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Dec 4, 2012

Olive Garden parent cuts view on restaurant sales drop

Dec 4 (Reuters) – Darden Restaurants Inc reported a
steep fall-off in business at its Olive Garden, Red Lobster and
LongHorn Steakhouse chains on Tuesday and lowered financial
expectations for the year, sending shares down 10 percent.

The company said it would revamp promotions in a bid to
attract more customers, but Chief Executive Officer Clarence
Otis said he remained cautious about forecasts given recent
results and planned changes.

Dec 4, 2012

Darden warns on second quarter as promotions miss mark

Dec 4 (Reuters) – Darden Restaurants Inc warned on
Tuesday that earnings for the latest quarter would miss
expectations after unsuccessful promotions led to a decline in
sales at its Olive Garden, Red Lobster and LongHorn Steakhouse
chains.

Shares in Orlando, Florida-based Darden tumbled 9.3 percent
to $47.57 in early trading on the New York Stock Exchange.

Nov 30, 2012

Yum’s shares tumble after China sales warning

LOS ANGELES (Reuters) – Shares of Yum Brands Inc (YUM.N: Quote, Profile, Research, Stock Buzz) tumbled 9.5 percent on Friday after the parent of the KFC, Pizza Hut and Taco Bell chains warned that sales at established restaurants in China, the company’s biggest market, would fall in the fourth quarter.

The company, which got more than half its third-quarter revenue and operating profit from China, now expects sales at restaurants open a least one year to fall 4 percent this quarter. Analysts were expecting a gain of around 2.5 percent and Yum previously had forecast sales to be flat to up in the low single-digit percentages.

Nov 29, 2012

Yum says key 4th-qtr sales in China to fall

Nov 29 (Reuters) – Yum Brands Inc said on Thursday
that it expects a decline in fourth-quarter sales at established
restaurants in China, where a cooling economy is making it
difficult to exceed the 21 percent gain it had there a year
earlier.

Yum, which gets more than half of its profits from China,
said that fourth-quarter same-restaurant sales are expected to
be down 4 percent in China, but they are expected to rise 4
percent at Yum Restaurants International and 3 percent in the
United States.

Nov 29, 2012

Yum says 4th-qtr sales at established China restaurants to fall

Nov 29 (Reuters) – Yum Brands Inc said on Thursday
it expects to post a decline in fourth-quarter sales at
established restaurants in China, where a cooling economy is
making it difficult to exceed the strong gain it reported a year
earlier.

Yum said fourth quarter same-restaurant sales are expected
to be down 4 percent in China. Those sales are expected to rise
4 percent at Yum Restaurants International and 3 percent in the
United States.

Nov 29, 2012

New York fast-food workers rally for better pay, union

NEW YORK/LOS ANGELES (Reuters) – Fast-food restaurant employees, many of whom work for minimum wage, protested in New York City on Thursday demanding higher pay and the right to form a union as part of a movement called “Fast Food Forward.”

The campaign seeks to roughly double hourly pay to $15 an hour. It is being billed as the largest attempt to unionize fast-food workers in the United States, where the minimum wage is $7.25 per hour.

Nov 29, 2012

Fast-food workers in New York protest for higher wages

By Lisa Baertlein

(Reuters) – Fast-food restaurant employees protested in New York City on Thursday, demanding higher pay and the right to form a union – the latest attempt by lower-wage workers in the United States to increase their compensation.

The campaign, called “Fast Food Forward,” seeks to roughly double hourly pay to $15 an hour and is being billed as the largest attempt to unionize U.S. fast-food workers.

Nov 29, 2012

Kroger posts higher third-quarter profit, raises forecast

By Lisa Baertlein

(Reuters) – No. 1 U.S. supermarket operator Kroger Co (KR.N: Quote, Profile, Research, Stock Buzz) on Thursday reported higher quarterly profit as easing food prices prompted shoppers to increase purchases and raised its full-year earnings forecast.

Shares of Kroger rose 3.4 percent to $25.90.

Lower-than-expected inflation contributed to the highest quarterly increase in unit movement – which Kroger calls tonnage – since the second quarter of 2010.

Nov 29, 2012

Kroger posts higher 3rd-qtr profit, raises forecast

Nov 29 (Reuters) – No. 1 U.S. supermarket operator Kroger Co
on Thursday reported higher quarterly profit as easing
food prices prompted shoppers to increase purchases and raised
its full-year earnings forecast.

Shares of Kroger rose 3.4 percent to $25.90.

Lower-than-expected inflation contributed to the highest
quarterly increase in unit movement – which Kroger calls tonnage
- since the second quarter of 2010.

Nov 21, 2012

US food banks raise alarm as drought dents gov’t supplies

LOS ANGELES, Nov 21 (Reuters) – The worst U.S. drought in
more than half a century has weakened the safety net for the 50
million Americans who struggle to get enough to eat, and the
nation’s food banks are raising the alarm as the holiday season
gets into full swing.

Demand for food assistance – unrelenting as the U.S. economy
slowly recovers from the worst recession since the Great
Depression – ticks higher during the winter holidays.

    • 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."
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