Lisa's Feed
Dec 19, 2013

Darden, under pressure, will spin off or sell Red Lobster

By Lisa Baertlein and Aditi Shrivastava

(Reuters) – Darden Restaurants Inc (DRI.N: Quote, Profile, Research, Stock Buzz) said it would spin off or sell its struggling Red Lobster chain, bowing to pressure from hedge fund Barington Capital Group, and warned that earnings would fall more than expected this year due to weak demand.

Barington had been pushing for Darden to split into two companies – one that operates its mature Olive Garden and Red Lobster chains and another for its growing brands such as LongHorn Steakhouse and Seasons 52.

Dec 9, 2013

McDonald’s November sales miss as U.S. weakness persists

By Lisa Baertlein

(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) on Monday reported another sluggish month of sales at established restaurants, results that suggest the famed hamburger chain is losing U.S. market share to rivals.

The fast-food chain, the world’s largest by revenue, has struggled for more than a year to significantly increase those monthly sales, hindered by slack demand and intense competition for the business of budget-conscious diners.

Dec 4, 2013

Diners not biting on KFC’s China revival campaign

NEW YORK/SHANGHAI, Dec 4 (Reuters) – Yum Brands Inc’s
KFC website in China trumpets the slogan “Trust in every
bite”.

That message is part of the company’s new “I Commit”
campaign intended to reassure customers in its largest market,
who have cut back on visits since Chinese media reports a year
ago about excessive antibiotic use by a few KFC suppliers.

Dec 2, 2013

Yum’s November KFC China sales flat, sees 2014 earnings rebound

By Lisa Baertlein

(Reuters) – Yum Brands Inc (YUM.N: Quote, Profile, Research, Stock Buzz) said November sales at established KFC restaurants in China, its top market, failed to grow despite a successful half-priced chicken promotion, and it forecast a return to earnings per share growth in 2014.

China accounts for more than half of Yum’s operating profit. Its shares have risen 14 percent since the start of November on expectations that China’s KFC restaurant sales are poised for a rebound.

Nov 28, 2013

Stores open early on Thanksgiving but shoppers in no rush

Nov 28 (Reuters) – Some early U.S. shoppers headed to stores
on Thanksgiving Day in search of discounted holiday gifts on a
day long reserved for American families to bond over turkey and
football.

Kmart, Old Navy and Lord & Taylor were some of the stores
that opened their doors on Thursday morning, as each company did
last year. Macy’s Inc and a slew of other stores are
opening later on Thanksgiving for the first time ever in a
bare-knuckle brawl for a bigger slice of holiday sales.

Nov 28, 2013

Eyeing holiday sales, more U.S. retailers to open on Thanksgiving

By Lisa Baertlein

(Reuters) – Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) and a slew of other U.S. retailers are opening on Thanksgiving for the first time ever in a bare-knuckled brawl for a bigger slice of overall holiday sales.

But it might not be so easy to lure most Americans from their turkey and football – particularly if the weather is foul.

Nov 20, 2013

U.S. retailers brace for margin hit from holiday discounts

By Lisa Baertlein and Phil Wahba

(Reuters) – Shoppers like stay-at-home mom Susan Sterling are American retailers’ worst nightmare this holiday season.

The 52-year-old from Mountain Home, Idaho expects to spend only about $200 (£124.02) on holiday gifts, $100 less than last year, and plans to buy only what’s on sale or clearance.

Nov 20, 2013

Analysis: U.S. retailers brace for margin hit from holiday discounts

By Lisa Baertlein and Phil Wahba

(Reuters) – Shoppers like stay-at-home mom Susan Sterling are American retailers’ worst nightmare this holiday season.

The 52-year-old from Mountain Home, Idaho expects to spend only about $200 on holiday gifts, $100 less than last year, and plans to buy only what’s on sale or clearance.

Nov 13, 2013

Starbucks says $2.76 billion Kraft split was necessary

By Lisa Baertlein

(Reuters) – Starbucks Corp (SBUX.O: Quote, Profile, Research) on Wednesday said breaking up with Kraft was hard to do, but worth the high price, a day after an arbitrator ruled it must pay a whopping $2.76 billion (1.72 billion pounds) for ending the companies’ grocery coffee partnership early.

The world’s biggest coffee chain on Wednesday said it would restate results for the latest quarter to show an operating loss and issue debt following the bigger-than-expected break-up fee.

Nov 13, 2013

Starbucks to restate results to show loss from Kraft damages

Nov 13 (Reuters) – Starbucks Corp will restate
results for the latest quarter to show an operating loss and
will issue $750 million in debt after an arbitrator ruled that
it must pay $2.76 billion for ending its grocery coffee deal
with Kraft Foods early.

Kraft Foods Inc split into two companies in October 2012,
Kraft Foods Group Inc and Mondelez International Inc
. Under an agreement between those two companies,
Mondelez will receive all proceeds from the Starbucks-Kraft
dispute.

    • About Lisa

      "Lisa writes about restaurants and grocery stores. She is based in Los Angeles and previously has covered computer software, Internet companies, video games, prescription drugs and municipal bonds."
    • Follow Lisa