Nov 8 (Reuters) – McDonald’s Corp reported a global
1.8 percent drop in sales at established restaurants for October
- its first monthly sales fall since March 2003 – sending its
shares to a year low and presenting big challenges to the
fast-food chain’s new CEO.
McDonald’s is likely to answer the challenge with stepped-up
promotions in response to resurgent rivals such as Burger King
Worldwide Inc, Wendy’s Co and Yum Brands Inc’s
.N> Taco Bell, analysts said. Those chains have re-done
their menus and beefed up “value” offerings to compete with
McDonald’s popular Dollar Menu.
Nov 7 (Reuters) – The failure on Tuesday of a California
ballot initiative that would have mandated labeling of
genetically modified foods is not a death knell for those
seeking nationwide labeling, U.S. labeling proponents said.
President Barack Obama’s re-election could be a boost, as he
is seen, in general terms, as being supportive of labeling.
Still, efforts to force change at a federal level could face an
LOS ANGELES/KANSAS CITY, Nov 7 (Reuters) – California voters
rejected a ballot measure that would have made the state the
first in the nation to require special labeling of foods with
genetically modified ingredients.
The measure was defeated 53 percent to 47 percent, according
to final results from Tuesday’s election.
LOS ANGELES (Reuters) – Voters in two California cities rejected measures that would have imposed the nation’s first penny-per-ounce taxes on businesses that sell sodas and other sugary drinks in an effort to boost municipal revenue and fight obesity.
In El Monte, 76.8 percent of voters said no, while in Richmond, 66.9 percent opposed the measure, according to final results from Tuesday’s election.
LOS ANGELES/KANSAS CITY (Reuters) – California voters appeared poised early Wednesday to reject a ballot measure that would have made the state the first in the nation to require special labeling of foods with genetically modified ingredients.
With 64 percent of the state’s precincts reporting, the measure was losing by a 55-45 margin, according to the California Secretary of State. Political observers familiar with the state’s voting dynamics saw little chance that the deficit could be made up.
(Reuters) – Major food and seed companies appear to be on the verge of defeating a California ballot initiative that, if passed on Tuesday, would create the first labeling requirement for genetically modified foods in the United States.
In a campaign reminiscent of this summer’s successful fight against a proposed tobacco tax in California, opposition funded by Monsanto Co, DuPont, PepsiCo Inc and others unleashed waves of TV and radio advertisements against Proposition 37 and managed to turn the tide of public opinion.
(Reuters) – Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) raised its profit forecast for the current fiscal year and plans to speed up new store openings, as strength in its latest quarter and new products, gave the company confidence not seen by many of its peers in the U.S. restaurant industry.
Shares of the world’s biggest coffee chain jumped 7.4 percent to $49.55 in extended trading.
LOS ANGELES/KANSAS CITY, Oct 25 (Reuters) – Heavy
advertising spending by Monsanto Co and others opposed
to a California ballot proposal to require labels on grocery
products containing genetically modified organisms is paying
off, according to a new poll that shows the measure has slipped
into a virtual tie.
Forty-four percent of California voters now support the
measure, while 42 percent oppose it and 13 percent are
undecided, according to the latest USC Dornsife/Los Angeles
Times Poll released on Thursday.
(Reuters) – Dunkin’ Brands Group Inc (DNKN.O: Quote, Profile, Research, Stock Buzz) on Thursday raised its full-year profit forecast after share buybacks and steady sales at U.S. Dunkin’ Donuts restaurants bolstered third-quarter results amid stiff competition in its core U.S. market.
Shares in the company, which gets almost 75 percent of revenue and more than 80 percent of profit from its domestic Dunkin’ Donuts cafes, were up 1.6 percent in midday trading on the Nasdaq.
Oct 24 (Reuters) – Chili’s Grill & Bar parent Brinker
International Inc on Wednesday said a cool-down in sales
at established restaurants was stretching into the current
quarter, sending its shares down more than 10 percent.
The Dallas-based company, which also owns the Maggiano’s
Little Italy chain, also reported a fiscal first-quarter profit
that just missed Wall Street’s estimate and issued a
second-quarter earnings forecast below analysts’ target.