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,…
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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…
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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.
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Musk downplays margin pain on road to self-driving future
Elon Musk’s bet to sacrifice margins now for improved margins later when full self-driving software is completely integrated into Tesla cars failed to impress investors, sending the electric-vehicle maker’s shares down nearly 10% on Thursday. Musk, who has waged a price war against EV rivals since last year, signaled price cuts were here to stay…
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Carnival forecasts lower profit as costs bite, shares drop 11%
Cruise operator Carnival (CCL.N) on Monday forecast third-quarter profit largely below estimates as rising marketing and labor costs eat into gains from higher ticket prices and strong demand. The company’s shares, which have surged nearly 80% in the past two months on resurgent demand for cruises, dropped 11%. Carnival has increased marketing spend to attract…
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Peloton stock slips as M Science flags worsening gross add headwinds
Peloton Interactive (NASDAQ:PTON) slid sharply after the publication of a new report highlighting headwinds facing the fitness company. Fitness as a service churn appears to have accelerated, according to M Science. Peloton (PTON) shares slipped 8.62% during Thursday’s trading. The stock had rallied about 40% in the month leading up to Thursday’s drop, bouncing from…
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