImagesStarbucks is expected to report its fiscal third-quarter earnings after the bell on Tuesday.Here is what Wall Street analysts surveyed by LSEG are expecting:Earnings per share: 93 cents expectedRevenue: $9.24 billion expectedShares of Starbucks have tumbled...