April 12 (Reuters) – Starbucks Corp on Friday said
it would cut grocery list prices on its namesake and Seattle’s
Best packaged coffee by 10 percent or more on May 10, as coffee
costs fall and it fights for more sales through supermarkets and
Competition in the coffee grocery aisle is intense and
Starbucks’ move follows price reductions by rival packaged
coffee sellers earlier this year.
(Reuters) – Burger King Worldwide Inc (BKW.N: Quote, Profile, Research, Stock Buzz) forecast a slightly higher quarterly profit on Thursday than Wall Street expected, even though spending among fast-food diners remains weak.
The hamburger chain, which has a long history of ownership and management changes, also said Chief Executive Bernardo Hees will leave to take over at H.J. Heinz Co (HNZ.N: Quote, Profile, Research, Stock Buzz).
April 11 (Reuters) – Yum Brands Inc, the biggest
foreign fast-food chain operator in China, is in danger of
breaking its 11-year streak of double-digit profit growth as it
scrambles to deal with food scares and bird flu in its most
The U.S.-listed firm, the world’s largest restaurant company
by number of outlets, said in a filing Wednesday that the latest
deadly avian flu outbreak would have a “significant, negative
impact” on sales at KFC stores in China in April.
(Reuters) – KFC parent Yum Brands Inc warned that a new bird flu outbreak in China badly hit restaurant sales there this month, even as the company also reported a sharper-than-expected slide in March sales in the country caused by the lingering impact of a separate food safety scare.
“Within the past week, publicity associated with Avian flu in China has had a significant, negative impact on KFC sales,” the company said in a regulatory filing on Wednesday.
April 10 (Reuters) – KFC parent Yum Brands Inc on
Wednesday reported a sharper-than-expected 13 percent drop in
March sales at established restaurants in China as it works to
recover from a food safety scare and warned that the country’s
new bird flu outbreak took a big toll this month.
The outbreak has already sickened 33 and killed nine, as
Chinese authorities try to clamp down on rumors about the deadly
virus and its potential spread.
April 4 (Reuters) – Hundreds of fast-food restaurant workers
in New York City turned out for protests on Thursday in what
organizers said would be their largest rally yet for better pay.
Employees from familiar chains such as McDonald’s Corp
, Burger King and Yum Inc’s KFC are
seeking to roughly double their hourly wage to $15. They also
say they want the right to form a union without interference.
(Reuters) – Hundreds of fast-food restaurant workers in New York City are expected to walk off the job on Thursday in what organizers said would be their largest rally yet for better pay.
Employees from familiar chains such as McDonald’s Corp, Wendy’s and Yum Inc’s KFC are seeking to roughly double their hourly pay to $15. They also say they want the right to form a union without intimidation or retaliation.
March 20 (Reuters) – Starbucks Corp investors on
Wednesday rejected a shareholder proposal to prohibit the
world’s biggest coffee chain from making political contributions
or forming a political action committee.
The Starbucks board had recommended rejection of the
proposal, sponsored by shareholder John Harrington, chief
executive of Harrington Investments. It was introduced at the
annual meeting by a representative of Corporate Accountability
International, where Harrington is a board member.
(Reuters) – Whole Foods Market Inc, Trader Joe’s and other food retailers representing more than 2,000 U.S. stores have vowed not to sell genetically engineered seafood if it is approved in the United States, a new advocacy group said on Wednesday.
The announcement from the Campaign for Genetically Engineered-Free Seafood comes as the U.S. Food and Drug Administration appears close to approving genetically engineered salmon from Massachusetts-based AquaBounty Technologies.
LOS ANGELES, March 19 (Reuters) – Taco Bell turned in an
unexpectedly strong sales in 2012, but delivering a second
consecutive year of restaurant sales growth will be a difficult
task for the No. 1 Mexican fast-food chain.
Taco Bell’s two-track strategy – cheap Doritos tacos for
hungry young men and the slightly pricier and higher-quality
Cantina Bell menu for more mature audiences – helped it
outperform the industry in an otherwise tough year.