Restaurant earnings marked by slow sales, cost cuts
Restaurant earnings marked by slow sales, cost cuts
![Wendy's /Arby's Group for news Wendy's /Arby's Group for news](https://media.potatopro.com/wendys-arbys-group-logo-1200.jpg?width=1200&height=743&crop=smart&mode=crop)
Third-quarter earnings results continued to showcase both bottom-line improvements driven by cost cutting, as well as stalled sales driven by consumers’ reluctance to start spending.
Wendy’s and Arby’s followed quick-service players McDonald’s and Burger King into the realms of reduced sales growth, which each operation plans to combat with more value items. Arby’s, for example, is expanding its test of a $1 value menu and will continue to promote its $5.01 combo meals.
Higher-end concepts, like Morton’s and McCormick &Schmick's, continue to feel the pressure of reduced business expenses, which have typically driven large business lunches and private parties.
Some companies, like Papa John’s International Inc. and Starbucks Corp. provided a silver lining to restaurant industry results by increasing their annual earnings guidance on better-than-expected results. Additional bright spots throughout the industry included reduced food costs and some outlooks that October sales trends have improved slightly.
Uitgelichte Bedrijven
Related News
![J&J green paper, a Miami-Dade company, announces the implementation of its game-changing sustainable packaging initiative Janus® in partnership with arcos dorados, the largest MCDonald's independent franchisee in the world J&J green paper, a Miami-Dade company, announces the implementation of its game-changing sustainable packaging initiative Janus® in partnership with arcos dorados, the largest MCDonald's independent franchisee in the world](https://media.potatopro.com/arcos-dorados-mcdonald-1200.png?width=600&height=357&crop=center&mode=crop)