Restaurants

Airbnb stock fell sharply despite outperforming earnings, and plans to buy back $2 billion in stock

Airbnb said Tuesday that it made a second-quarter profit as a public company, and that it’s so confident in its business that it’s buying back $2 billion of its stock. “Our results for the second quarter show that Airbnb has achieved broad-based growth and profitability,” CEO Brian Chesky said during prepared remarks on the company’s …

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Starbucks union asks coffee giant to extend wage and benefits hike to union stores

As wage increases begin at Starbucks coffee shops across the United States Monday, labor regulators are asking the coffee giant to extend benefits to union stores as well without going through the bargaining process. The request comes after Starbucks announced in May that it would raise workers’ wages and add other benefits such as a …

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New York City workers wait 90 minutes in line for a modern cava lunch

The lunch rush in Midtown is back. On a sweltering summer’s day in midtown Manhattan, where no one is supposed to be working anymore, a fashionable crowd lined the sidewalk in front of Cava’s fast Mediterranean restaurant. The Greek-inspired series’ Broadway and 38th Street location was jokingly hailed as “the toughest club to get into …

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There is deflation in some items as Wingstop notes that chicken wings prices are dropping

Three months ago, Wingstop put a shocker in its earnings statement: It was seeing the contraction in chicken wings costs. The chicken chain repeated the trend with its latest results Thursday morning and its stock rose 20% on the back of the news. “We are benefiting from massive shrinkage in the wings,” CEO Michael Skipworth …

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Getano Island is the latest disappointing scam in New York City

It was supposed to be one of the hottest places for this summer, but it left customers cold. The opening of Gaetano Island – an offshoot of a popular Tulum bar and restaurant that has long had scenic seasonal pop-ups in downtown New York – was relentlessly anticipated. Founder James Gardner told The Post he …

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McDonald’s and Chipotle say customers trade lower, and visit less when inflation hits budgets

McDonald’s and Chipotle Mexican Grill say inflation-stressed customers are choosing cheaper menu items and visiting their restaurants more often, indicating trends that could hit the broader restaurant industry. The two companies were among the first restaurant chains to report second-quarter results. Wingstop, Starbucks and Yum Brands, owner of Taco Bell, are set to release their …

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McDonald’s Profits: Customers ignore high menu prices as revenue rises

New York CNN Business – McDonald’s raises menu prices and customers eat them. The company said Tuesday that sales at US McDonald’s restaurants that open at least 13 months ago jumped 3.7% in the second quarter. This growth was driven by higher menu prices and “value offerings” on its regular menu as well as through …

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The famous New York City Boathouse will be closed due to rising costs

The prominent lakeside wedding venue in Central Park will be closing, launching paddle boat rentals and the Loeb Boathouse Restaurant this fall. In a notice filed with the New York State Department of Labor this month, owner Dean J. Paul formalized his plans to permanently close the business “due to rising labor and merchandise costs.” …

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