Monthly Archive May 2017

ByRamotar

Wendy’s says McDonald’s fresh beef tests aren’t hurting its sales

  • Wendy’s said Wednesday that McDonald’s tests of fresh beef didn’t have “material impact” on the chain.
  • The company said that McDonald’s test actually brought awareness and credibility to Wendy’s.
  • CEO Todd Penegor said that Wendy’s was able to gain about 0.6 percent in consumer traffic share during the first quarter.It seems McDonald’s foray into fresh, never frozen beef hasn’t hurt Wendy’s sales.In fact, Wendy’s said that the Golden Arches’ test of Quarter Pounders with fresh beef actually brought more awareness and credibility to Wendy’s business, which has used fresh beef since 1969.”As we looked at where they were testing, and we were very conscious of what what they were doing, we didn’t see a material impact to our business where that message was coming out,” Todd Penegor, CEO of Wendy’s, said during an earnings call Wednesday.Penegor said that the company was actually able to use social media to capitalize on McDonald’s announcement that it would be rolling out fresh beef for all of its Quarter Pounder burgers nationwide by mid-2018. Wendy’s used its Twitter account, which has more than 1.8 million followers, to poke fun at the Golden Arches for still using frozen beef in all of its other burgers.source :
    cnbc.com
ByRamotar

Starbucks seeing payment system outages

Starbucks sees payment system outage in US and Canada

  • Twitter users report that Starbucks’ payment systems across U.S. and Canada are down.
  • The issue appears to be affecting mobile payment systems as well.
  • Some Starbucks locations are giving out free beverages.

    Some Starbucks customers looking for their cup of Joe Tuesday morning were out of luck.The coffee chains’ payment system was down and baristas were unable to complete transactions.”As part of our normal course of business, overnight we worked to install a technology update to our store registers in the U.S. and Canada,” the company said in a statement.

    Some baristas told CNBC that the outage began Monday night.

    “A limited number of locations remain offline, and we are working swiftly to resume full operations in each of these stores,” Starbucks added. “The stores will remain open during this time and, as always, our partners are prepared to take care of our customers to ensure they have the best experience possible.”

    Source :
    http://www.cnbc.com

ByRamotar

US burger chain Wendy’s quarterly profit, sales beat estimates

  • Wendy’s reported a 12 percent drop in profit, hurt by higher labor costs and lower revenue.
  • Revenue fell to $285.8 million from $378.8 million a year earlier, mainly because the company sold more restaurants to franchisees.
Getty Images

Wendy’s reported higher-than-expected quarterly same-restaurant sales and profit, driven by the popularity of its value meals such as “4 for $4” and lower costs.

The company’s shares were up 5.2 percent at $15.89 in light premarket trading on Wednesday.

Wendy’s in January added the Double Stack cheeseburger, which includes a burger, chicken nuggets, a small serving of fries and a drink, to its “4 for $4” value meals.

The meal and other promotions have helped the burger chain attract diners amid a drop in grocery prices in recent months, which is encouraging more people to cook at home.

Sales at restaurants open at least a year rose 1.6 percent, above the 1.1 percent growth expected by analysts polled by research firm Consensus Metrix.

Net income fell to $22.3 million from $25.4 million in the first quarter ended April 2, the company said.

On a per share basis, the company’s profit remained unchanged at 9 cents per share due to fewer outstanding shares from a year earlier.

Revenue fell 24.5 percent to $285.8 million from a year earlier, mainly because the company sold more restaurants to franchisees.

Analysts on average had expected earnings of 8 cents per share on revenue of $282.6 million, according to Thomson Reuters I/B/E/S.

Source :
cnbc.com1
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