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[ad_1] Nicolas Jammet, chief concept officer and co-founder of Sweetgreen Inc., right, eats a salad during the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Sweetgreen on Thursday reported a narrower-than-expected loss in its first quarter after slowing its expansion to focus on profitability. The salad chain, which went public in November 2021, is aiming to turn a profit for the first time by 2024. Last quarter, it announced it would take a more conservative approach to entering new markets. It's also cutting support-center costs and simplifying its management structure. Sweetgreen shares rose 7% in extended trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Loss per share: 30 cents vs. 35 cents expected Revenue: $125.1 million vs. $126 million expected ...

[ad_1] A man drinks a coke and eats a Big Mac at a McDonald's in Cologne, Germany, on May 25, 2015. Oliver Berg | picture alliance | Getty Images McDonald's has upgraded its burgers — but it's unclear if its sales will get the same boost. The fast-food giant has outperformed its rivals in recent quarters, helped by price hikes across its menu and higher-income customers trading down to its McNuggets and Big Macs. Still, McDonald's U.S. traffic dipped in the third quarter as low-income diners cut back their visits. When the company announces its fourth-quarter results Monday morning, analysts are expecting U.S. same-store sales growth of just 4.4%, according to StreetAccount estimates. That's an obvious lag compared with the third quarter's 8.1% U.S. same-store sales growth. McDonald's and rival fast-food chains will face pressure to grow traffic this year. Diners won't stomach the double-digit price hikes that fueled last year's sales. Instead...

[ad_1] Food-delivery company Wonder Group has gotten a cash infusion from Nestle , as the startup looks to sell high-tech kitchen equipment and prepared ingredients to businesses such as hotels, hospitals and sports arenas. The deal includes a $100 million investment from Nestle, along with a strategic partnership, according to sources familiar with the matter who asked not to be named because financial terms of the deal are not public. Nestle and Wonder confirmed the deal but declined to reveal transaction details. The funding could get Wonder a step closer to its ambitions of making it easier, faster and cheaper for busy families to have high-quality meals at home. The startup, which was valued at about $3.5 billion when it closed a $350 million funding round in June, was founded in 2018 by serial entrepreneur and former Walmart e-commerce chief Marc Lore. Wonder recently struck a deal to acquire meal-kit company Blue Apron for $103 million. It has also developed kitchen equ...

[ad_1] Pedestrians walk past Yum! Brands Inc. Pizza Hut and KFC restaurants in Shanghai, China. Qilai Shen | Bloomberg | Getty Images China is leaving behind pandemic lockdowns, and U.S. companies like Procter & Gamble , Starbucks and MGM Resorts International say the country's recovery is boosting their overall sales as consumers in their home markets watch their wallets. With its large population and swelling middle class, China is a desirable market for many multinational companies that have seen their U.S. businesses mature. But its zero- Covid policy, which imposed harsh restrictions to stop the spread of the virus, hurt the country's economy — and revenue for the many U.S. companies that sell their goods or services there. After rolling back the policy in December, China's economy grew 4.5% in the first quarter. U.S. companies are reporting that demand in China is returning, boosting their sales at a time when many U.S. consumers are pulling back their spe...

[ad_1] As the summer hiring market heats up, small and seasonal businesses may find they're missing a key demographic to fill roles – teen workers. Outplacement firm Challenger Gray projected teens will gain 1.1 million jobs in 2023, down slightly from last year's numbers and the lowest forecast since 2011. The group said this spring that teens are once again working at pre-pandemic levels, but cautioned many teens who are willing to take on jobs are likely already in the workforce. The unemployment rate for teens aged 16 to 19 crept up slightly in June to 11% from the previous month, according to Friday's June jobs report from the Bureau of Labor Statistics. Meanwhile the labor participation rate fell year on year, to 36.3% from 42.9% in June 2022. That could mean fewer available workers for businesses like Grotto Pizza that rely heavily on teens, according to hiring manager Glenn Byrum. Across Grotto's 20 locations in Delaware and Maryland, teens make up a litt...

[ad_1] Restaurateur Danny Meyer doesn't think customers need to tip when they pick up takeout or buy coffee. "If you're just taking out food, and it was just a transaction — I give you money, you give me a cup of coffee — I don't think there's any obligation to tip whatsoever," Meyer said on CNBC's "Squawk Box" on Thursday. Meyer founded Shake Shack and serves as chair of its board. The burger chain added tipping to its restaurants last year. He also founded Union Square Hospitality Group, which mostly operates full-service restaurants. The company's eateries include Union Square Cafe, Gramercy Tavern and fast-casual chain Daily Provisions. As more businesses adopt Square's and Toast's point-of-sale systems, customers are getting more used to being prompted to tip as they pay. But some leave feeling overcharged or confused about how much they should tip. CEO of Shake Shack Randy Garutti (Left) and founder and Chairman Danny Mey...