LOS ANGELES, Feb 4 (Reuters) – California’s attorney general
on Wednesday filed notice that her office will appeal a federal
judge’s decision that overturned the state’s two-year ban on
sales of foie gras, a delicacy made from fatty duck and geese
California outlawed foie gras sales and production in 2004,
but the ban did not take effect until 2012. Proponents of the
ban say forced feeding of ducks and geese to enlarge their
livers amounts to animal cruelty.
Feb 4 (Reuters) – Yum Brands Inc, owner of KFC and
Pizza Hut, said on Wednesday that sales at established
restaurants in its biggest market China fell less than feared in
the fourth quarter as it fights to recover from a food scandal
involving a minor supplier, and its shares jumped 2.1 percent.
Same-restaurant sales in China, Yum’s No. 1 market for
revenue and profit, fell 16 percent for the quarter that ended
Dec. 27 on continued fallout from allegations that a former
supplier used expired meat.
Feb 4 (Reuters) – Starbucks Corp said on Wednesday
that its 12,123 U.S. shops would begin offering coconut milk on
Feb. 17, as it seeks to keep pace with soaring demand for
non-dairy and non-soy milk alternatives.
Starbucks began offering soy milk in 1997. Consumer tastes
have since evolved, driving strong demand for other non-dairy
alternatives made from products such as coconuts, hemp, rice,
almonds and other nuts.
Feb 3 (Reuters) – Chipotle Mexican Grill Inc on
Tuesday reported sales growth at established restaurants slowed
in the fourth quarter and slightly missed Wall Street’s
estimate, sending shares down more than 6 percent in after-hours
The fast-growing burrito chain known for antibiotic-free
meats and organic produce when available is the envy of the
restaurant industry. Its stock trades at a rich valuation and is
harshly punished when it fails to exceed Wall Street’s lofty
By Amrutha Gayathri and Lisa Baertlein
(Reuters) – Shares of trendy hamburger chain Shake Shack Inc (SHAK.N: Quote, Profile, Research) soared as much as 150 percent in their first day of trading on Friday, valuing a company with only 63 restaurants at nearly $2 billion.
The sizzling debut follows the successful listing two months ago of Habit Restaurants Inc (HABT.O: Quote, Profile, Research), highlighting strong appetite for shares of companies serving up premium burgers. Other hot fast-casual restaurant debuts have been followed by stock swoons, including Noodles & Co (NDLS.O: Quote, Profile, Research) and sandwich maker Potbelly Corp (PBPB.O: Quote, Profile, Research).
LOS ANGELES, Jan 30 (Reuters) – McDonald’s franchisees have
a fast order for the fast food giant’s new CEO – get back to
basics. In interviews franchisees and advisors to restaurant
owners say they hope the new chief will clean up a huge menu to
focus on burgers and fries.
McDonald’s on Wednesday announced that Chief Brand Officer
Steve Easterbrook would replace Don Thompson as chief executive
after he had held the post just two and a half years.
By Lisa Baertlein and Avik Das
(Reuters) – Growth-hungry investors snapped up shares offered by Shake Shack Inc (SHAK.N: Quote, Profile, Research), setting the stage for a sizzling debut for the New York-based burger chain when its stock starts trading on Friday.
Shares of the company, which has won a cult following for its rich milkshakes and hormone- and antibiotic-free burgers, priced at $21 each, an underwriter said, valuing the chain that started as a hotdog cart in a park at about $745 million.
Jan 29 (Reuters) – Growth-hungry investors are lining up for
shares of burger chain Shake Shack, which plans to
price its initial public offering after the U.S. stock market
closes on Thursday.
The IPO market lately has been particularly fruitful for
so-called fast-casual chains such as Shake Shack rival Habit
Restaurants Inc and others that hope to replicate the
red-hot growth of burrito chain Chipotle Mexican Grill Inc
Jan 23 (Reuters) – McDonald’s Corp warned on Friday
that business will be weak in the first half of 2015 and it is
cutting its annual construction budget to the lowest in more
than five years as it opens fewer restaurants in struggling
The world’s largest fast-food chain, with more than 36,000
restaurants around the globe, just finished one of its toughest
years in decades.
Jan 22 (Reuters) – Starbucks Corp on Thursday said
traffic to its Americas-region stores perked up during the
holiday quarter, easing investor jitters about slower growth and
boosting shares over 4 percent in after-hours trading.
The world’s biggest coffee chain also announced that
director Kevin Johnson would become Starbucks president and
chief operating officer, effective March 1, replacing long-time
executive Troy Alstead, who said he is taking an extended
sabbatical to spend time with his family.