Food & Beverage
Starbucks Corp reported higher quarterly profit on Thursday as new food, drinks and technology helped the world's biggest coffee chain attract more customers.
Sales at Starbucks shops open at least 13 months were up 7 percent globally in the latest quarter, with an estimated 23 million more customer transactions than in the year-earlier quarter as various sales-boosting projects took hold.
McDonald's reported lower quarterly earnings on Thursday behind a drop in comparable sales and declining traffic in all major segments.
Earnings for the second quarter fell 13.3 percent to USD1.2 billion. Revenues dropped 9.5 percent to USD6.50 billion.
Comparable restaurant sales decreased globally 0.7 percent, with the chain's home market of the US declining 2.0 percent and the Asia Pacific/Middle East/Africa region falling 4.5 percent.
Starbucks says people will soon be able earn rewards points by using the ride-hailing service Lyft, a move intended to further expand the universe of its loyalty program.
The companies said the program will be rolled out later this year. People will essentially be able to earn Starbucks "stars" for using Lyft, and drivers will be given stars for reaching "certain milestones," said John Zimmer, Lyft's co-founder and president. The companies did not have further details on how the program would work.
Yum Brands Inc, the owner of Pizza Hut and KFC, reported its fourth straight quarter of falling sales as it struggles to recover from a food scandal in China, a market where the company makes most of its profit.
The company's sales at established KFC and Pizza Hut restaurants in China plunged after a television news story in July last year alleged that one of its suppliers was using meat that was past its expiration date.
Fried chicken aficionados queued for hours at Myanmar's first KFC restaurant last Tuesday, as the US restaurant chain became the latest big foreign brand to open an outlet in the long-cloistered nation.
KFC is the first major US fast food chain to open in the country as reforms and the removal of most sanctions since the end of outright junta rule tempt investors to a market of millions of prospective consumers.
The firm and its local partner – Yoma Strategic – hope it will be the first of many restaurants across the Southeast Asian nation.
Swiss chocolate connoisseur Lindt is set to open a shop in Brisbane.
Lindt & Sprüngli Australia will open its first Queensland store at the Brisbane Airport DFO centre in August, following an AUD30 million (USD23m) expansion of Skygate that will add an extra 5000 square metres of retail space.
Lindt said its chocolate shop would sell Lindor balls that are only available at its shops and cafes in New South Wales and Victoria.
One of Australia's first foodie emporiums, Jones the Grocer, has welcomed the entry of David Jones and its South African owner into the gourmet food market, saying there's plenty of room for new players as consumers become increasingly willing to pay a premium for "real" food.
"People these days want real food and there's a big movement towards real food, from farm to table," said Jones the Grocer chief executive Mark Watson. "As people get more educated about food there's definitely room [for more]."
The Italian firm behind Ferrero Rocher chocolates and Nutella spread has agreed to buy British chocolate retailer Thorntons for GBP112 million (USD176.8m), striking a rare deal to expand in Europe's biggest confectionery market.
The deal is the first by family-owned Ferrero International since the death earlier this year of patriarch Michele Ferrero, who was Italy's wealthiest man and largely shied away from acquisitions as he built up a business that also spans Kinder Surprise eggs and Tic Tac mints.
People visiting the site of the old ANZ bank in Perth's Myaree might find themselves withdrawing a different kind of dough – with Western Australia's second Krispy Kreme store set to open there next month.
Builders have been at the premises for several months, with the tell-tale signage revealed a few weeks ago.
With several retailers in the area already stocking the sweet treats, it remains to be seen as to whether the new store will whip up the frenzy seen last November, when the doughnut giant's first WA outlet opened at the Whitford City shopping centre.
Money-losing McDonald's Japan said on Wednesday it will try to regain customer confidence in their products by allowing children and their parents to cook burgers in its kitchens under the instruction of its staff.
From next Tuesday to 29 June, children aged 3 to around 12 and their parents can participate in the "Mac Adventure" program at some 650 restaurants across Japan, wearing the McDonald’s uniform and making a health-conscious item introduced on 25 May for children – a burger with a chicken patty that includes corn, carrots and soybeans.