Insights: Dec 15 2024

Important news related to fast food industry for December 15, 2024. Each one of these links take you to external site.

This week in fast food:

Starbucks CEO turnaround attempt:

  • Starbucks new CEO have stated multiple times that he will focus on going back to basics. His new mantra seems to be “Back to Starbucks”. If you look at the company’s recent press release you can see that in practice. Its recent press release talks more about the history and nostalgia than just about the products.  

Unwanted attention on McDonald’s:

  • If being center of presidential election was not enough, McDonald’s recently getting coverage about the killing of the CEO of the United Healthcare. These does not necessarily impact the sales of the company but it is probably not the type of publicity its marketing department wanted. McDonald’s was in news a lot this year and CNN created whole post just about McDonald’s on news. 

Price Increase in Chipotle:

  • Chipotle announced that it will increase price 2% nationally. it’s not a secret that many fast food companies are impacted by inflation. Especially on recent wage growth. This is after Chipotle had to deal with recent viral controversy about portion size. 

Domino's Pizza moving from NYSE to NASDAQ

  • Domino's is making move from NYSE to NASDAQ select market. It will still use DPZ. This comes as Domino's is working hard to increase its digital presence like agreement with Uber last year . That being said, it's stock is not having the best time as year to date its up only about 9.7% compared to S&500 27.58% or CMG's ~43%.

Skylark Holdings (3197.T) announces acquisition of CC Group

  • Skylark Holdings announced acquisition of CC Group ( Createries ConsultancySdn. Bhd.). CC is malaysia based fast food comapny. Skylark already has presence in Malaysia with its Syabu-Yo brand. It is expecting synergy with this acquisition. Overall this acquisition might not impact the overall finance of the company but it is sign of Japanese companies diversifying, considering its aging population and intense competition in its local market.

Other Quick highlights:

  • DRI (Darden Restaurant International) announces Daryl Kenningham as new board member.

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