Food & beverage news & headlines
Latest breaking stories, features and analysis
- Starbucks reported fiscal fourth quarter results that came in better than expected.
- While revenue and comps were still negative, other metrics signal a clear rebound from April.
- CEO Kevin Johnson said the recovery is happening faster than expected.
Latest Food & beverage news
The Coca-Cola Company (NYSE: KO) published its financial results for the fiscal third quarter on Thursday that came in stronger than what analysts had anticipated. In the prior quarter (Q2), Coca-Cola had registered a 33% decline in earnings. Shares of the company jumped 2.5% in premarket trading on Thursday but lost over 1% on market open. Including the price action, Coca-Cola is now exchanging hands at £38.61 per share. In comparison, it had a...
Chipotle Mexican Grill Inc. (NYSE: CMG) said on Wednesday that its sales in the fiscal third quarter returned to the growth zone despite the ongoing Coronavirus pandemic. Chipotle slid close to 3.5% in extended trading on Wednesday. Including the price action, shares of the company are now trading at £1,005 per share that represents a roughly 200% recovery in the stock market since March when the stock had touched a year to date low of £355 per s...
Marston’s plc (LON: MARS) published its full-year trading statement on Thursday that reported sales in fiscal 2020 to have taken a significant hit due to the Coronavirus pandemic that has so far infected more than 650 thousand people in the United Kingdom and caused over 43 thousand deaths. Marston’s to cut 2,150 jobs due to new COVID-19 restrictions New restrictions attributed to the COVID-19 crisis, the company added, will result in a sizeable...
Domino’s Pizza Inc. (NYSE: DPZ) published its earnings report for the fiscal third quarter on Thursday that highlighted a significant annualised growth in profit and revenue. The company attributed its hawkish performance to the Coronavirus pandemic that increased demand for pizza home deliveries as people remained restricted to their homes. Shares of the company were reported about 6% down in premarket trading on Thursday and tanked another 2% o...
Restaurant Group plc (LON: RTN) said on Tuesday that its pre-tax loss in the fiscal first half broadened due to the Coronavirus pandemic that has so far infected more than 500 thousand people in the United Kingdom and caused over 42 thousand deaths. Shares of the company opened about 8% up on Tuesday. Including the price action, Restaurant Group plc is now exchanging hands at 58 pence per share that represents a close to 150% increase since March...
Conagra Brands Inc. (NYSE: CAG) said on Thursday that its organic net sales in the fiscal first quarter came in 15% higher on a year over year basis. The company attributed the increase to a 10.9% annualised growth in volume. Experts had forecast the company to report a much lower 10.9% growth in organic net sales in the recent quarter. Conagra’s sales from foodservice plummeted 21.8% Conagra generated £880 million of net sales from its Grocery &...
Constellation Brands Inc (NYSE: STZ) published its earnings report for the fiscal second quarter on Thursday that topped Wall Street estimates for earnings despite the ongoing Coronavirus pandemic crisis that has so far infected more than 7.4 million people in the United States and caused over 210 thousand deaths. Constellation Brands was reported trading slightly lower in premarket trading on Thursday. Including the price action, shares of the c...
PepsiCo Inc. (NASDAQ: PEP) published its earnings reports for the fiscal third quarter on Thursday that came in stronger than what analysts had anticipated. PepsiCo partnered with USAID in September to empower women in Agriculture. Shares of the company were seen trading 2% up in premarket trading on Thursday. Including the price action, PepsiCo is now exchanging hands at £108.25 per share. In comparison, it had plummeted to as low as £81 per sha...
McCormick & Co. Inc. (NYSE: MKC) published its earnings report for the fiscal third quarter on Tuesday that came in better than what the experts had forecast. The company announced a stock split (2 for 1) and reinstated its guidance for the full year on the back of robust demand amidst the Coronavirus pandemic that continued to make people dine at home. McCormick was reported trading about 1.5% up in premarket trading on Tuesday. Its shares a...
Cal-Maine Foods Inc. (NASDAQ: CALM) published its earnings report for the fiscal first quarter on Monday that highlighted the company to have concluded Q1 with a narrower than expected loss. Its sales in the recent quarter also blew past Wall Street estimates. Shares of the company jumped close to 4% in premarket trading on Monday. Cal-Maine Foods is now exchanging hands at £30.20 per share versus a year to date low of £24 per share in March due...
Darden Restaurants Inc. (NYSE: DRI) published its earnings report on Thursday that highlighted the company to have generated lower than expected sales in the fiscal first quarter. The Orlando-based restaurants took a massive hit in recent months due to the Coronavirus pandemic. Shares of the company closed just under 5% up in the regular session on Thursday. On a year to date basis, Darden Restaurants is still roughly 13% down in the stock market...
General Mills Inc. (NYSE: GIS) published its financial results for the fiscal first quarter on Wednesday that came in stronger than what the analysts had anticipated. On the back of its hawkish quarterly performance, General Mills also raised its dividend on Wednesday. The company said it is committed to reducing greenhouse gas (GHG) emissions by a minimum of 30% by 2030. General Mills opened more than 1% up on Wednesday but gave up most of its i...
In an announcement on Wednesday, SSP Group plc (LON: SSPG) said that signs of recovery were evident in weekly sales after it reopened a few of its stores for the public as the government eased COVID-19 restrictions. For the second half as a whole, however, the company still forecasts a massive 86% decline in sales. SSP had expressed plans of cutting its workforce in the UK by 5,000 jobs in July attributed to COVID-19 restrictions. SSP said that i...
In an announcement on Tuesday, A.G. Barr plc (LON: BAG) said its pre-tax profit in the fiscal first half came in lower on a year over year basis. The company attributed the decline to the Coronavirus pandemic that hurt its sales in H1. COVID-19 has so far infected more than 398 thousand people in the United Kingdom and caused over 41 thousand deaths. A.G. Barr opened about 2% up in the stock market on Tuesday. Shares of the company jumped another...
In an announcement on Thursday, Hilton Food Group plc (LON: HFG) reported a 38.6% growth in its revenue in the fiscal first half. The company attributed the increase to the Coronavirus pandemic that fuelled a trend of at-home dining in recent months. Shares of the company are currently 1% up in the stock market on Thursday. On a year to date basis, Hilton Food is now 9% up. At the time of writing, the £993 million company has a price to earnings...
Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY) published its quarterly financial results on Thursday after the bell, that topped analysts’ estimates for revenue in the fiscal second quarter. Its loss per share in Q2, however, came in narrower than expected. Shares of the company were seen trading about 1.5% down in extended trading on Thursday. Including the price action, Dave & Buster’s is now exchanging hands at £13.79 per share vers...
The Chief Operating Officer of Just Eat Takeaway.com (AMS: TKWY), Joerg Gerbig, expressed confidence on Friday that GrubHub (NYSE: GRUB) in the United States is better positioned as compared to its competitors, despite having slid to the third place. Shares of GrubHub are currently about 2.5% down on Friday. At £51.63 per share, GrubHub is roughly 45% up year to date in the stock market after recovering from a low of £22.78 per share in March whe...