Sweetgreen's shares fell 10% after the company reported a sharp decline in salad sales due to consumer fears of a cyclospora outbreak and a voluntary jalapeño recall linked to a salmonella outbreak. The company cut its full-year EBITDA loss forecast to $23-27 million, worse than the previous $1-6 million estimate, and expects same-store sales to drop 7-8%. Despite no direct link to the cyclospora outbreak, which has affected thousands nationwide, consumer demand for fresh salads remains weak. The jalapeño recall affects only a small part of Sweetgreen's menu, but the overall impact on sales and recovery timing remains uncertain.
McDonald's recently launched a value menu with 10 items under $3, but customers report poor perceived value, partly due to the chain cutting digital discounts simultaneously. CEO Chris Kempczinski admitted the rollout was mishandled, leading to dissa...
A salmonella outbreak traced to jalapeño peppers grown in Sinaloa, Mexico, has sickened hundreds and hospitalized 36 people across 27 U.S. states. The peppers were distributed by Coast Citrus Distributors and served at thousands of Chipotle and QDOBA...
Chipotle reported better-than-expected Q2 results with a 2.2% increase in comparable sales, driven by new menu items and an improved rewards program. However, despite revenue growth, net income and earnings per share declined due to higher food and l...
Salad and Go has filed for Chapter 11 bankruptcy and will close all its locations due to prior growth challenges, weakening consumer demand, and rising costs. The ongoing cyclospora outbreak, which caused widespread fear of eating lettuce and sickene...
Argus Research raised Chipotle Mexican Grill's price target to $45, reflecting a 21.13% potential upside from its previous target of $37.15. The upgrade follows strong Q2 results, with adjusted earnings of $0.33 per share and a 9.3% revenue increase ...
