ReportWire

Tag: Restaurants

  • Trump’s family business ordered to pay $1.6 million in tax-fraud fines

    Trump’s family business ordered to pay $1.6 million in tax-fraud fines

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    Former President Donald Trump’s family business was ordered to pay about $1.6 million in criminal fines following its tax-fraud conviction in December. New York State Supreme Court Justice Juan Merchan imposed the penalty at a hearing Friday, according to the Wall Street Journal. A jury in December found two Trump Organization entities guilty of 17 criminal counts, including tax fraud and conspiracy.

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  • Starbucks CEO Howard Schultz tells corporate workers to return to the office 3 days a week

    Starbucks CEO Howard Schultz tells corporate workers to return to the office 3 days a week

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    Howard Schultz

    David Ryder | Reuters

    Starbucks corporate employees will be returning to the office at least three days a week by the end of the month.

    Starting Jan. 30, employees within commuting distance will be required to report to the coffee giant’s Seattle headquarters on Tuesdays, Wednesdays and a third day decided on by their teams. The memo didn’t specify what qualified as commuting distance.

    Workers closer to regional offices will also be required to come in three days a week, although the specific days aren’t mandated.

    The coffee giant’s corporate workforce has been working remotely since the start of the pandemic. In September, Starbucks asked those workers to work from the office one to two days a week. But CEO Howard Schultz wrote in a memo to employees on Wednesday that badging data showed employees weren’t adhering to that directive.

    The new policy is meant to “rebuild our connection to each other and synchronize teams and efforts,” said the memo from Schultz, who is departing the company this spring. He also compared corporate workers’ continued remote work to baristas, who have never had that option.

    Schultz stepped in as interim chief executive in April after former CEO Kevin Johnson retired. In his third stint at the company, he has announced a $450 million plan to reinvent Starbucks and fix what he called “self-induced mistakes.”

    Starbucks isn’t the only company that has recently mandated a stricter return-to-office policy. CEO Bob Iger, who has returned for his second leadership stint at Disney, told employees on Monday that they must return to the office.

    Elon Musk set even higher expectations for in-office attendance at Twitter after he acquired the social media company. And Apple mandated employees return to work three days a week back in September.

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  • Family-Owned and Operated Small Business LaTrelle’s Wins $334 Million Contract to Redesign Dining Options at Hobby Airport in Houston

    Family-Owned and Operated Small Business LaTrelle’s Wins $334 Million Contract to Redesign Dining Options at Hobby Airport in Houston

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    LaTrelle’s New Spaces Will Prioritize Local Restaurants and Brands Alongside Custom Art and More

    Press Release


    Jan 11, 2023 13:00 CST

    LaTrelle’s, the premier Houston-based firm specializing in owning and operating award-winning franchised and licensed restaurants in major airports across the country, has announced an exciting new $334 million contract with the City of Houston for William P. Hobby Airport, the first and only 5-Star airport in North America. LaTrelle’s will begin work on the renovation of the airport’s core dining destinations later this year.

    Occupying 17,000 square feet of restaurant space, the new additions will elevate beloved local Houston brands and ensure national favorites are also offered with LaTrelle’s signature blend of elite service, quality, and consistency. Feature brands LaTrelle’s is proud to operate through franchise or license agreements at Hobby Airport will include Common Bond, The Rustic, Velvet Taco, Dish Society, Pinks Pizza, and Fat Cat Creamery, as well as Peet’s Coffee, Jersey Mike’s, Wendy’s, and Dunkin’.

    Construction will take approximately two years to complete. Food and beverage service will be uninterrupted at the airport as renovations are carried out in phases, ensuring travelers have myriad dependable dining options every step of the way. 

    Founded by W.A. James Sr., LaTrelle’s debuted in Houston almost 40 years ago. As a bakery in the heart of Hobby Airport, LaTrelle’s of Houston became an instant go-to for travelers thanks to delicious baked goods relying on James family recipes, as well as treats from other hometown vendors. LaTrelle’s soon added the first airport Wendy’s and Subway in the country to its Hobby Airport portfolio. Currently operating more than 30 restaurants in international airports throughout the U.S., LaTrelle’s has earned a reputation for excellence and honesty among restaurant operators, the country’s busiest airports, and other industry leaders.

    “The first LaTrelle’s airport location was in Hobby Airport. There, in just 350 square feet, we sold our grandmother’s recipes,” said Chris James, Business Development Director of LaTrelle’s. “Our family all worked there. To grow from that to now overseeing and operating this 17,000-square-foot, multi-brand initiative is such a proud moment for LaTrelle’s. We are still a small, family-operated business–and historically, projects of this scope have gone to larger corporations. But we work hard, every single day, inspired by one another and our city.” 

    “We are bringing ourselves to this project, and we are Houston,” said Cameron James, Operations Director of LaTrelle’s. “Including national brands alongside a list of top local brands in our new plans for Hobby Airport was a natural choice for us, rooted in trust and relationships. We put together a proposal that aims to do right by our restaurant operators and the airport alike–everyone wins. When a local, family-owned and operated business like us is given the opportunity to spearhead a venture like this, it also sends an important message to other entrepreneurs: This is something that can happen in this city.”  

    Source: LaTrelle’s

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  • Metropolitan Culinary Arts Institute Offering Affordable Culinary Courses

    Metropolitan Culinary Arts Institute Offering Affordable Culinary Courses

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    Press Release


    Jan 11, 2023

    The DMV region has been plagued by a shortage of restaurant staff. Maria Kopsidas created a solution to this problem in the form of the Metropolitan Culinary Arts Institute (MCAI)’s culinary arts program. MCAI’s culinary program is approved by The State Council of Higher Education for Virginia (SCHEV), meeting its standards to advocate and promote the development and operation of an educationally and economically sound, vigorous, progressive and coordinated higher education system in the Commonwealth of Virginia.

    According to Kopsidas, it has always been Metropolitan Culinary Arts Institute (MCAI)’s mission to bring people together to teach them how to cook and join in fellowship and community over food. Kopsidas and her team began creating the curriculum for MCAI in 2018. The lack of affordable training opportunities strained the food industry, as fewer people chose to work in restaurants. Such was the case for their working chefs who struggled to pay their culinary school tuition loans from CIA and Johnson & Wales, effectively preventing them from living within their means. Through MCAI, Maria Kopsidas has created a local, affordable solution that will give aspiring chefs the training they need and connections to employers immediately.

    MCAI’s program is scheduled to start on Jan.16, 2023. Applicants can select between two different programs that best suit their schedules. MCAI offers a 14-week program that runs from Monday through Friday, from 8 a.m. to 4 p.m. for $15,500, and a 24-week program that runs from Monday through Thursday, from 6 p.m. to 10 p.m. and Saturdays for $18,800.

    MCAI’s courses have been designed using the National Restaurant Association textbook guide and are all recipe-based and hands-on, which includes:

    • Safe Operation and Hygiene
    • Garde Manger and Sauces
    • Cooking Methods
    • Meats and Poultry
    • Eggs, Dairy and Starches
    • Food Service Operations
    • Baking and Pastry
    • French Cuisine
    • Asian and Middle East
    • Americas
    • Sustainability, Nutrition and DIetary Restrictions
    • Open For Business

    All of MCAI’s classes will be held in the Ballston Quarter Mall, location 4238 Wilson Blvd., Suite 3110, Arlington, Virginia, 22203

    For more information, visit Metroculinaryarts.com or call (703) 433 – 1909

    About MCAI

    Since 2019, MCAI has been providing professional culinary training for the restaurant and food service industry. Visit their website here: https://metroculinaryarts.com/  

    To schedule an interview, contact Heather DeSantis, CEO of Publicity For Good – media@publicityforgood.com and 614.565.0996 –  cell 

    Source: Metropolitan Culinary Arts Institute

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  • TEXAS TITAN WILLIE’S GRILL & ICEHOUSE TO OPEN ANTICIPATED PFLUGERVILLE LOCATION JAN. 23

    TEXAS TITAN WILLIE’S GRILL & ICEHOUSE TO OPEN ANTICIPATED PFLUGERVILLE LOCATION JAN. 23

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    Willie’s Pflugerville is the 19th Willie’s in Texas, as well as the seventh location featuring a full bar

    Press Release


    Jan 10, 2023 13:00 CST

    Willie’s Grill & Icehouse will officially begin serving its signature Texas comfort food in Pflugerville, Texas, on Monday, Jan. 23, 2023. The anticipated Pflugerville outpost is the 19th in the state for the Texas-based, Texas-grown brand, as well as the seventh location to feature an expansive full bar. The addition underscores Willie’s reign as the region’s top family-friendly haven, where a renowned scratch Texas kitchen and casual icehouse vibes offer wholesome fun for parents and kids.

    Located at 19200 Colorado Sand Drive in Pflugerville, Willie’s Pflugerville is defined by the same mouthwatering menus, sprawling open-air patio spaces, and genuine friendliness that have endeared the brand to families for almost three decades. Retractable glass garage doors facilitate easy movement between outdoors and Willie’s colorfully decorated interior, rooted in vintage-inspired nods to the Texas icehouse tradition. Outside, games, 18 massive flat-screen TVs, and ample seating beckon, providing plenty of room for relaxing, watching a game, and reconnecting with family over classic dishes always made from scratch, served with inspired craft cocktails, local brews, and more.

    Willie’s steadfast commitment to the community remains an anchor at Willie’s Pflugerville as well. First up: substantial donations to Pflugerville Independent School District and the Pflugerville Police Department’s non-profit organization, L.E.A.P. Details will be announced soon. In addition to ongoing philanthropic efforts, Willie’s presence in Pflugerville has also created more than 100 local jobs. Willie’s actively promotes and hires from within, believing every position has the potential for long-term career growth.   

    The Willie’s Pflugerville menu features what’s made Willie’s famous, including burgers so stacked with Texas housemade fixings that they nearly topple over, plus chicken fried steaks that are crispy outside, hot and tender inside, and almost spilling off the plate. Beloved options include Willie’s Favorites: The Icehouse Willie, a half-pound beef burger smothered with cheese, bacon, and mushrooms; the Catfish & Shrimp Combo, featuring battered and fried catfish and shrimp, served with fries and cool coleslaw, plus cocktail and tartar sauces and lemon wedges on the side; and Chicken Tenders, hand-breaded and served with fries, with the option to spike the tenders’ flavor profile by tossing them in buffalo, BBQ, garlic parmesan, or honey garlic sauces. 

    “Pflugerville is the perfect next home for Willie’s. We pride ourselves on our dedication to the public and Pflugerville epitomizes what it means to support your community and neighbors,” said Greg Lippert, CEO of Willie’s Restaurants. “We are so excited to join the Pflugerville community and to bring our delicious menu and bar items to the region.” 

    Source: Willie’s Grill and Icehouse

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  • 18 stock picks in a ‘Goldilocks’ scenario for U.S. consumers

    18 stock picks in a ‘Goldilocks’ scenario for U.S. consumers

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    It may not have been a surprise to see the consumer discretionary sector of the S&P 500 get hammered last year amid talk of a looming recession while the Federal Reserve jacked up interest rates to push back against inflation.

    But the stock market always looks ahead. Following a decline of 19.4% for the S&P 500
    SPX,
    +0.42%

    in 2022 and a 37.6% drop for the benchmark index’s consumer discretionary sector, this may be the time to begin looking for bargains.

    And now, analysts at Jefferies have lifted the sector to a “bullish” rating.

    In a note to clients on Jan. 10, Jefferies’ global equity strategist, Sean Darby, wrote: “A Goldilocks scenario might be unfolding for the U.S. consumer — falling inflation but steady employment conditions.”

    He sees consumer confidence improving, in part because “households are still sitting on [about] $1.4 trillion of Covid savings.”

    Darby pointed to a list of 18 consumer discretionary stocks favored by Jefferies analysts that was published on Jan. 6. Those are listed below, along with three stocks in the sector the analysts rate “underperform.”

    The ratings of the Jefferies analysts for individual stocks is based on their 12-month outlooks for the companies, in keeping with Wall Street tradition.

    So we have added another list further down, showing which companies in the S&P 500 consumer discretionary sector are expected by analysts polled by FactSet to increase sales the most through 2024.

    The Jefferies 18

    Here are the 18 consumer discretionary stocks recommended by Jefferies analysts with “buy” ratings on Jan. 6, sorted by how much upside the firm sees for the shares from closing prices on Jan. 9:

    Company

    Ticker

    Jan. 9 price

    Jefferies price target

    Implied 12-month upside potential

    Three-year estimated sales CAGR through 2022

    Two-year estimated sales CAGR through 2024

    Topgolf Callaway Brands Corp.

    MODG,
    -0.22%
    $20.76

    $56

    170%

    32.8%

    10.0%

    Bloomin’ Brands Inc.

    BLMN,
    +3.87%
    $22.08

    $35

    59%

    2.4%

    3.7%

    Coty Inc. Class A

    COTY,
    +1.23%
    $9.38

    $14

    49%

    -7.1%

    3.7%

    MGM Resorts International

    MGM,
    +1.71%
    $37.64

    $56

    49%

    -0.1%

    6.6%

    Chewy Inc. Class A

    CHWY,
    +1.63%
    $40.13

    $57

    42%

    28.0%

    10.6%

    Planet Fitness Inc. Class A

    PLNT,
    +0.69%
    $82.36

    $115

    40%

    10.4%

    13.9%

    Molson Coors Beverage Co. Class B

    TAP,
    +0.67%
    $50.21

    $69

    37%

    0.5%

    1.4%

    Fox Factory Holding Corp.

    FOXF,
    +3.95%
    $99.90

    $135

    35%

    28.1%

    6.6%

    Hasbro Inc.

    HAS,
    +0.99%
    $63.70

    $85

    33%

    9.1%

    3.6%

    Hostess Brands Inc. Class A

    TWNK,
    +0.33%
    $23.10

    $30

    30%

    14.2%

    5.0%

    Lowe’s Cos. Inc.

    LOW,
    +0.08%
    $199.44

    $250

    25%

    10.6%

    -1.9%

    Walmart Inc.

    WMT,
    -0.27%
    $144.95

    $175

    21%

    4.9%

    3.3%

    Dollar General Corp.

    DG,
    -0.26%
    $241.05

    $285

    18%

    10.9%

    6.7%

    Church & Dwight Co. Inc.

    CHD,
    -1.17%
    $82.25

    $97

    18%

    7.0%

    4.6%

    McDonald’s Corp.

    MCD,
    +0.39%
    $267.25

    $315

    18%

    2.4%

    4.0%

    Estee Lauder Cos. Inc. Class A

    EL,
    +0.39%
    $261.63

    $304

    16%

    2.8%

    5.8%

    Mondelez International Inc. Class A

    MDLZ,
    -0.04%
    $67.24

    $75

    12%

    6.3%

    4.1%

    Tapestry Inc.

    TPR,
    +0.73%
    $41.25

    $45

    9%

    3.3%

    3.2%

    Sources: Jefferies, FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    The two right-most columns on the table show estimated compound annual growth rates (CAGR) for the companies over the past three calendar years and expected sales CAGR for two years through calendar 2024, based on the companies’ financial reports and consensus estimates among analysts polled by FactSet.

    (We used calendar-year numbers, some of which are estimated by FactSet for prior years, because some companies have fiscal years or even months that don’t match the calendar.)

    The stock pick with the highest 12-month upside potential, based on Jefferies’ price target, is Topgolf Callaway Brands Corp.
    MODG,
    -0.22%
    .
    This company has the highest estimated three-year sales CAGR on the list, and has the third-highest projected sales CAGR through 2024, after Planet Fitness Inc.
    PLNT,
    +0.69%

    and Chewy Inc.
    CHWY,
    +1.63%
    .

    On Jan. 6, the Jefferies analysts also listed three stocks in the sector they rated “underperform.” Here they are, sorted by how much the analysts expect the stocks to decline over the next 12 months:

    Company

    Ticker

    Jan. 9 price

    Jefferies price target

    Implied 12-month upside potential

    Three-year estimated sales CAGR through 2022

    Two-year estimated sales CAGR through 2024

    Lululemon Athletica Inc.

    LULU,
    +2.98%
    $298.66

    $200

    -33%

    26.3%

    14.6%

    Williams-Sonoma Inc.

    WSM,
    +1.75%
    $122.17

    $98

    -20%

    14.1%

    -0.3%

    Harley-Davidson Inc.

    HOG,
    +0.35%
    $43.25

    $39

    -10%

    -2.8%

    4.4%

    Sources: Jefferies, FactSet

    Screen of consumer discretionary sales growth

    A look head at which companies are expected to increase sales the most over the next two years might serve as a good starting point for your own research.

    Bear in mind that some of the companies in travel-related industries suffered declining sales for three years through 2022 because of the coronavirus pandemic. Some of those are on this new list of 20 stocks in the S&P 500 consumer discretionary sector expected to show the highest two-year sales CAGR through calendar 2024:

    Company

    Ticker

    Two-year estimated sales CAGR through 2024

    Three-year estimated sales CAGR through 2022

    Share “buy” ratings

    Jan. 9 price

    Consensus price target

    Implied 12-month upside potential

    Las Vegas Sands Corp.

    LVS,
    +1.59%
    59.2%

    -32.6%

    79%

    $52.78

    $53.53

    1%

    Norwegian Cruise Line Holdings Ltd.

    NCLH,
    +1.67%
    39.6%

    -9.3%

    44%

    $13.78

    $16.96

    23%

    Carnival Corp.

    CCL,
    +1.64%
    35.2%

    -14.7%

    30%

    $9.47

    $10.11

    7%

    Tesla Inc.

    TSLA,
    -1.83%
    34.3%

    49.7%

    64%

    $119.77

    $232.43

    94%

    Wynn Resorts Ltd.

    WYNN,
    +2.01%
    29.3%

    -17.5%

    53%

    $94.33

    $96.07

    2%

    Royal Caribbean Group

    RCL,
    +2.22%
    28.4%

    -6.8%

    53%

    $57.29

    $66.43

    16%

    Chipotle Mexican Grill Inc.

    CMG,
    -0.17%
    13.4%

    15.9%

    71%

    $1,446.74

    $1,778.81

    23%

    Amazon.com Inc.

    AMZN,
    +2.61%
    12.2%

    22.1%

    92%

    $87.36

    $133.76

    53%

    Booking Holdings Inc.

    BKNG,
    +0.37%
    11.9%

    3.9%

    63%

    $2,208.41

    $2,307.67

    4%

    Aptiv PLC

    APTV,
    +1.66%
    11.9%

    6.4%

    70%

    $97.98

    $117.23

    20%

    Starbucks Corp.

    SBUX,
    +1.28%
    11.2%

    7.2%

    42%

    $104.74

    $103.44

    -1%

    Etsy Inc.

    ETSY,
    +3.56%
    11.1%

    45.3%

    50%

    $120.99

    $124.04

    3%

    Hilton Worldwide Holdings Inc.

    HLT,
    +0.06%
    10.1%

    -2.9%

    38%

    $129.08

    $146.17

    13%

    Expedia Group Inc.

    EXPE,
    +0.39%
    9.0%

    -0.9%

    50%

    $93.77

    $125.65

    34%

    NIKE Inc. Class B

    NKE,
    +0.68%
    8.1%

    5.8%

    62%

    $124.85

    $126.15

    1%

    Marriott International Inc. Class A

    MAR,
    +0.47%
    7.5%

    -1.2%

    30%

    $152.53

    $172.81

    13%

    BorgWarner Inc.

    BWA,
    +1.82%
    7.1%

    15.3%

    53%

    $42.24

    $46.93

    11%

    Tractor Supply Co.

    TSCO,
    +1.06%
    6.8%

    19.0%

    61%

    $217.48

    $232.34

    7%

    Yum! Brands Inc.

    YUM,
    -0.76%
    6.7%

    6.4%

    47%

    $129.76

    $137.79

    6%

    Dollar General Corp.

    DG,
    -0.26%
    6.7%

    10.9%

    67%

    $241.05

    $267.54

    11%

    Source: FactSet

    Among the companies on this list that didn’t suffer sales declines from 2019 levels, Tesla Inc.
    TSLA,
    -1.83%

    is expected to achieve the highest two-year sales CAGR through 2022.

    Dollar General Corp.
    DG,
    -0.26%

    is the only company to appear on this list based on consensus sales growth estimates and the Jefferies recommended list.

    Don’t miss: These 15 Dividend Aristocrat stocks have been the best income builders

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  • Ryan Peters of Peters Pasta on Making Content Creation into a Business

    Ryan Peters of Peters Pasta on Making Content Creation into a Business

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    Takeaways:

    Finding the Right Growth Pace – Ryan Peters racked up millions of views on TikTok very quickly. However, he was slower to evolve his @peterspasta channel than some would suggest because of the idea of using sustainable pacing and branding instead of chasing viral moments.

    Making Content Creation a Business – Ryan Peters had 300,000 TikTok Followers and a full-time job. While at home helping take care of his newborn, and now 1 million followers, he continued creating popular social media content. That’s when he had an idea. He could have time with his family and generate income simultaneously by becoming a full time content creator.

    It’s Important to Understand the Creator Platforms – The creator economy has bridged the gap between brands and community. However, for Ryan Peters, it is incredibly important that the brands that reach out to him understand his platform and creativity.

    ***

    It’s not easy to go viral on social media. It’s definitely hard to do so within your first few posts. But for Chef Ryan Peters, the founder of Peters Pasta, which provides pasta service and social media consulting, that was indeed the case.

    Now, with upwards of 3 million TikTok followers in tow, Ryan Peters has transitioned from chef into full time content creator.

    “By the end of October (2020), I went from 300,000 followers to a million.” Ryan Peters tells Restaurant Influencers podcast host Shawn P. Walchef of CaliBBQ Media. “My son was born in November of 2020. I decided to take a month off from the restaurant I was the chef at… I was still able to make content at home.”

    It was at that moment that the star of @PetersPasta came to an important realization. “I can be at home with my family, (and) still make a living.”

    That realization caused Ryan Peters to quit his day job and focus on building Peters Pasta. With no real blueprint, Peters relied on classic work ethic and making cold calls to drum up interest. That meant doing guerilla research, including scouring LinkedIn profiles to find companies to partner with.

    Despite his admirable outreach efforts, the return on that time investment was minimal.

    “A lot of times they were like, No. Or it didn’t go anywhere… But for every 1 out of 100 I did, there was usually a genuine conversation to be had, and usually it turned into something.” explains Peters.

    As he continued to build the brand online, Ryan Peters consistently released content. Though success — in terms of views and impressions on TikTok — came early and often, he did not succumb to the fleeting thrill of chasing viral moments.

    “I’m thankful for that stage of my brand because that built me up very, very fast. But since then I’ve kind of evolved it,” he said about his social media strategy. “There’s still so much that I can do with my account because I’ve kind of taken it slowly with the evolution of it.

    “Short term maybe that was a downfall because I wasn’t capitalizing in the beginning, but I think long term it now gives me the opportunity to keep growing”.

    Pace and strategic partnerships have been crucial to his brand’s rapid ascension. He has carved out a unique space within the creator economy that has allowed him to work with partners that include teams from every major sports league in the United States.

    At this rate Peters Pasta is on track to be a household name. Ryan Peters is setting the digital pace for Restaurant Influencers to follow.

    ***

    ABOUT RESTAURANT INFLUENCERS:

    Restaurant Influencers is brought to you by Toast, the powerful restaurant point of sale and management system that helps restaurants improve operations, increase sales and create a better guest experience.

    Toast — Powering Successful Restaurants. Learn more about Toast.

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    Shawn P. Walchef

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  • JFOODO Presents the Unexplored Bliss of Japanese Yellowtail Buri

    JFOODO Presents the Unexplored Bliss of Japanese Yellowtail Buri

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    Press Release


    Jan 9, 2023

    Buri may very well be the National fish of Japan, which has been loved by Japanese people since ancient times. This versatile juicy and full-of-umami fish is often served as crudo, sushi, or sashimi, but Buri is getting its due when 10 top chefs (seven in New York City and three in Los Angeles) each serve a specially crafted Buri dish during JFOODO’s month-long Buri promotion from Jan. 10 – Feb. 6. This special promotion is designed to cast a wide net on the fish, which is also known as Japanese Hamachi, Yellowtail, or Amberjack.

    Both wild and farmed Buri are extremely popular in Japan. Farmed Buri is delicious all year round, but wild Buri is seasonable in the colder months. Japanese Buri is rich in nutritional value and contains abundant quantities of Omega-3 fatty acids, including DHA and EPA, which are important for brain and heart health. The chefs were asked to come up with a dish using Buri that reflected their cuisine to show that the fish can be adapted to cuisines other than Japanese. In the hands of these masters, Buri takes on personalities from France, America, South Korea, Southeast Asia, and Japan. It is showcased poached, grilled, steamed, sauteed, and raw, but every way the result is pure perfection. Diners will get to experience the bliss of Buri at the following participating restaurants. To view photos and videos, go to JFOODO Buri website.

    -New York City-

    Jua, Chef Hoyoung Kim

    BANG-EO Slow-cooked Buri with smoked bone sauce

    Contra, Chefs Jeremiah Stone and Fabian Von Hauske

    Olive Oil Poached Buri with Radish Broth and Charred Scallions

    The Musket Room, Chef Mary Attea

    Japanese Buri Crudo with Winter Citrus, Pistachios, and Pomegranate

    Scarpetta New York, Chef Jorge Espinoza

    Buri Confit

    Oceans, Chef Andy Kitko

    Grilled Japanese Buri, Matsutake Mushrooms, Black Truffle, Peking Duck Broth

    Veranda, Chef George Mendes

    Buri Confit

    Essex Pearl, Chef Daniel Le

    Coconut-Fish Sauce Braised Buri

    -Los Angles-

    Citrin, Chef Josiah Citrin

    Japanese Buri Collar Roasted and Glazed, Carrot Escabeche, Yuzu Emulsion, Puffed Grains

    Shibumi, Chef David Schlosser

    Grilled wild Japanese Buri – Buri, dried persimmon “hoshigaki”, ginger

    Kinn, Chef Ki Kim

    Charcoal grilled Buri with oyster cream and turnip

    For more information, go to the JFOODO Buri website

    Instagram @burijapan

    Press photos

    JFOODO was established by the Japanese government in 2017 with the aim of boosting the export of Japanese agricultural, forestry, fishery, and food products by branding them and promoting them widely around the world. 

    Source: JFOODO (The Japan Food Product Overseas Promotion Center)

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  • SEC charges ex–McDonald’s CEO Easterbrook for making false statements relating to his 2019 ouster

    SEC charges ex–McDonald’s CEO Easterbrook for making false statements relating to his 2019 ouster

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    The Securities and Exchange Commission said Monday it has filed charges against Stephen J. Easterbrook, former chief executive of McDonald’s Corp., for making “false and misleading” statements to investors about the circumstances that led to his ouster in November 2019.

    The agency has also filed charges against McDonald’s for “shortcomings” in its public disclosures relating to Easterbrook’s severance agreement.

    McDonald’s
    MCD,
    -0.55%

    fired Easterbrook for exercising poor judgment and violating company policy by engaging in an inappropriate personal relationship with a McDonald’s employee. However, the separation agreement struck with the executive concluded that his termination was without cause, allowing him to retain substantial equity compensation that would have been forfeited in other circumstances.

    “In making this conclusion, McDonald’s exercised discretion that was not disclosed to investors,” the SEC said in a statement.

    In July 2020, McDonald’s discovered in an internal probe that Easterbrook had engaged in other, undisclosed relationships with employees. Those findings were not disclosed prior to Easterbrook’s termination, in the knowledge that they would influence the board’s decision making, according to the SEC.

    “When corporate officers corrupt internal processes to manage their personal reputations or line their own pockets, they breach their fundamental duties to shareholders, who are entitled to transparency and fair dealing from executives,” said Gurbir S. Grewal, the SEC’s director of the division of enforcement. 

    The SEC is charging Easterbrook with violating anti-fraud provisions of the SEC Securities Act of 1933 and the Securities Exchange Act of 1934. Easterbrook has consented to a cease-and-desist order and five-year officer and director bar and a $400,000 civil penalty, without admitting to or denying the charges.

    McDonald’s is charged with violating section 14(a) of the Exchange Act and Exchange Act Rule 14a-3. The fast-food giant has consented to a cease-and-desist order, without admitting to or denying SEC findings. The SEC has opted not to fine the company, as it cooperated with the agency and clawed back compensation after its probe.

    The stock was slightly lower Monday in early trades.

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  • McDonald’s plans reorganization, job cuts as it accelerates restaurant openings

    McDonald’s plans reorganization, job cuts as it accelerates restaurant openings

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    Noam Galai | Getty Images Entertainment | Getty Images

    McDonald’s is planning job cuts and a reorganization as the company refocuses its priorities to accelerate restaurant expansion, CEO Chris Kempczinski told employees Friday.

    The fast-food giant said the job cuts aren’t a cost-cutting measure but are instead intended to help the company innovate faster and work more efficiently. As part of the reorganization, the company will be deprioritizing and halting certain initiatives, according to a company-wide memo from Kempczinski. It’s unclear what those projects are.

    related investing news

    CNBC Investing Club

    “Today, we’re divided into silos with a center, segments, and markets,” Kempczinski wrote. “This approach is outdated and self-limiting – we are trying to solve the same problems multiple times, aren’t always sharing ideas and can be slow to innovate.”

    Currently, McDonald’s organization is divided into three segments: the U.S., international operated markets and international developmental licensed markets. The company operates in 169 markets across the world.

    Additionally, McDonald’s said Friday it will speed up its development plans for new restaurants.

    “We must accelerate the pace of our restaurant openings to fully capture the increased demand we’ve driven over the past few years,” Kempczinski said in the memo.

    McDonald’s hadn’t previously released a forecast for how many new restaurants it plans to build in 2023, but the company said in November that new units would contribute about 1.5% to system-wide sales growth in 2022.

    The company has not decided how many new restaurants it will build yet nor how many jobs will be eliminated as part of the reorganization. Kempczinski said that the company will finalize and begin to communicate decisions on the layoffs by April 3.

    Kempczinski also announced a handful of internal promotions, effective Feb. 1, to help the company carry out its new strategy. Global Chief Marketing Officer Morgan Flatley will also oversee new business ventures. Skye Anderson will move from McDonald’s U.S. west zone to global business services. Andrew Gregory’s role as global franchising officer will also include leading global development, and Spero Droulias will transition from CFO of McDonald’s USA to the company’s chief transformation officer.

    Shares of McDonald’s were up more than 2% in late trading Friday. The company is expected to report its fourth-quarter earnings on Jan. 31.

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  • The Official Dos and Don’ts of Restaurant Dress Codes

    The Official Dos and Don’ts of Restaurant Dress Codes

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    What to Avoid: The term “business” is an important addition to this category. While the sleek jeans you styled for a casual dinner can be considered acceptable in certain business settings, focus on chic pants to err on the side of caution.

    What to Wear: Business casual, though it may seem obscure for a restaurant, is easy to understand, as it’s what one would typically wear to work. While that concept can become a little hazy for the fashion person who wears trendier outfits to the office, the idea is to maintain a professional, appropriate, and elegant appearance. Imagine the outfit you would wear when taking a client out to lunch. Personally, this brings to mind tailored pants, an oversize blazer, and a button-down with a pair of simple oxford loafers. Sophisticated and stylish but not overly stuffy.

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  • Chef Joe Isidori of Arthur & Sons NY Italian on Finding Your Authentic Voice

    Chef Joe Isidori of Arthur & Sons NY Italian on Finding Your Authentic Voice

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    Takeaways:

    Authenticity Makes the Most SenseJoe Isidori is unapologetically “New York Italian”. However, it wasn’t always that way. While building his brand, he found his voice after “shedding the armor” of what he thought he should be, and did what made the most sense: be himself.

    Gaining Balance by Leveraging Social Media – Joe Isidori’s father Arthur was a huge influence on him as a man and restaurateur. One of the lessons he learned from his father is, despite how hard it is to run a restaurant business, you need to take care of yourself and your family. Luckily, the digital age of social media has allowed Joe’s presence to grow without him spending every waking moment in his various restaurants.

    Being Yourself Makes you Bulletproof – Finding his voice has helped Joe Isidori build an impeccable empire and a worldwide restaurant portfolio. When asked how he did it, his advice to up-and-coming restaurant owners can be applied universally: Cut the BS and get over yourself.

    ***

    Chef Joe Isidori learned a secret to life that has resonated with him ever since: “Knock it off and cut the BS out.”

    Thanks to leaning into his authenticity online, the Michelin starred restaurateur and founder of Arthur & Sons in NYC has built a global brand and expanding food empire.

    For Joe Isidori, the key to it all has been authenticity.

    “And at the end of the day, it’s all going to be about one thing. It’s going to be about authenticity. It’s New York Italian,” Isidori passionately explains about his food to podcast host Shawn P. Walchef of CaliBBQ Media. “Which means it’s got that attitude, it’s got that flavor, it’s got that authenticity.”

    After the death of his father Arthur (or Artie), who was his inspiration for being a chef and business owner, Isidori searched internally for happiness. That search materialized to a tribute restaurant entitled Black Tap that harkened back to his childhood days of grabbing a cheeseburger and milkshake on Tuesdays with his father.

    While the popularity of Black Tap grew quickly, it skyrocketed when he introduced Crazy Shakes after following his wife’s wishes.

    Despite worldwide acclaim online for his decadent, over the top shakes, Isidori found himself struggling again to find his voice.

    “The day I started Black Tap as a memory I had with my father. And unfortunately, that memory had faded away and Black Tap had become something else. It was eclipsed by the milkshake. It was eclipsed by worldwide fame.” he says of the experience. “I decided that I was going to just shed the armor, throw it all away. And I was just going to be myself, and that’s what I did. And that was the game plan.”

    That game plan has taken Joe Isidori’s empire to even new heights. His NY Italian restaurant Arthur & Sons has amassed an Instagram following that has many followers based purely on Isidori being himself and putting his authentic experience on full display.

    Fortunately, the social media influence of today’s marketplace has also freed him up to be more present in his family’s lives and provided a level of balance he hadn’t previously experienced.

    “My father gave his shirt off his back. He worked his ass off. He made people happy. He did nothing but bring joy into people’s lives and a lot of restaurants. The end of the day, when I buried him, he had $265 in his pocket, two packs of Marlboros and those lottery tickets.” says Joe Isidori.

    “What social media has done and what I do as a chef and everything; I don’t live and die in my restaurants anymore, but I make sure I run my business accordingly and I make sure everyone’s happy and I make sure they keep coming back. Social media allows me to do that because they still feel me through social media, even if I’m not in a dining room with them.”

    The aspirations to be better came from Isidori’s father. He was a man of the people and the people loved him for it. As for Joe Isidori, the kid who started cooking while listening to Wu-Tang Clan, he has since realized what his dad meant by “chicken parm pays the bills.”

    Cut the BS. Be yourself.

    ***

    ABOUT RESTAURANT INFLUENCERS:

    Restaurant Influencers is brought to you by Toast, the powerful restaurant point of sale and management system that helps restaurants improve operations, increase sales and create a better guest experience.

    Toast — Powering Successful Restaurants. Learn more about Toast.

    Restaurant Influencers is also supported by AtmosphereTV – TV to Enhance Your Business. Try AtmosphereTV.

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  • These 20 stocks were the biggest losers of 2022

    These 20 stocks were the biggest losers of 2022

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    This has been the year of reckoning for Big Tech stocks — even those of companies that have continued to grow sales by double digits.

    Below is a list of the 20 stocks in the S&P 500
    SPX,
    -0.72%

    that have declined the most in 2022.

    First, here’s how the 11 sectors of the benchmark index have performed this year:

    S&P 500 sector

    2022 price change

    Forward P/E

    Forward P/E as of Dec. 31, 2021

    Energy

    57.8%

    9.6

    11.1

    Utilities

    -0.5%

    18.8

    20.4

    Consumer Staples

    -2.7%

    20.9

    21.8

    Healthcare

    -3.2%

    17.4

    17.2

    Industrials

    -6.7%

    18.0

    20.8

    Financials

    -12.1%

    11.7

    14.6

    Materials

    -13.4%

    15.6

    16.6

    Real Estate

    -27.7%

    16.2

    24.2

    Information Technology

    -28.8%

    19.6

    28.1

    Consumer Discretionary

    -37.4%

    20.7

    33.2

    Communication Services

    -40.4%

    14.0

    20.8

    S&P 500

    -19.2%

    16.5

    21.4

    Source: FactSet

    The energy sector has been the only one to show a gain in 2022, and it has been a whopper, even as West Texas Intermediate crude oil
    CL.1,
    +0.41%

    has given up most of its gains from earlier in the year. Here’s why investors are still confident in the supply/demand setup for oil and energy stocks.

    Looking at the worst-performing sectors, you might wonder why the consumer discretionary and communication services sectors have fared worse than information-technology, the core tech sector. One reason is that S&P Dow Jones Indices can surprise investors with its sector choices. The consumer discretionary sector includes Tesla Inc.
    TSLA,
    +0.70%

    and Amazon.com Inc.
    AMZN,
    -1.17%
    ,
    which has fallen nearly 50% this year. The communications sector includes Meta Platforms Inc.
    META,
    -1.21%
    ,
    along with Match Group Inc.
    MTCH,
    +0.50%
    ,
    which is down 69% for 2022, and Netflix Inc.
    NFLX,
    -0.44%
    ,
    which is down 52% this year.

    There have been many reasons easy to cite for Big Tech’s decline, such as a questionable change in strategy for Facebook’s holding company, Meta, as CEO Mark Zuckerberg has put so much of the company’s resources into developing a new world that most people don’t wish to enter, at least yet. Meta’s shares were down 64% for 2022 through Dec. 29.

    You might also blame the Twitter-related antics and sales of Tesla shares by CEO Elon Musk for the 65% decline in the electric-vehicle maker’s stock this year. But Tesla had a forward price-to-earnings ratio of 120.3 at the end of 2021, while the S&P 500
    SPX,
    -0.72%

    traded for 21.4 times its weighted forward earnings estimate, according to FactSet. Those P/E ratios have now declined to 21.7 and 16.4, respectively. So Tesla no longer appears to be a very expensive stock, especially for a company that increased its vehicle deliveries by 42% in the third quarter from a year earlier.

    Analysts polled by FactSet expect Tesla’s stock to double during 2023. It nearly made this list of 20 EV stocks expected to rebound the most in 2023.

    The worst-performing S&P 500 stocks of 2022

    Here are the 20 stocks in the S&P 500 that fell the most for 2022 through the close on Dec. 29.

    Company

    Ticker

    2022 price change

    Forward P/E

    Forward P/E as of Dec. 32, 2021

    Generac Holdings Inc.

    GNRC,
    -0.84%
    -71.4%

    13.7

    30.2

    Match Group Inc.

    MTCH,
    +0.50%
    -68.9%

    20.1

    48.5

    Align Technology Inc.

    ALGN,
    -0.52%
    -67.7%

    27.4

    48.7

    Tesla Inc.

    TSLA,
    +0.70%
    -65.4%

    21.7

    120.3

    SVB Financial Group

    SIVB,
    -0.38%
    -65.4%

    10.8

    23.0

    Catalent Inc.

    CTLT,
    -0.40%
    -64.6%

    13.0

    32.5

    Meta Platforms Inc. Class A

    META,
    -1.21%
    -64.2%

    14.7

    23.5

    Signature Bank

    SBNY,
    -0.34%
    -64.1%

    6.2

    18.6

    PayPal Holdings Inc.

    PYPL,
    -0.01%
    -62.6%

    14.8

    36.0

    V.F. Corp.

    VFC,
    +0.15%
    -62.5%

    11.9

    20.4

    Warner Bros. Discovery Inc. Series A

    WBD,
    -1.64%
    -59.9%

    N/A

    7.5

    Carnival Corp.

    CCL,
    -0.23%
    -59.8%

    38.1

    N/A

    Stanley Black & Decker Inc.

    SWK,
    -0.42%
    -59.8%

    17.0

    15.9

    Lumen Technologies Inc.

    LUMN,
    -1.79%
    -57.8%

    7.7

    7.8

    Zebra Technologies Corp. Class A

    ZBRA,
    -0.44%
    -56.7%

    14.5

    30.1

    Dish Network Corp. Class A

    DISH,
    -0.96%
    -56.5%

    8.6

    10.9

    Caesars Entertainment Inc.

    CZR,
    +0.24%
    -55.7%

    51.4

    144.5

    Lincoln National Corp.

    LNC,
    +0.26%
    -55.1%

    3.4

    6.2

    Advanced Micro Devices Inc.

    AMD,
    -0.97%
    -55.0%

    17.8

    43.1

    Seagate Technology Holdings PLC

    STX,
    -0.55%
    -53.1%

    15.0

    12.4

    Source: FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Another way of measuring the biggest stock-market losers of 2022

    It is one thing to have a large decline based on the share price, but that doesn’t tell the entire story. How much of a decline have investors seen in the holdings of their shares during the year? The S&P 500’s total market capitalization declined to $31.66 trillion as of Dec. 28 (the most recent figure available) from $40.36 trillion at the end of 2021, according to FactSet.

    Shareholders of these companies have suffered the largest declines in market cap during 2022.

    Company

    Ticker

    2022 market capitalization change ($bil)

    2022 price change

    Apple Inc.

    AAPL,
    -0.63%
    -$851

    -27.0%

    Amazon.com Inc.

    AMZN,
    -1.17%
    -$832

    -49.5%

    Microsoft Corp.

    MSFT,
    -1.15%
    -$728

    -28.3%

    Tesla Inc.

    TSLA,
    +0.70%
    -$677

    -65.4%

    Meta Platforms Inc. Class A

    META,
    -1.21%
    -$465

    -64.2%

    Nvidia Corp.

    NVDA,
    -1.37%
    -$376

    -50.3%

    PayPal Holdings Inc.

    PYPL,
    -0.01%
    -$141

    -62.6%

    Netflix Inc.

    NFLX,
    -0.44%
    -$138

    -51.7%

    Walt Disney Co.

    DIS,
    -1.62%
    -$123

    -43.7%

    Salesforce Inc.

    CRM,
    -0.96%
    -$118

    -47.8%

    Source: FactSet

    So there is your surprise for today: Apple is this year’s biggest stock-market loser.

    Don’t miss: Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices

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  • Kabbage from American Express CMO Brett Sussman on Supporting Small Businesses with TikTok

    Kabbage from American Express CMO Brett Sussman on Supporting Small Businesses with TikTok

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    Key Takeaways:

    Reaching Small Businesses with TikTok – Brett Sussman’s team at Kabbage from American Express is dedicated to highlighting and amplifying Small Business Owners. The most recent way of doing so is by forging a unique partnership with TikTok that offers eligible small businesses incentives for advertising on the app.

    Social Media as a Commerce Tool – More than half of Small Business Owners who are not currently on TikTok agree that they would be able to attract more new customers if their business had a presence on the app. Brett Sussman and his team are willing and able to provide data that solidifies the various benefits for Small Business Owners using the app.

    Elevator (Campaign) Pitches – An effective campaign is a difficult task to accomplish. In today’s multichannel environment, Brett Sussman and Kabbage believe finding the correct need for their partners is indispensable, but it has to be easily understood and explained.

    ***

    Brett Sussman of Kabbage from American Express has embraced the new economy and is determined to help small business owners adapt to how people learn and buy.

    Kabbage from American Express teamed up with TikTok in the holiday season to offer eligible small businesses a $100 ad credit to use on the app after they spend $50 on their first TikTok Ad campaign.

    Data pulled from the American Express Small Business Holiday Report shows that 7 out of 10 business owners say that their customers rely on their social media channels for news. And almost 90 percent say it has helped them acquire customers this past year.

    Social media is playing an increasingly important role in businesses, specifically small businesses.

    “We’re actually seeing, which is really exciting, that the whole experience of commerce is being accelerated on these platforms.” says Sales and Marketing Executive Brett Sussman to Restaurant Influencers podcast host Shawn P. Walchef of CaliBBQ Media.

    “You’re going to do your search, ask recommendations, and buy maybe in one or two sessions versus over three weeks, going to different websites. And so that acceleration is really important for small business owners to be in that conversation.”

    Enter the Kabbage Shop Small Accelerator campaign powered by TikTok. The goal with the Accelerator initiative is to provide tips to small business owners to help the optimal usage out of the app. American Express also created the Small Business Saturday marketing initiative.

    “So this collaboration with TikTok really is that we work closely with the set of creators to say, what are some of those tips and tricks if you want to get your small business owner on TikTok.” explains Brett Sussman.

    “There” being present on TikTok, which, despite its immense growth is still considered a non-traditional marketing strategy.

    The novelty of TikTok and its perception as a tool for the younger generation has made marketing traditionalists hesitant and some small business owners reluctant to incorporate it into their business model.

    Regardless of trepidation, over half of small business owners who are not currently on TikTok agree that they would be able to attract more new customers if their business had a presence on the app, according to the AMEX report.

    “Right now, if you go to shop Small Accelerator, there are a series of tools from American Express on how to improve your community, your social media presence from some great creators who have done it well, small business owners and non-small business owners.”

    Along with its TikTok partnership, AMEX is also kicking off a new initiative this year, a Kabbage Funding offer, which includes a $250 incentive. This gives small businesses cash flow support to invest in their social and marketing.

    The future of shopping is online.

    “When you look at demographics, we see that both Gen Z and Millennials are spending an outsized amount of time on TikTok and really looking to make purchase decisions on TikTok. And so it’s really for you to be there in a meaningful way.

    ***

    NOMINATE A RESTAURANT INFLUENCER — Do you know someone who is killing it on social media? Let us know by emailing influencers@calibbq.media or sending the @calibbqmedia team a DM on social media.

    ABOUT RESTAURANT INFLUENCERS:

    Restaurant Influencers is brought to you by Toast, the powerful restaurant point of sale and management system that helps restaurants improve operations, increase sales and create a better guest experience.

    Toast — Powering Successful Restaurants. Learn more about Toast.

    Restaurant Influencers is also supported by DAVO. Never worry about sales tax again. Try DAVO and get your first month free. And AtmosphereTV – TV to Enhance Your Business. Try AtmosphereTV.

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  • Eat, drink and be merry: Here’s where shoppers have been spending the most money this holiday season

    Eat, drink and be merry: Here’s where shoppers have been spending the most money this holiday season

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    Restaurants are set to become the biggest winners of a holiday season that could turn out to be the most normalized since the onset of the pandemic.

    That’s according to a new Mastercard SpendingPulse survey released on Monday, which showed spending at dining establishments surging 15.1% over the 2021 holiday period. Total retail expenditures for the Nov. 1–to–Dec. 24 period in 2022 rose 7.6%, with in-store spending up 6.8% and online spending up 10.6%.

    Restaurant spending beat out several other categories, such as apparel, where spending was up 4.4% from 2021, and electronics and jewelry, where a respective 5.3% and 5.4% less were spent, and department stores, which saw spending rise 1%.

    “This holiday retail season looked different than years past,” said Steve Sadove, senior adviser for Mastercard and former CEO and chairman of Saks Inc. “Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings postpandemic.”

    Government data for November showed consumer spending was up just 0.1%, reflecting cautiousness among households and price cutting by retailers to lure those hesitant shoppers in. But the data also showed more spending on holiday recreation and travel, expected to go in the books as a busy season even if deadly winter storm may have wreaked havoc on the plans of many Americans over the Christmas weekend.

    Of course, even as some merrymakers felt confident enough to make more plans and see more friends and family this year, the virus of course continues to cause illness and death. The U.S. reported 70,000 newly diagnosed cases for the first time since September on Thursday, while 422 people died of COVID-19 on Wednesday.

    Don’t miss: As COVID cases rise, how to steer clear of viruses during the holiday season

    Also see: 4 tips for staying healthy while traveling during this ‘tripledemic’ cold and flu season

    The Mastercard SpendingPulse data measure in-store and online retail sales for all payment forms and are not inflation-adjusted.

    As for the companies that might be benefiting from that increased traffic, the year-end cheer probably won’t be enough to make a dent in what has been a difficult year with would-be consumers juggling worries over inflation, rising interest rates and a war in Europe.

    The Invesco Dynamic Leisure & Entertainment exchange-traded fund
    PEJ,
    +0.79%
    ,
    whose holdings include Chipotle Mexican Grill
    CMG,
    +0.32%
    ,
    McDonald’s
    MCD,
    +0.68%

    and First Watch Restaurant Group
    FWRG,
    +0.42%
    ,
    has gained 6.5% to date in the fourth quarter and is down 20% for the year as of Thursday. The broad benchmark S&P 500
    SPX,
    +0.59%

    is poised for a nearly 20% loss in 2022.

    Read: How a Santa Claus rally, or lack thereof, sets the stage for the stock market in first quarter

    And: Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices

     

     

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  • Cheap? Maybe. But These Stocks Have Been Dead Money for Decades

    Cheap? Maybe. But These Stocks Have Been Dead Money for Decades

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    Cheesecake Factory appears to be “running the same play,” wrote J.P. Morgan analyst John Ivankoe in a recent restaurant industry outlook. I don’t think he meant it as a compliment—the stock, he noted, trades where it did in 2004, adjusted for splits.

    Why the long stall-out? My first thought was that maybe hitting the mall for a hypercaloric sit-down meal off a menu the size of a Gutenberg Bible has fallen out of favor over the years. But no: Sales have bounced back and then some from the Covid pandemic, with plenty of takeout business and dessert orders. The average


    Cheesecake Factory


    (ticker: CAKE) restaurant does more than $10 million in yearly sales, or twice as much as an Olive Garden.

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  • The best food marketing stunts of the year | CNN Business

    The best food marketing stunts of the year | CNN Business

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    New York
    CNN
     — 

    Comically oversized snack foods. A cocktail infused with processed cheese. And a fine dining establishment for feline lovers.

    In 2022, there were plenty of restaurants, food manufacturers and at least one artist collective that tried to break through with their shenanigans.

    These food stunts were often outrageous and sometimes regrettable. But only a few unleashed items that made us say, “wait, what? Why would you do that? Who would eat that?” And, occasionally: “that actually sounds pretty good.”

    Here’s what caught our attention this year.

    Over the summer, Kraft Heinz

    (KHC)
    introduced a new cocktail: The Veltini, a martini made with Velveeta-infused vodka, olive brine and vermouth, garnished with Velveeta-stuffed olives and Velveeta-stuffed shells. The concoction was available for a limited time at BLT steakhouses in New York, Washington, D.C., Charlotte and elsewhere.

    The drink was part of Kraft Heinz’s broader efforts to reinvigorate the Velveeta brand after it saw sales of the processed cheese jump during the pandemic. To help Velveeta stage a comeback, the brand launched a new ad campaign, made tweaks to its logo and sold a cheese-scented nail polish.

    The Veltini made a splash, even though (or perhaps because) those brave enough to try it were unenthused.

    One Washington Post writer said it looked “like a deranged cheese monster, with olives as beady eyes and a dripping Velveeta cheese rim as a lopsided mouth.” The Today Show’s Hoda Kotb tried it on air, reluctantly, and was not a fan. “Yuck,” she said, “No, girl, no.” Her co-host, Jenna Bush Hager, said it wasn’t bad.

    This cereal is supposed to be eaten with orange juice.

    To be clear, this isn’t orange juice cereal: It’s cereal designed to be eaten with orange juice instead of milk. OJ-maker Tropicana sold the honey almond cereal for a limited time in May in honor of National Orange Juice Day.

    The brand acknowledged that people might not be into the combination. “Whether you hate it or love it, you won’t know until you try it,” Tropicana said. “It may not be for everyone.”

    One reviewer who gave the franken-breakfast a shot described it as “​​not bad,” adding “I can’t imagine eating a bowl of this every day.”

    Plus, she said, it didn’t taste like it was supposed to go with orange juice specifically. “There’s absolutely nothing different from other cereals.”

    Oscar Maye's

    In August, Oscar Mayer, also owned by Kraft Heinz, introduced the “Cold Dog”: A hot-dog flavored popsicle. The item was sold for a limited time at Popbar locations in New York City, New Orleans and elsewhere.

    The idea came from a June Instagram post by Oscar Mayer which asked followers whether the idea was “genius” or “stupid.” Comments on the post range from horrified to intrigued. Enough people were interested to give Oscar Mayer the green light.

    “After the overwhelming fan excitement for our beloved Cold Dog, it was a no-brainer to make this hot dog-inspired frozen pop a reality,” Anne Field, an Oscar Mayer spokesperson, said in a press release at the time.

    So how did it taste? In at least one reviewer’s opinion, pretty good.

    “I was beyond skeptical of how they could make a hot dog popsicle taste good. And somehow, they managed to do it!” according to a writer at Delish, who noted that Popbar uses gelato as the base for its pops. “The gelato is extremely creamy and has a strong smokey flavor that balances out the popsicle’s delicate sweetness. The sweet ‘mustard’ drizzle makes it taste more like a proper ice cream.”

    A Big Cheez-It is 16 times larger than a regular Cheez-It.

    In late June, Taco Bell tested out an item called a “Big Cheez-It Tostada.” As the name implies, it’s a tostada which used a Big Cheez-It — specifically, a Cheez-It 16 times larger than a regular one — as its base. The chain also tested out a “Big Cheez-It Crunchwrap Supreme,” which included the giant Cheez-It within the wrap.

    The items were available for a limited-time at one Taco Bell location. On July 3, within a week of the launch, Taco Bell reported that the items had already sold out. “The Big Cheez-It Tostada and Big Cheez-It Crunchwrap are in such Big demand that our limited offer is no longer available,” the chain said.

    Reviewers who tried the item were mixed. “Very cheesy, mmm” said one. Another concluded that “it’s not bad, it’s just weird.” Some noted that the Cheez-It, big though it may be, was not strong enough to maintain the weight of the toppings.

    A large Cheez-It was also utilized by Pizza Hut in 2019, when the pizza chain introduced its stuffed Cheez-It pizza. The limited-time item included “four baked jumbo squares” stuffed with cheese or pepperoni and cheese, and came with a side of marinara sauce for dipping.

    We're gonna need a bigger boat.

    Unlike the Big Cheez-It Tostada, the Big Froot Loop is an unauthorized creation, made by the artist collective MSCHF.

    The loop weighs nearly half a pound, is 930 calories and recently went on sale for $19.99. MSCHF tried to make the big loop taste as much as possible like the real thing, according to MSCHF’s co-founder Daniel Greenberg.

    “We look at things in culture and figure out how to make a twist on it,” Greenberg previously told CNN. The thinking behind the project was straightforward: “Let’s make a big f—ing fruit loop and that was it.” According to the MSCHF site, the item, which went on sale December 19, is already sold out.

    Kellogg’s, which makes actual Froot Loops, was not into it.

    “Kellogg Company does not have a relationship with MSCHF and we were not involved in the creation of the Big Fruit Loop,” Kellogg spokesperson Kris Bahner previously told CNN in a statement. “The campaign does not accurately depict the Kellogg’s brand.”

    Bahner added that “given the trademark infringement and unauthorized use of our brand, we have reached out to the company seeking an amicable resolution.”

    A dish at

    Over the summer, Fancy Feast invited people to answer the question: What does cat food taste like? Well, sort of.

    The cat food maker briefly opened a restaurant called “Gatto Bianco by Fancy Feast” in New York City in August. Gatto Bianco was open for just two nights, with four seatings per night.

    The restaurant dishes drew inspiration from Fancy Feast Medleys, cat food that is itself inspired by human food like salmon primavera and turkey florentine. The restaurant’s menu was created by Amanda Hassner, in-house chef for Fancy Feast, as well as restaurateur Cesare Casella, a Michelin star winner, according to a Fancy Feast press release.

    “Food has the power to connect us to others in meaningful ways and take us to places we have never been,” Hassner said in a statement at the time. “The same is true for our cats.”

    Hassner added that “the dishes at Gatto Bianco are prepared in ways that help cat owners understand how their cats experience food — from flavor, to texture, to form.” On the menu, according to OpenTable, were baked sea bass, spare ribs, salmon, braised beef and for dessert, panna cotta, almond cake and affogato.

    A Mashable reporter dined at the exclusive restaurant and reported that “the food is tasty,” and the atmosphere feline. “The design of the restaurant itself is practically an Instagram installation for the cat-obsessed, complete with ornate cat wallpaper, gold-embellished Fancy Feast cloth napkins, and cat art (as in, artwork of cats, not art made by cats).”

    Papa Bowls are all topping, no crust.

    As a permanent addition to the Papa Johns menu, the no-crust, toppings-only Papa Bowls are technically not a stunt.

    But the menu offering was so polarizing when it launched in August that we had to give it a nod.

    The bowls were devised to help combat pandemic-induced pizza fatigue by giving Papa Johns customers an option that was, let’s say, pizza adjacent. The company also hoped that the bowls would eliminate the “veto vote,” when a restaurant is ruled out because it doesn’t have enough options for everyone in the dining party.

    The bowls come in three varieties: Chicken Alfredo; Italian Meats Trio with pepperoni, sausage and meatballs; and Garden Veggie. There’s also a build-your-own option.

    The announcement made quite a splash. Comedian Jon Stewart, who has made repeated jabs at Arby’s, said he owed an apology to the chain upon seeing news of the Papa Bowl. At least one YouTube reviewer panned the bowls, saying it was gross and slimy. But some people thought it was a good idea.

    And during a November analyst call, Papa Johns CEO Rob Lynch said the bowls are “performing well and in line with our expectations.”

    — Zoe Sottile and CNN’s Jordan Valinsky contributed to this report.

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  • Jim Cramer’s Investing Club meeting Wednesday: Santa Claus rally, down-and-out buys, Starbucks call, Sunday Ticket

    Jim Cramer’s Investing Club meeting Wednesday: Santa Claus rally, down-and-out buys, Starbucks call, Sunday Ticket

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  • How much should you tip your barista? | CNN Business

    How much should you tip your barista? | CNN Business

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    New York
    CNN
     — 

    A new checkout trend is sweeping across America, making for an increasingly awkward experience: digital tip jars.

    You order a coffee, an ice cream, a salad or a slice of pizza and pay with your credit card or phone. Then, an employee standing behind the counter spins around a touch screen and slides it in front of you. The screen has a few suggested tip amounts – usually 10%, 15% or 20%. There’s also often an option to leave a custom tip or no tip at all.

    The worker is directly across from you. Other customers are standing behind, waiting impatiently and looking over your shoulder to see how much you tip. And you must make a decision in seconds. Oh lord, the stress.

    Customers and workers today are confronted with a radically different tipping culture compared to just a few years ago — without any clear norms. Although consumers are accustomed to tipping waiters, bartenders and other service workers, tipping a barista or cashier may be a new phenomenon for many shoppers. It’s being driven in large part by changes in technology that have enabled business owners to more easily shift the costs of compensating workers directly to customers.

    “I don’t know how much you’re supposed to tip and I study this,” said Michael Lynn, a professor of consumer behavior and marketing at Cornell University and one of the leading researchers on US tipping habits.

    Adding to the changing dynamics, customers were encouraged to tip generously during the pandemic to help keep restaurants and stores afloat, raising expectations. Total tips for full-service restaurants were up 25% during the latest quarter compared to a year ago, while tips at quick-service restaurants were up 17%, according to data from Square.

    The shift to digital payments also accelerated during the pandemic, leading stores to replace old-fashioned cash tip jars with tablet touch screens. But these screens and the procedures for digital tipping have proven more intrusive than a low-pressure cash tip jar with a few bucks in it.

    Customers are overwhelmed by the number of places where they now have the option to tip and feel pressure about whether to add a gratuity and for how much. Some people deliberately walk away from the screen without doing anything to avoid making a decision, say etiquette experts who study tipping culture and consumer behavior.

    Tipping can be an emotionally charged decision. Attitudes towards tipping in these new settings vary widely.

    Some customers tip no matter what. Others feel guilty if they don’t tip or embarrassed if their tip is stingy. And others eschew tipping for a $5 iced coffee, saying the price is already high enough.

    “The American public feels like tipping is out of control because they’re experiencing it in places they’re not used to,” said Lizzie Post, co-president of the Emily Post Institute and its namesake’s great-great-granddaughter. “Moments where tipping isn’t expected makes people less generous and uncomfortable.”

    Starbucks has rolled out tipping this year as an option for customers paying with credit and debit cards. Some Starbucks baristas told CNN that the tips are adding extra money to their paychecks, but customers shouldn’t feel obligated to tip every time.

    One barista in Washington State said that he understands if a customer doesn’t tip for a drip coffee order. But if he makes a customized drink after spending time talking to the customer about exactly how it should be made, “it does make me a little bit disappointed if I don’t receive a tip.”

    “If someone can afford Starbucks every day, they can afford to tip on at least a few of those trips,” added the employee, who spoke under the condition of anonymity.

    The option to tip is seemingly everywhere today, but the practice has a troubled history in the United States.

    Tipping spread after the Civil War as an exploitative measure to keep down wages of newly-freed slaves in service occupations. Pullman was the most notable for its tipping policies. The railroad company hired thousands of Black porters, but paid them low wages and forced them to rely on tips to make a living.

    Critics of tipping argued that it created an imbalance between customers and workers, and several states passed laws in the early 1900s to ban the practice.

    In “The Itching Palm,” a 1916 diatribe on tipping in America, writer William Scott said that tipping was “un-American” and argued that “the relation of a man giving a tip and a man accepting it is as undemocratic as the relation of master and slave.”

    But tipping service workers was essentially built into law by the 1938 Fair Labor Standards Act, which created the federal minimum wage that excluded restaurant and hospitality workers. This allowed the tipping system to proliferate in these industries.

    In 1966, Congress created a “subminimum” wage for tipped workers. The federal minimum wage for tipped employees has stood at $2.13 per hour — lower than the $7.25 federal minimum — since 1991, although many states require higher base wages for tipped employees. If a server’s tips don’t add up to the federal minimum, the law says that the employer must make up the difference. But this doesn’t always happen. Wage theft and other wage violations are common in the service industry.

    The Department of Labor considers any employee working in a job that “customarily and regularly” receives more than $30 a month in tips as eligible to be classified a tipped worker. Experts estimate there are more than five million tipped workers in the United States.

    Just how much to tip is entirely subjective and varies across industries, and the link between the quality of service and the tip amount is surprisingly weak, Lynn from Cornell said.

    He theorized that a 15% to 20% tip at restaurants became standard because of a cycle of competition among customers. Many people tip to gain social approval or with the expectation of better service. As tip levels increase, other customers start tipping more to avoid any losses in status or risk poorer service.

    The gig economy has also changed tipping norms. An MIT study released in 2019 found that customers are less likely to tip when workers have autonomy over whether and when to work. Nearly 60% of Uber customers never tip, while only about 1% always tip, a 2019 University of Chicago study found.

    What makes it confusing, Lynn said, is that “there’s no central authority that establishes tipping norms. They come from the bottom up. Ultimately, it’s what people do that helps establish what other people should do.”

    You should almost always tip workers earning the subminimum wage such as restaurant servers and bartenders, say advocates and tipping experts.

    The option to tip at coffee shops has become ubiquitous.

    When given the option to tip in places where workers make an hourly wage, such as Starbucks baristas, customers should use their discretion and remove any guilt from their decision, etiquette experts say. Tips help these workers supplement their income and are always encouraged, but it’s okay to say no.

    Etiquette experts recommend that customers approach the touch screen option the same way they would a tip jar. If they would leave change or a small cash tip in the jar, do so when prompted on the screen.

    “A 10% tip for takeaway food is a really common amount. We also see change or a single dollar per order,” said Lizzie Post. If you aren’t sure what to do, ask the worker if the store has a suggested tip amount.

    Saru Jayaraman, president of One Fair Wage, which advocates to end subminimum wage policies, encourages customers to tip. But tips should never count against service workers’ wages, and customers must demand that businesses pay workers a full wage, she said.

    “We’ve got to tip, but it’s got to be combined with telling employers that tips have to be on top, not instead of, a full minimum wage,” she said.

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  • Hostme Partners With Wix to Offer Reservation and Waitlist Technology to Restaurant Owners

    Hostme Partners With Wix to Offer Reservation and Waitlist Technology to Restaurant Owners

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    Restaurant owners can now integrate Hostme’s feature-rich reservation and waitlist management system into their Wix website to help them streamline and manage customer activity.

    Press Release


    Dec 14, 2022 11:15 EST

    Hostme, a leading provider of restaurant management software, today announced it has established a new integration with Wix.com Ltd. (NASDAQ:WIX), a leading global SaaS platform, to create, manage and grow an online presence. Restaurant owners with their websites built on Wix can seamlessly integrate Hostme’s automated restaurant reservation and waitlist management system to help them streamline and manage customer activity.

    As diners seek the convenience of online reservations and waitlists, restaurateurs are looking for manageable yet feature-rich solutions to build and manage their online presence. With this partnership, restauranteurs will be able to focus on their business operations and provide exceptional customer experiences.

    Hostme’s platform helps restaurants manage their tables, reservations, staff, and waitlist, all in one place. From reservation deposits to comprehensive reports and analytics, Hostme offers all the tools restaurant owners need to run a successful business. Not only does the integration streamline the website creation, but by sharing guest data between the two systems, it enables restaurant owners to accurately record reservations.

    “This integration is a game changer for restaurants,” said Evgeny Popov, CEO of Hostme. “Our mission is to be an ally to the hospitality industry, and this proves our commitment to empower restaurants and to bring the best and latest technologies to them. With this integration, restaurant owners are empowered to have full control over their online presence.”

    “We are always working to provide our users with a variety of convenient and innovative solutions tailored to their business needs,” said Billy Kovalsky, Head of Wix App Market. “We’re happy to be integrating with Hostme to provide Wix Restaurant users with a solution to help manage their reservations and waitlists easily. Through this integration, we can help restaurant owners remain competitive, provide quality service to more customers, and ultimately grow their revenues.”

    The integration is available to global Wix Restaurant users through the Wix App Market. For more information, click here.

    About Hostme

    Hostme is a world-class restaurant reservation and waitlist management system. Trusted by over 4,000 establishments worldwide, Hostme enables restaurants to take ownership of their online reservations and waitlists and heighten their guest experience. Offering an innovative solution and superior support, Hostme is the restaurant partner of choice dedicated to their customers’ success.

    Source: Hostme

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