An ad campaign targeting fast-food chains and a TikTok-viral appetizer helped Chili’s same-store sales climb nearly 15% in its latest quarter. But Kevin Hochman, CEO of parent company Brinker International, told CNBC that the chain’s strong performance is just a sign that customers are finally catching onto the chain’s two-year turnaround. Shares of Brinker have climbed 53% this year, bringing its market value up to $2.99 billion. However, the stock closed 10.7% lower Wednesday after the company disappointed analysts with weaker-than-expected earnings and a conservative outlook for its fiscal 2025. Shares were up 7% in afternoon trading on Thursday, rebounding from what BMO Capital Markets called an “overreaction” from investors. KeyBanc Capital Markets also upgraded the stock on Thursday, saying that its quarterly results were misunderstood. Forecast aside, Chili’s made even StreetAccount’s same-store sales estimates of 8.6% growth look cautious. Its 14.8% same-store sales growth puts it in rare company, joining Chipotle and Wingstop as the…
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Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his…
Trader Joe’s is recalling 653,000 scented candles because they pose an elevated fire hazard. In a release on the…
Mars will acquire Kellanova for $35.9 billion in cash, tying together some of the largest U.S. candy and snack brands, the companies announced Tuesday.…