Chipotle Mexican Grill and Coach store logos. Getty Images Chipotle and Cava pinned weaker sales on younger customers who are pulling back and packing lunches. But Gen Z shoppers are still spending on Coach handbags to bring to work — even if they’re skipping bowls and burritos. Coach’s parent company, Tapestry, raised its full-year outlook…
Customers arrive at a Cava restaurant in New York City on June 22, 2023. Brendan Mcdermid | Reuters Cava on Tuesday lowered its full-year forecast for same-store sales growth after a disappointing second quarter. For the full year, Cava now anticipates same-store sales growth of 4% to 6%, down from its prior range of 6%…
Chipotle Mexican Grill’s new Adobo Ranch dip Source: Chipotle Mexican Grill Restaurant brands are hoping hot new menu items will drive visits among younger customers. Hot, in this case, is literal. Spicy items like chicken sandwiches, seasoned sides and sauces are cropping up more often on menus at major fast-casual and quick-service chains. The idea…
A customer exits a Cava restaurant in New York City on June 22, 2023. Brendan McDermid | Reuters As some consumers pull back on spending amid economic uncertainty, fast-casual restaurant chains are leaning on rewards programs to pull them back in. Loyalty programs, which offer discounts or added perks for returning customers, have transitioned from…
CNBC’s Jim Cramer on Monday suggested that young investors are driving market action by putting their money into newer companies that promote ideas they find exciting. “Long story short, these younger investors reward bold behavior,” he said. “They punish companies like Apple, which seems to have an aversion to being bold and, instead, like to…
