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Hotels, Restaurants and Leisure

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  • May 6- Wendy's Co, the No.3 U.S. burger chain, reported better-than-expected same-restaurant sales for the first quarter and said it planned to sell its bakery operations in the current quarter. Wendy's, like other burger chains including McDonald's Corp and Burger King Corp, has been selling many company-owned restaurants to franchisees to cut costs and...

  • May 5- Guests checking into a hotel run by one of the top chains in the United States can expect to pay 5 percent more this year than last as a brighter economy pushes occupancy to record highs. Hyatt Hotels Corp on Tuesday joined Hilton Worldwide Holdings Inc, Marriott International Inc and Starwood Hotels& Resorts Worldwide Inc in forecasting that group...

  • But investors have pushed the shares of some of those restaurants- Shake Shack Inc, Zoe's Kitchen Inc and Habit Restaurants Inc- to sky-high levels that imply growth expectations that may prove hard for the management to deliver. Shake Shack- the big outperformer- is up 260 percent since it went public at the end of January. Based on the number of locations open at...

  • Steve Easterbrook, CEO of the Golden Arches since just March 1, said on Monday McDonald's Corp would restructure into four operating divisions, squeeze out about $300 million in annual cost savings and sell 3,500 restaurants to franchisees. "It was a presentation designed to get the heat off from Wall Street. It had nothing to do with customers, "said Larry Light,...

  • May 4- McDonald's Corp's new chief executive officer said on Monday he would reorganize business units, sell restaurants to franchisees and cut costs in a bid to turn the fast-food chain into a "modern, progressive burger company." Shares were down nearly 2 percent in premarket trading, then retraced losses to stand off 0.1 percent at $97.70 on the New York Stock...

  • May 4- McDonald's Corp's new chief executive officer said on Monday he would reorganize operating units, sell more restaurants to franchisees and cut costs in a bid to turn the fast-food chain into a "modern, progressive burger company." Shares were down 0.6 percent at $97.24 on the New York Stock Exchange as investors digested the news. Easterbrook's plan, " Miller...

  • May 4- McDonald's Corp's new chief executive officer on Monday laid out a turnaround plan that includes reorganizing the company's operating units, selling more restaurants to franchisees and cutting costs. Expectations were high ahead of the announcement from CEO Steve Easterbrook, who has vowed to lure back customers, boost sales and transform the...

  • McDonald's CEO releases turnaround plan, stock dips Monday, 4 May 2015 | 8:34 AM ET

    May 4- McDonald's Corp's new chief executive on Monday laid out initial plans for luring back customers, boosting sales and transforming the world's biggest restaurant chain by revenue into a "modern, progressive burger company." "I will not shy away from the urgent need to reset this business," said CEO Steve Easterbrook, who took the helm on March 1 following one of...

  • LOS ANGELES, May 3- McDonald's new Chief Executive Steve Easterbrook is set to unveil his plan on Monday to revive growth as the world's largest hamburger chain struggles to win back consumers and investors. He'll be aiming to persuade people such as Janna Sampson, co-chief investment officer at OakBrook Investments, which bought McDonald's shares on the...

  • Overhyped? Mayweather-Pacquiao loses some steam Friday, 1 May 2015 | 11:39 AM ET
    Workers install signs for an upcoming bout at the MGM Grand Garden Arena, April 27, 2015, in Las Vegas. Floyd Mayweather Jr. and Manny Pacquiao are scheduled to fight May 2.

    Sky-high ticket prices and hotel room rates are starting to come down, though they remain inflated beyond anything Vegas has ever seen.

  • Starbucks opens first express store in New York City Thursday, 30 Apr 2015 | 11:33 AM ET

    April 30- Starbucks Corp on Thursday opened the first of five express stores planned for 2015 in New York City as it and other restaurant chains work to give service times a double shot of speed. The opening comes as companies like Starbucks, McDonald's Corp, Panera Bread Co and Chipotle Mexican Grill Inc experiment with ways to boost sales, speed up service and...

  • *Beijing urging banks to support small businesses. BEIJING, April 30- Private entrepreneurs in China are voicing unprecedented criticism of government, encouraged by policies and rhetoric from Beijing emphasising support for the most productive sectors of the economy. In the past two weeks, Premier Li Keqiang has exhorted Chinese banks to cut their fees and...

  • April 29- Starwood Hotels& Resorts Worldwide Inc said it was exploring strategic and financial alternatives and "no option is off the table." Starwood said on Wednesday it had retained Lazard to assist in exploring alternatives. Net income attributable to Starwood fell to $99 million, or 58 cents per share, in the first quarter ended March 31 from $137 million, or 72...

  • Starwood Hotels exploring strategic alternatives Wednesday, 29 Apr 2015 | 7:18 AM ET

    April 29- Starwood Hotels& Resorts Worldwide Inc said it was exploring strategic and financial alternatives and "no option is off the table." Regis and Sheraton hotel brands, rose 6 percent to $86 in premarket trading on Wednesday. The company, which has a market value of about $14 billion, said it had retained Lazard to assist in the process.

  • April 29- Hilton Worldwide Holdings Inc, owner of Waldorf Astoria and Conrad brands of hotels, reported higher-than-expected quarterly revenue, helped by higher room rates and increased occupancy. Net income attributable to shareholders rose to $150 million, or 15 cents per share, from $123 million, or 12 cents per share. Analysts on average expected a profit of...

  • Hilton profit up 22 pct on higher room rates, occupancy Wednesday, 29 Apr 2015 | 6:15 AM ET

    April 29- Hotel operator Hilton Worldwide Holdings Inc reported a 22 percent rise in quarterly profit, helped by higher room rates and increased occupancy. Net income attributable to shareholders rose to $150 million, or 15 cents per share, in the first quarter ending March 31, from $123 million, or 12 cents per share, a year earlier. Excluding items, the company...

  • April 27- Chipotle Mexican Grill Inc on Monday said the 46 ingredients used in its roughly 1,800 restaurants were now free of genetically modified organisms, becoming the first major U.S. restaurant chain to make that switch. U.S. diners, particularly those in the sought-after young millennial generation, are seeking fresh foods that are less processed and...

  • April 27- Restaurant Brands International Inc said on Monday its Burger King and Tim Hortons chains posted their strongest same-store sales performance in years in the first quarter, with customers lured in by popular menu items. The two chains are managed as separate brands under parent Restaurant Brands. Tim Hortons, which had struggled with its U.S....

  • April 23- Starbucks Corp said on Thursday sales at its coffee shops in the Americas region grew more than expected, boosted by sales of breakfast sandwiches, lunch and new drinks, such as Flat White. Sales at Starbucks shops open at least 13 months were up 7 percent in the Americas region for the fiscal second quarter ended March 29. Starbucks' Americas region, which...

  • Starbucks stock perks up as key metric beats Thursday, 23 Apr 2015 | 4:04 PM ET
    A woman walks past a Starbucks cafe in New York.

    Coffee retailer Starbucks met earnings and revenue estimates and reported a key restaurant metric that topped analysts' forecasts.