Miscellaneous

The National Federation of Independent Business (NFIB) reported this week that small business job openings set a new record in the month of March with 42% of the responding firms reporting that they had job openings last month. Further, NFIB reports that 56% of business owners added workers during the month while 25% of those…

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Starbucks

Last week, Starbucks announced that the company would be testing out cold pressed espresso in a limited number of stores throughout 2021. The cold pressed espresso was initially introduced at the Starbucks Reserve Roastery in Seattle in 2017.  In addition, the company also announced that it would be rolling out large print and braille menus later…

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Miscellaneous

Starbucks Shareholders yesterday rejected an eye-popping executive compensation proposal for the C-Suite that included a $1.86 million payout for CEO Kevin Johnson as a performance bonus for fiscal year 2020 along with $50M in “retention pay” if the CEO were to stick around with the company through fiscal year 2022! Although the rejected resolution was…

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Starbucks Earnings

Starbucks reported Q1 sales and earnings on Tuesday of this week with both global and US same store sales slightly weaker than expectations at minus 5%. Like other QSR operators, the US same store sales trend worsened somewhat through December, but the company sees January coming in at minus 2. While the company reported US transactions were…

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Miscellaneous

We noted some weeks back that congratulations are in order for a former Dunkin’ employee, but other news precluded us from getting to it sooner. Former northeast regional vice president for Dunkin’ Bill Bode has been promoted to the position of Chief Operations Officer at New Hampshire-based fitness franchise Planet Fitness. Elsewhere, we took note…

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Miscellaneous

McDonalds corporate sure knows how to “rob Peter to pay Paul”, as the old saying goes. The company hosted a webcast earlier this month to advise its franchisees (Peter) that a long-time company subsidy used to keep the price of a Happy Meal down would end on New Year’s Day 2021. Further, the company is…

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Starbucks

A couple of days ago, Starbucks was upbeat hosting its 2020 Investor Day, at which the company announced that it will be rolling out an oat milk platform in 2021. At the same time, CEO Kevin Johnson also reported that US comp sales are currently negative low mid-single digits and that they’ve softened further in…

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Miscellaneous

Earlier this month, the U.S. Bureau of Labor Statistics reported that average hourly earnings for all employees actually increased 0.1 percent from September to October 2020. Notwithstanding ongoing challenges from the coronavirus pandemic and its recent spikes, real average hourly earnings year over year increased 3.2 percent from October 2019 to October 2020. The Consumer…

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Starbucks

Like Dunkin Brands, Starbucks also held an earnings call yesterday reporting on its Q4 results. Overall, it beat analyst expectations, but its US business is in worse shape. US same-store sales were 9% negative, matching the 10 negative percentage points it has been trailing Dunkin US by throughout the spring and summer months. Its Q4…

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