Leading the headlines today is a focus on
Blue Apron whose brief life as
a public company just got a bit more tumultuous. The meal-kit-delivery
company disclosed Wednesday in a regulatory filing that it would lay off
6% of its workforce. The company said earlier this year that it had a
little over 5,000 employees, so a 6% cut would equate to roughly 300
In other news,
a Brazilian federal appeals court on
Thursday granted an injunction releasing assets belonging to the Batista
brothers, owners of the world's largest meatpacker JBS SA, Ticiano
Figueiredo, a lawyer representing the defendants, said. A spokeswoman at
the appeals court did not immediately reply to a request for comment.
Denny's Corporation announced its expansion into Europe
through a franchise agreement with Denny’s Magic Diners U.K., led by
seasoned franchise executive Leon Esfahani. The agreement will bring 10
locations to the United Kingdom over the next several years, with the
first expected to open in Wales by the end of the year.
Restaurants on Thursday lowered its expectations for restaurant margins
this year, citing cost pressures in its fiscal third quarter due to food
inflation. The Lake Forest, Calif.-based Mexican chain said its
same-store sales increased 4.1 percent in the period ended Sept. 12 —
the 16th straight quarter of same-store sales growth.
Foods announced it is expanding beyond restaurants, launching sales of
its award-winning Impossible Burger to universities, companies and other
institutions. The Impossible Burger will make its nationwide campus
debut at the University of Chicago’s Quantum Café. Later this year, it
will debut at the Tiffin Café at the University of Chicago’s
International House. Both restaurants are operated by Bon Appétit
Management Company, the acclaimed sustainable foodservice pioneer that
runs more than 1,000 cafés for universities, corporations, and museums
in 33 states.
Finally today, our weekly retail column looks at
how the Consumer Price Index (CPI) rose 0.5% in September, according to
the Bureau of Labor Statistics. The food index rose 0.1%, the same
increase as in August. The index for food away from home rose 0.3%,
while the index for food at home was unchanged in September after
declining in August. Over the last 12 months, the index for food at home
has risen 0.4%, while the index for food away from home rose 2.4%. As
the rise in cost to dine out increases at a faster rate than retail
grocery prices, the number of consumers opting for that cost-savings may
swell, especially as holiday budget planning comes into play.
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