Best Buy thrives in holiday quarter on discounts, paid memberships
Best Buy (BBY.N), opens new tab posted a smaller drop in fourth-quarter sales than expected and beat profit estimates on Thursday…
Read article 
Lowe’s sees steeper drop in annual sales as DIY demand stumbles
Lowe’s Cos (LOW.N) on Tuesday projected a bigger drop in annual same-store sales than previously expected, as inflation-hit consumers cut spending…
Read article
Burger King drags sales at parent Restaurant Brands as spending softens
Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as lingering inflation pinched spending at its…
Read article
Yum Brands results beat as Taco Bell promotions draw customers
Yum Brands (YUM.N) topped Wall Street estimates for third-quarter results on Wednesday as a reboot of popular menu items at Taco Bell and promotional deals at KFC pulled in more budget-strapped customers looking for cheaper restaurant meals. The company has banked on aggressive promotions and limited-time offers to drive demand, with the return of the…
Read article
Norwegian Cruise downgrades 2023 profit target on higher costs, Israel war
Norwegian Cruise Line Holdings (NCLH.N) on Wednesday warned of a hit to its annual profit from elevated costs and booking disruptions due to the escalating Israel-Hamas conflict and a lingering impact of the wildfires in Maui. A post-pandemic uptick in demand for cruises was overshadowed by higher food and labor expenses, hurting the cruise operator…
Read article
Chipotle beats results estimates as demand defies high prices
Chipotle Mexican Grill (CMG.N) surpassed market expectations for quarterly results on Thursday, as unwavering demand for its burritos and rice bowls and a strong boost from limited-time promotions helped defy a broader weakness in the restaurant industry. Dining traffic has slowed across the industry, but Chipotle’s wildly popular Carne Asada protein returned to menus in…
Read article
Nike shares jump on leaner inventory, better margins outlook
Nike (NKE.N) shares climbed as much as 11% on Friday as the company further trimmed its inventory ahead of the all-important holiday shopping season and forecast improved second-quarter gross margin due to fewer discounts. The world’s largest sportswear maker has focused on reducing its inventory, bringing it down by 10% to $8.7 billion in the…
Read article
Restaurant Brands results beat estimates as Burger King bounces back
Restaurant Brands International (QSR.TO) topped market estimates for quarterly results on Tuesday, signaling its Burger King turnaround plans were bearing fruit, with the chain drawing more customers through improved marketing and new technology at its outlets. Having previously struggled to drive sales in the U.S., Burger King is now ramping up investments in restaurant remodels,…
Read article
Starbucks misses quarterly sales estimates, sees lasting China rebound
Starbucks (SBUX.O) missed market expectations for quarterly comparable sales on Tuesday, with demand for its coffees and cold drinks showing some signs of tapering in the North American and international markets even as China sales rebounded sharply. The world’s largest coffeehouse chain has targeted its younger, wealthier U.S. customer base by launching new drinks and…
Read article
U.S. fast-food chains report fatter margins as cheese, chicken, avocado costs fall
Major U.S. restaurant chains including burger giant McDonald’s (MCD.N) saw lower ingredient costs, especially for chicken, cheese and avocado, drive profit margins in the second quarter. Domino’s (DPZ.N), McDonald’s and Chipotle (CMG.N) said they were starting to benefit from easing costs after red-hot inflation forced them to raise menu prices a few quarters ago.
Read article