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An undetermined number of McDonald’s employees at a northeastern Ohio franchise received handbills in their most recent paychecks suggesting they vote for three Republican candidates.
The fast food chain’s corporate headquarters in Oak Brook quickly condemned the action by the Canton, Ohio, restaurant, saying it was not reflective of the company’s position. Get the full story »
McDonald’s Corp. plans to raise menu prices to blunt higher costs, including what would be its first such increase in the U.S. in more than a year — a time when the burger chain’s sales have thrived amid lower prices.
The company expects to increase prices in the U.S. and Europe amid projections that commodity costs will rise between 2 percent and 3 percent in 2011, Chief Financial Officer Peter Bensen said Thursday during a conference call after McDonald’s reported a 10 percent increase in third-quarter earnings and added that October sales appear strong. Get the full story »
A McDonald's restaurant in Bismark, N.D. (AFP/Karen Bleier)
McDonald’s shares hit an all-time high after the restaurant chain said its third-quarter profit surged 10 percent to $1.4 billion on growth in “all areas of the world.” Shares in McDonald’s were up 2.57 percent to $79.40 in morning trading on the New York Stock Exchange.
Comparable sales grew 6 percent worldwide, 5.3 percent in the U.S., 4.1 percent in Europe and Asia/Pacific, and 8.1 percent in the Middle East and Africa.
Earnings per share increased 12 percent to $1.29. Revenues were up 4 percent to $6.3 billion. Analysts polled by Thompson Reuters had been expecting $6.23 billion in revenues and earnings per share of $1.25. Get the full story »
From the Chicago Sun-Times | Pop-Grip LLC, an investment company backed by the children of a spurned vice president of Brown’s Chicken, submitted the highest bid of $585,000 at an auction Monday to take over the chicken franchise. The company said it intends to invest in the 28 Brown’s Chicken stores and “bring it back tasting better than ever.” Get the full story>>
Burger King Holdings Inc .said it did not get any superior buyout offers during the “go-shop” period following its agreement to sell itself to investment firm 3G Capital for $3.26 billion.
The world’s second-largest hamburger chain had time until Oct. 12 to solicit a richer offer from other buyers. Get the full story »
From Crain’s Chicago Business | Champaign-based Jimmy John Enterprises LLC has filed a lawsuit accusing the Chicago-based parent of Halsted Street Deli, for infringing on two of its trademarked sandwiches — Turkey Tom and Hunter’s Club.. Get the full story>>
McDonald's McRib sandwich. (McDonald's)
The elusiveness of McDonald’s McRib sandwich’s has created a fan base of people who go to considerable lengths to munch on one of the boneless pork patties. Ryan Dixon of Burbank, Calif., once drove 10 hours to Medford, Ore., after hearing a McDonald’s there was selling the sandwich.
McRibs, launched in 1981 are almost never available at all McDonald’s restaurants at the same time. Instead, the Oak Brook,, company offers them in different cities at different times, rarely for longer than a few weeks. Get the full story »
(Image courtesy penn-station.com.)
Penn Station East Coast Subs, a cheesesteak-and-fries chain based in Milford, Ohio, has opened its first Chicago area location in Lombard.
The chain expects to have 20 Chicago area locations by 2015.
The first franchise partner is Gordon Hahn, previously of Chicago Bread LLC, a franchise group that operates 31 Chicago-area Panera restaurants. Hahn and his son Kevin are partners at the Lombard locations, and expect to open four more around Chicago. Get the full story »
Wendy’s is making its next push behind salads by cutting the serving in half, hoping to keep sales of its upgraded salads strong by offering them at a lower price.
Wendy’s, a unit of Wendy’s/Arby’s Group Inc., later this month will add half-sized versions of its new higher-end salads, which come in varieties like Apple Pecan Chicken and BLT Cobb, for $3.99. It’s also adding a “Pick 2” menu where, for $4.99, customer can add-on items like a baked potato, small chili, a Jr. Bacon Cheeseburger, chicken wraps or drinks that normally cost between $1 and $1.49. Get the full story »
Fast-food giant McDonald’s says a key revenue figure rose 4.6 percent in the U.S. in August, as customers continued to come in for its frappes and smoothies. The world’s largest hamburger chain says overall its August sales at restaurants open at least 13 months climbed 4.9 percent.
Burger King's new blueberry muffins. (AP/Burger King)
Burger King is introducing nine new breakfast items including blueberry biscuits and pancake platters and planning a major breakfast marketing blitz — all with an eye toward eating up some of McDonald’s morning business.
The chain said the move Tuesday is its biggest introduction of new items at one time ever. It also includes iced coffee from Seattle’s Best. Get the full story »
A McDonald's double cheeseburger. (Kevin Pang/Tribune)
Oak Brook-based McDonald’s Corp. came in last in a new Consumer Reports rating of fast-food burgers, the magazine said Friday.
Burger King and Wendy’s fared a little better, but the top honors went to smaller regional chains like California’s In-N-Out Burger and Virginia-based Five Guys Burgers and Fries, which has several locations in Chicago. Get the full story »
Chick-fil-A has planned grand opening activities Sept. 16 for its new restaurant opening in Aurora, its first store in the Chicago-area.
Atlanta-based Chick-fil-A is moving ahead on three other restaurants in the suburbs. Next year, Chick-fil-A is planning to open its first restaurant in the city of Chicago, followed by one or two more by the end of 2011. Ultimately, the company hopes to have 25 restaurants here in five years. Get the full story »
Burger King's Miami headquarters. (Joe Raedle/Getty)
Burger King Holdings Inc. confirmed that New York-based 3G Capital Management has signed a deal to buy the company for $24 a share.
The total deal, including both equity and debt, is around $4 billion and is expected to closed before the end of the year. Burger King said it may solicit better offers through mid-October. Banks are expected to finance about $2.8 billion of the total deal value. Get the full story »
Customers stop at a Burger King for lunch this week in Chicago. (Scott Olson/Getty Images)
Burger King Holdings Inc. has been in talks with private-equity firms in recent weeks about a possible sale of the second-largest hamburger chain, people familiar with the matter said.
The status of the talks is unclear but one interested firm was 3i Group PLC, a British private-equity firm, these people said. It is uncertain whether these discussions will result in a sale. Get the full story »
