(Reuters) – McDonald’s popular $1 McDouble cheeseburger, which has lured customers to the Golden Arches since 2008, is getting hard to sustain as rising beef prices threaten the company’s profit margin.
The world’s biggest restaurant chain launched a competing $1 Grilled Onion Cheddar Burger in December. It also made the new sandwich – with one beef patty rather than the McDouble’s two – a star of current television commercials, a status it shares with the McDouble.
(Reuters) – Dunkin’ Brands Group Inc (DNKN.O: Quote, Profile, Research, Stock Buzz) posted a higher-than-expected quarterly profit on Thursday as operating costs fell and sales at established Dunkin’ Donuts cafes in the United States came in above analysts’ estimates.
The company, which also raised its quarterly dividend by 4 cents to 19 cents per share, plans to revise its 2013 profit forecast once it knows what savings it will reap from refinancing its debt, Chief Executive Nigel Travis told Reuters.
LOS ANGELES/SAN FRANCISCO, Jan 28 (Reuters) – The first big
political push for an overhaul of U.S. immigration laws in more
than five years holds out some promise for
employers who have long complained that the current system is
broken and inhibits hiring.
From farmers who cannot find Americans to pick their crops
to technology firm who need more engineers from abroad, the
bipartisan plan from eight U.S. senators announced on Monday
offered solutions like a “workable” program for seasonal farm
labor and a commitment to “attracting and keeping the world’s
best and brightest.”
LOS ANGELES, Jan 28 (Reuters) – Veggie Grill raised $20
million from current stakeholders and new investors to bolster
its expansion and capitalize on the growing popularity of
healthy dining options, the Santa Monica, California-based
restaurant company said on Monday.
It is the fourth round of equity funding for the vegetarian
restaurant chain, whose menu includes dishes such as the “All
Hail Kale” salad. The privately-held company declined to
disclose its valuation.
(Reuters) – Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) reported stronger-than-expected sales in the United States and Asia despite economic uncertainty worldwide, offsetting unexpected costs including the bill for cleaning up after Superstorm Sandy.
Shares in the world’s biggest coffee chain rose 1.9 percent in after-hours trade on Thursday, even though the company’s first-quarter profit matched but did not exceed Wall Street estimates and it merely repeated its forecasts for the full year. Starbucks often tops profit expectations and raises forecasts.
(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) on Wednesday forecast a decline in global restaurant sales for January, as it and other fast-food chains fight for customers who are spending cautiously during continued economic uncertainty.
The world’s biggest restaurant company by revenue also reported an unexpected rise in December sales at established U.S. outlets, which helped lift its fourth-quarter profit above analysts’ estimates.
(Reuters) – Scares over the safety of China’s chicken supply are taking a small bite out of McDonald’s Corp’s (MCD.N: Quote, Profile, Research, Stock Buzz) sales in that country, executives for the fast-food chain said on Wednesday.
Chinese authorities have cleared McDonald’s and KFC owner Yum Brands Inc (YUM.N: Quote, Profile, Research, Stock Buzz) of charges they had served chicken laced with excessive chemicals, but the iconic U.S. chains – long considered to serve safer and higher quality food than domestic chains – remain under fire from local media and consumers.
(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) is running out of quick-fix strategies for stemming declines in U.S. restaurant sales inflicted by tougher competition for customers who are pinching pennies in a weak economic recovery.
The world’s largest restaurant chain by revenue welcomed customers on Christmas Day and shifted the limited offering of its cult favorite McRib sandwich into December to avoid a big year-end decline in its U.S. restaurant business. But, it appears the company has exhausted its supply of such tactics.
Jan 17 (Reuters) – Chipotle Mexican Grill Inc is
considering raising menu prices in the middle of this year to
offset rising food costs, an executive at the popular burrito
chain said at the ICR XChange investor conference on Thursday.
Late on Tuesday Chipotle forecast fourth-quarter profit
below Wall Street expectations. It blamed a faster-than-expected
rise in food costs during the latest quarter, when cost
pressures squeezed profitability.
(Reuters) – Higher food costs and rising competition are biting burrito chain Chipotle Mexican Grill Inc (CMG.N: Quote, Profile, Research, Stock Buzz), which saw shares fall more than 5 percent on Wednesday following its late-night earnings warning.
Chipotle forecast fourth-quarter profit below Wall Street expectations. It blamed a faster-than-expected rise in food costs during the latest quarter, when cost pressures squeezed profitability. Still, the company said it expects food inflation to level off in 2013.