Latest Hospitality and leisure industry News
Red Lobster closes dozens of locations across the US just months after 'endless shrimp' losses
NEW YORK (AP) — Dozens of Red Lobster locations across the U.S. are on the chopping block. Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the equipment of over 50 Red Lobster locations that were recently closed as part of the seafood chain's...
Here are the locations that Red Lobster is closing in the US
Red Lobster says it is closing nearly 50 of its restaurants in the U.S. The locations span across more than 20 states — cutting back on Red Lobster’s presence in cities like Denver, San Antonio, Indianapolis and Sacramento. Red Lobster has been struggling for some time. With lease and labor...
Ark Restaurants: Fiscal Q2 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Ark Restaurants Corp. (ARKR) on Monday reported a loss of $1.4 million in its fiscal second quarter. The New York-based company said it had a loss of 40 cents per share. The restaurant and bar operator posted revenue of $42.3 million...
Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain
NEW YORK (AP) — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is...
Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there
LONDON (AP) — Thousands of ride-or-die Taylor Swift fans who missed out on her U.S. concert tour last year or didn't want to buy exorbitantly priced tickets to see her again found an out-of-the-way solution: Fly to Europe. The pop star is scheduled to kick off the 18-city Europe...
Beyond Meat urges investors to look past bumpy Q1, says new US burger could reignite sales
Plant-based meat maker Beyond Meat urged investors to look past its mixed first quarter results Wednesday, saying a new, healthier burger hitting U.S. shelves now will help reignite weak sales. “We really do believe we are at the early stages of a pivotal and terrific year for...
Slow to expand, internet casino gambling is the future of US betting, industry execs say
SECAUCUS, N.J. (AP) — Internet casino gambling is legal in only a handful of states, but the industry is convinced it is the future of betting, even as some worry about cannibalizing physical casinos. Speaking Wednesday at the SBC Summit North America, a major gambling industry...
Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there
LONDON (AP) — Thousands of ride-or-die Taylor Swift fans who missed out on her U.S. concert tour last year or didn't want to buy exorbitantly priced tickets to see her again found an out-of-the-way solution: Fly to Europe. The pop star is scheduled to kick off the 18-city Europe...
Disney's streaming business turns a profit in first financial report since challenge to Iger
The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well and the company boosted its outlook for the year. ...
Instacart partners with Uber Eats to offer restaurant deliveries
Grocery delivery company Instacart is partnering with Uber Eats to offer a new perk to its customers: restaurant delivery. San Francisco-based Instacart said Tuesday that its U.S. shoppers will see a “Restaurants” tab in the company’s app in the coming weeks. Restaurant orders...
