Food & beverage news & headlines
Latest breaking stories, features and analysis
- Restaurant Brands International’s revenue comes in 25% lower due to COVID-19 restrictions.
- The fast food company posts £800 million in revenue and 25.06 pence of adjusted EPS.
- The Toronto-headquartered company refrains from giving future guidance due to COVID-19.
Latest Food & beverage news
Shares of plant-based food maker Beyond Meat Inc (NASDAQ: BYND) came under selling pressure on Thursday after rival Impossible Foods announced a new mega-deal with retail behemoth Walmart Inc (NYSE: WMT) Impossible Foods at more than 2,000 stores Impossible Foods said in a Thursday press release it’s plant-based “Impossible Burger” can be purchased at nearly 2,100 Walmart stores across the U.S. The faux-hamburger will sell in 12-ounce packages an...
Yum Brands (NYSE: YUM) published its quarterly financial results on Thursday that highlighted a 15% plunge in its global comparable-store sales in the fiscal second quarter. The company attributed the decline to the Coronavirus pandemic that pushed its dining rooms into temporarily shutting down in recent months. At the peak of COVID-19 restrictions, Yum had to shut down over 20% of its restaurants (11,000 in total). It, however, said that signs...
Starbucks (NASDAQ: SBUX) released its quarterly financial results on Tuesday which revealed the company to have swung to a net loss in the third quarter. The company attributed the decline to the Coronavirus pandemic that fuelled a 40% decline in its global same-store sales. Shares of the company were reported about 6% up in extended trading on Tuesday. At £60.84 per share, Starbucks is currently more than 10% down year to date in the stock marke...
McDonald’s (NYSE: MCD) published its quarterly earnings report on Tuesday that highlighted a 30% decline in net revenue as COVID-19 pushed its international restaurants into temporarily shutting down in the second quarter. McDonald’s said earlier this week that it will require its customers to wear masks. Shares of the company were reported 3.6% down in premarket trading on Tuesday. At £155.43 per share, McDonald’s is currently trading around the...
Greggs (LON: GRG) revealed to have swung to a loss in the first half (H1) of the current financial year on Tuesday. The company, however, expressed confidence that its sales have almost broken even in the recent week as the British government started lifting COVID-19 restrictions. British Mitie Group also reported an 11% decline in revenue in H1 on Tuesday. Shares of the company opened more than 1% down on Tuesday and dropped another 1% in the ne...
Albertsons (NYSE: ACI) released its quarterly financial results on Monday that highlighted stronger than expected earnings in the fiscal first quarter. The company published its first earnings report today after going public last month. Albertsons returned to NYSE on 26th June at a per-share price of £12.02. The company had previously decided to go private in 2006. Shares of the company jumped about 1% in premarket trading on Monday. At £12...
According to City Pub Group (LON: CPC), early signs of recovery in trading were evident in the three weeks after the British government allowed businesses to resume operations. On a year over year basis, however, it said that its revenue was still down by 37% versus the comparable period of last year. Ryanair also said on Monday that its revenue tanked 95% in Q1. Shares of the company opened more than 3% up on Monday and jumped another 1% on mark...
Britvic (LON: BVIC) said on Wednesday that its revenue in the fiscal third quarter came in lower than expected. The company attributed its dovish performance in Q3 to the Coronavirus pandemic that pushed restaurants, bars, and related outlets to temporarily shut down in recent months. Shares of the company opened more than 1% down on Wednesday and dropped another 1% on market open. At 793 pence per share, Britvic is currently 12% down year to dat...
Coca-Cola (NYSE: KO) published its quarterly earnings report on Tuesday that highlighted its revenue to have tanked the sharpest in the second quarter in over two decades. The company, however, expressed confidence that demand was recovering quickly as governments started easing COVID-19 restrictions in June. Coca-Cola had previously published an upbeat earnings report for the first quarter in April. Shares of the company were reported about 1% u...
Cal-Maine Foods (NASDAQ: CALM) published its quarterly financial results on Monday that highlighted the company to have returned to profit in the fiscal fourth quarter. Cal-Maine donated 300,000 eggs to Alabama food banks last week. Shares of the company are currently more than 2% down on Monday. At £34.26 per share, Cal-Maine Foods is roughly 3% up year to date in the stock market after recovering from a low of £24.48 per share in March. Learn m...
Domino’s Pizza (NYSE: DPZ) released its quarterly financial results on Thursday that highlighted a 16.1% increase in its second-quarter same-store sales in the United States. The company attributed the increase to COVID-19 that fuelled pizza home deliveries in recent months. In late May, Domino’s had noted a 14% increase in its U.S. comparable-store sales in the first 2 months of the second quarter. Shares of the company were reported over 1% up...
PepsiCo Inc. (NASDAQ: PEP) released its quarterly financial results on Monday that highlighted a decline in its revenue in the second quarter. The company attributed the decline to the Coronavirus pandemic that pushed restaurants and convenience stores into temporarily shutting down, resulting in lower sales of its drinks in recent months. PepsiCo acquired Rockstar Energy for £3.09 billion in April. Its food items, including oatmeal and Cheetos,...
Carlsberg (CPH: CARL-B) expressed confidence on Friday that its operating profit in the first of the current financial year will see a narrower decline than previously estimated. The Danish brewer attributed its hawkish outlook to the Chinese market that it said recovered quickly in the second quarter as the government eased COVID-19 restrictions. Carlsberg’s UK arm announced a merger with Marston’s in May. Shares of the company jumped roughly 5%...
Delivery Hero (ETR: DHER) said on Friday that its orders grew by about 100% in the second quarter as the Coronavirus pandemic restricted people to their homes and fuelled a trend of ordering food online. The food delivery company operates in more than 40 countries in Asia, Europe, Latin America, and the Middle East. It also has more than 500,000 partners internationally and is headquartered in Berlin, Germany, where COVID-19 has so far infected a...
Associated British Foods (LON: ABF) said on Thursday that its fashion subsidiary, Primark, has shown robust trading in recent weeks at its reopened stores. The prolonged COVID-19 restrictions, however, are still likely to result in an over 65% decline in the retailer’s annual profit. Primark currently lacks an e-commerce unit. Shares of the company were reported more than 6% up in premarket trading on Thursday. At £20.7 per share, Associated Brit...
Mitchells & Butlers (LON: MAB) swung to a loss in the first half (H1) of the current financial year. It is scheduled to reopen the majority of its England-based sites on 4th July but said on Thursday that the Coronavirus pandemic raises novel challenges in operating its pubs and restaurants and that social distancing makes it hard to predict the consumer demand in the upcoming weeks. Shares of the company are currently 5% up on Thursday. At 2...
Constellation Brands Inc. (NYSE: STZ) released its quarterly financial results on Wednesday that topped analysts’ estimates for profit and sales in the first quarter. The company attributed its success to higher than expected demand for wine and spirit in the recent quarter. Beer sales, it said, were weighed in Q1. Shares of the company were reported 2.9% up in premarket trading on Wednesday. At £150 per share, Constellation Brands is currently l...