(Reuters) – Hundreds of fast-food employees in Detroit walked off the job on Friday, temporarily shuttering a handful of outlets as part of a growing U.S. worker movement that is demanding higher wages for flipping burgers and operating fryers.
The protests in the Motor City – which is struggling to recover from the hollowing out of its auto manufacturing sector – marked an expansion in organized actions by fast-food workers from ubiquitous chains owned by McDonald’s Corp, Burger King Worldwide and KFC, Taco Bell and Pizza Hut parent Yum Brands Inc.
May 8 (Reuters) – McDonald’s Corp, Wendy’s Co
and other U.S. restaurants are battling for the
attention of frugal diners with coupons, limited time offers and
other promotions – a fight that could intensify if the costs of
beef, chicken and other key ingredients remain less pricey than
An expected sharp spike in food prices from last summer’s
historic drought has failed to arrive, giving restaurant
operators “more ammunition to play the promotional and value
game if they want to,” said Edward Jones analyst Jack Russo.
(Reuters) – Herbalife Ltd posted surprisingly strong quarterly earnings and raised its full-year profit forecast on Monday, putting pressure on high-profile investor Bill Ackman, who is betting against the nutritional products company.
Ackman’s Pershing Square Capital has a $1 billion bet against the “multi-level marketer” whose weight loss products are sold through a network of independent individuals. In recent months Ackman has called the Los Angeles-based company “a pyramid scheme” and predicted that its shares will eventually be worthless.
April 19 (Reuters) – McDonald’s Corp on Friday threw
cold water on hopes that its restaurant sales would accelerate,
warning that global sales at established restaurants would be
slightly lower in April.
The forecast sent shares of the world’s biggest fast-food
chain down 1.8 percent to $100.10 in morning trading.
, April 16 (Reuters) – California farm worker
Antonia Espinoza would likely be throwing in the towel and
heading back to her native Mexico to see her children, if not
for the work of eight U.S. senators in Washington.
The bipartisan group of senators unveiled on Tuesday their
proposal for immigration reform that would remove the threat of
deportation for millions of undocumented workers and open a door
for them to one day become U.S. citizens.
April 12 (Reuters) – Starbucks Corp on Friday said
it would cut grocery list prices on its namesake and Seattle’s
Best packaged coffee by 10 percent or more on May 10, as coffee
costs fall and it fights for more sales through supermarkets and
Competition in the coffee grocery aisle is intense and
Starbucks’ move follows price reductions by rival packaged
coffee sellers earlier this year.
(Reuters) – Burger King Worldwide Inc (BKW.N: Quote, Profile, Research, Stock Buzz) forecast a slightly higher quarterly profit on Thursday than Wall Street expected, even though spending among fast-food diners remains weak.
The hamburger chain, which has a long history of ownership and management changes, also said Chief Executive Bernardo Hees will leave to take over at H.J. Heinz Co (HNZ.N: Quote, Profile, Research, Stock Buzz).
April 11 (Reuters) – Yum Brands Inc, the biggest
foreign fast-food chain operator in China, is in danger of
breaking its 11-year streak of double-digit profit growth as it
scrambles to deal with food scares and bird flu in its most
The U.S.-listed firm, the world’s largest restaurant company
by number of outlets, said in a filing Wednesday that the latest
deadly avian flu outbreak would have a “significant, negative
impact” on sales at KFC stores in China in April.
(Reuters) – KFC parent Yum Brands Inc warned that a new bird flu outbreak in China badly hit restaurant sales there this month, even as the company also reported a sharper-than-expected slide in March sales in the country caused by the lingering impact of a separate food safety scare.
“Within the past week, publicity associated with Avian flu in China has had a significant, negative impact on KFC sales,” the company said in a regulatory filing on Wednesday.
April 10 (Reuters) – KFC parent Yum Brands Inc on
Wednesday reported a sharper-than-expected 13 percent drop in
March sales at established restaurants in China as it works to
recover from a food safety scare and warned that the country’s
new bird flu outbreak took a big toll this month.
The outbreak has already sickened 33 and killed nine, as
Chinese authorities try to clamp down on rumors about the deadly
virus and its potential spread.