Shake Shack forecasts slim sales as Omicron surge hurts
Shake Shack forecast first-quarter revenue below estimates as the fast-spreading Omicron variant kept diners away and led to temporary restaurant closures, sending the burger chain’s shares down 10% in extended trading. Benefits from easing COVID-19 Delta infections were short-lived for Shake Shack as the Omicron wave that soon followed dissuaded customers from venturing out, infected…
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DoorDash revenue beats as food-delivery boom continues, shares soar 24%
DoorDash Inc (DASH.N) reported quarterly revenue on Wednesday that beat estimates as food delivery demand showed no sign of slowing, indicating ordering habits have changed permanently, sending the company’s shares up 24% after the bell. Analysts have said people have grown accustomed to having food delivered to their doorsteps after frequently ordering in during the…
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Serena Williams to star in Tonal’s Super Bowl ad. Home gym tells women to ‘own your strength’
Tonal, known for its $2,995 at-home gym, is using a Super Bowl ad to make a point to women that they can use strength training equipment just like men. A new campaign starring tennis champion Serena Williams, who was also an early Tonal investor, aims to debunk the idea that women will get “very muscular”…
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Peloton to replace its CEO, cut 2,800 jobs
Beleaguered fitness company Peloton said Tuesday it will replace CEO and co-founder John Foley as the brand seeks to win back market and consumer confidence. Barry McCarthy, who has held leadership roles at Spotify and Netflix, will become the new CEO, effective Wednesday, the company announced. “Today’s leadership changes are the culmination of a succession…
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Delivery firms are offering more flexibility to retain partners. Will it work?
Major aggregators are rolling out white labels, subscription programs and new data tools to keep partner restaurants and delivery customers as more diners order from operators directly. Over the past two years, third-party delivery aggregators made a feast of the pandemic environment that threatened so many restaurant operators with famine.
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Shopify tipped by M Science to beat Q4 revenue expectations
M Science updates on current trends with Shopify (SHOP+0.8%) amid the holiday shopping season.Overall, the data tracking firm says moderating subscriber growth is being offset by increased gross merchandise volume.M Science analyst Parker Snook and team set a Q4 revenue estimate for SHOP ahead of consensus, driven by upside in merchant solutions and GMV.The firm’s…
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