Starbucks shares fall after inflation-battered customers warning
Starbucks stock soared Wednesday as the company's inflation-hit customers cut back on expensive coffee, even as new CEO Brian Nicol begins a turnaround plan. The stock fell in response to a warning that The Seattle-based Java giant released preliminary results for its latest quarter, revealing same-store sales fell 7% in the fourth quarter, the biggest […]
Let ’em eat steak! NYC restaurants serve up cheaper cuts to lure inflation-battered red meat fans
Record-high steak prices have led savvy Big Apple restaurateurs to offer cheaper options like steak frites to lure cash-conscious diners still looking for lean meat dishes. A survey of side dishes revealed that they are forced to do so. The popular French dish, made with cheaper steaks like hanger and top sirloin, is appearing alongside […]
Walmart raises outlook on strong demand from inflation-battered shoppers
Walmart Inc. reported a better-than-expected second-quarter profit and raised its annual outlook as inflation-hit shoppers flocked to the company’s low-priced food, clothing and household goods. Walmart shone thanks to its affordable prices: Same-store sales excluding fuel rose 4.2% in the second quarter from a year ago, beating expectations. The company’s U.S. online sales jumped 22% […]
McDonald’s $5 value meals lure back inflation-battered customers: survey
Fast-food and casual-dining chains have been offering affordable meal plans this year to win back shoppers battered by inflation, and new data suggests it’s working. Restaurants including McDonald’s, Starbucks, Chili’s and Buffalo Wild Wings saw increased foot traffic after introducing meal bundles and limited-time discounts, according to a new study. McDonald’s launched its long-awaited $5 […]
PepsiCo revenue disappoints as inflation-battered customers cut back
PepsiCo Inc.’s second-quarter profit soared but sales fell short of Wall Street expectations as cash-strapped customers cut spending on snacks amid rising inflation. The junk-food conglomerate, which owns brands including Pepsi, Frito-Lay, Quaker and Gatorade, also lowered its forecast for fiscal 2024, predicting organic revenue growth of 4%. While that figure technically meets PepsiCo’s original […]
Amazon Fresh to cut grocery prices by as much as 30% to bring back inflation-battered customers
Amazon is joining other big retailers including Target and Walmart in slashing grocery prices by as much as 30% to attract inflation-weary customers. The company announced it would cut prices on 4,000 items at its online AmazonFresh grocery store and a handful of its brick-and-mortar stores. Amazon Fresh customers can get discounts on meat, seafood, […]