|Bid||87.02 x 1800|
|Ask||87.21 x 1000|
|Day's range||85.69 - 87.44|
|52-week range||54.95 - 119.72|
|Beta (5Y monthly)||0.87|
|PE ratio (TTM)||24.29|
|Earnings date||30 Jul 2020|
|Forward dividend & yield||1.88 (2.18%)|
|Ex-dividend date||28 May 2020|
|1y target est||94.20|
The outlook for the nation's restaurants in the wake of COVID-19 isn't pretty, says one celebrity chef.
(Bloomberg) -- Major brands are getting caught up in the MeToo movement against sexual harassment and assault that’s sweeping through video-game streaming, the fast-growing but insular world of watching amateurs and professionals play live online.In the past month, dozens of women -- often, former girlfriends or fellow streamers -- have accused more than 150 people of everything from rape to groping underage girls to cheating.Nvidia Corp., which makes powerful chips used in gaming PCs and runs a gaming service, is among the big companies contending with the problem. The company was working on a sponsorship project this year with Samuel Earney, a streamer on Amazon.com Inc.’s Twitch platform. Then the allegations hit.On June 22, a former girlfriend accused Earney, known on Twitch as IAmSp00n, of sexual and emotional abuse. She said he lorded his sponsorship deal with an unnamed PC-part manufacturing company over her as part of that mistreatment.The ex-girlfriend’s statement helped to explain the apology Earney had issued the previous day. “My actions haven’t been proper or appropriate,” he said, adding that he would ask his sponsors and partners to remove him “from programs and services so that they aren’t held responsible.” Soon after, Twitch closed his account; the site wouldn’t provide reasons for the ban.“We have ceased all engagement with Samuel Earney (IAmSp00n),” Nvidia said in a statement. “We condemn such behavior and commend those who come forward to support the safety of our gaming community.”Twitch BansNvidia isn’t alone. Twitch, by far the largest streaming site, recently banned a handful of streamers and said it will report some cases to the authorities. Facebook Gaming banned one streamer as well, and is investigating some personalities from rival service Mixer who are supposed to join the platform. Alphabet Inc.’s YouTube said it’s investigating allegations as well; many streamers banned elsewhere still have a presence there. All streaming sites’ terms of service prohibit harassment of other users, and many of the accusers are also streamers.While the streaming industry has been accused of sexism and harassment of women for years, in the past many accusers faced a backlash, said Isabelle Briar, who streamed under the name of LadyNasse before retiring recently.“You may speak up about something, and you might want to work with a brand, but you get turned down, and you don’t know why,” Briar said. “This can damage your hireability.”But this time around -- possibly because of the broader MeToo movement in entertainment and business -- “reaction was wildly different,” she said. Accusers have received a wave of support in comments on Twitter and elsewhere. And some brands are breaking ties with the accused, withdrawing the advertising and sponsorship fees that make up the lion’s share of the most popular streamers’ earnings.Many industry insiders say this is just the tip of the iceberg, in large part due to streaming culture, particularly among gamers.“Every streamer feels the need to push some sort of boundary in order to differentiate themselves,” said Lewis Ward, an analyst at IDC. “You are trying to fix something that’s embedded into gaming culture.”Apologies, DenialsSome of the accused streamers have posted lengthy apologies. Others deny any wrongdoing. Facebook said on June 22 it suspended streamer Michael “Thinnd” McMahon while it investigates abuse allegations from an ex-partner. McMahon categorically denied the allegations. He now advertises his YouTube channel on Twitter, instead.Headsets maker 1More, a past sponsor, said McMahon’s contract expired more than a year ago. “To our knowledge we have not sponsored any other streamers accused of harassment, nor would we if the information was brought to our attention,” 1More said in a statement. “We hold our partners to a high standard, and will continue to do so for any future sponsorships.”After being accused of sexual misconduct, Omeed Dariani, chief executive officer of the streamer-management firm Online Performers Group, vacated his position. “I believe women, I recognize that I am not innocent and have contributed,” he said in a tweet. Today, OPG’s website lists no clients, amid reports that many streamers have left the company. OPG and Dariani didn’t respond to requests for comment.On June 29, OPG said it hired a consulting firm to investigate claims against Dariani. In the past, the firm had helped streamers strike deals with the likes of Yum! Brands Inc.’s Taco Bell, according to San Diego Business Journal. Taco Bell didn’t immediately respond to a request for comment.As a result of all this, major brands are expected to step up their vetting.“Sponsoring streamers has been sort of the Wild West over the past few years,” said Doug Clinton, managing partner at Loup Ventures, a research-driven venture-capital firm. “The industry has grown so quickly, I think brands have been forced to adapt to the opportunity and probably take some chances that they may not be as comfortable with in the future.”Still, small and thirsty brands may not be so picky -- simply because having a streamer gulp down your drink, wear your glasses or point out your gaming gear during a session is marketing gold.“When trying to target gamers, there aren’t many better ways than through streaming,” said Matthew Kanterman, an analyst at Bloomberg Intelligence.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The largest operator of Pizza Hut restaurants in the US has filed for bankruptcy after warning it failed to secure adequate financial relief from the brand’s owner Yum Brands, a sign of tension in the fast food sector as it grapples with the effects of the coronavirus pandemic. NPC International, which operates 1,225 Pizza Hut outlets as well as 385 Wendy’s venues, filed for Chapter 11 protection in Texas on Wednesday after it buckled under the weight of its $900m debt burden. The group had been struggling long before the pandemic, and its Pizza Hut business was particularly weak.
Restaurant Brands CEO Jose Cil and McCormick CEO Lawrence Kurzius talks about the company's diversity efforts with Yahoo Finance.
One of the largest restaurant franchisees in the U.S. is expected to file for bankruptcy, according to Fox News. NPC International, which owns over 1,200 of Yum Brands (NYSE: YUM) Pizza Hut restaurants and nearly 400 for Wendy's (NASDAQ: WEN), may file for Chapter 11 protection as early as today. The franchisee has struggled for years as Yum!
Beyond Meat founder Ethan Brown responds to marketplace concerns about the company's relationship with McDonald's.
Yum! Brands (YUM) is likely to benefit from technology-driven initiatives. However, high operating costs and low traffic due to coronavirus pose concerns.
Following a successful test run, Burger King rolled out its Impossible Croissan'wich nationwide. Here's what Yahoo Finance thought about the new breakfast sandwich.
(Bloomberg) -- Yum! Brands Inc. sued GrubHub Inc. over the cancellation of a five-year deal to deliver food from KFC and Taco Bell restaurants, saying customers of those franchises will end up paying more to get orders filled.The lawsuit filed Thursday in state court in New York comes a day after Just Eat Takeaway.com NV agreed to acquire Chicago-based Grubhub for $7.3 billion, creating one of the world’s largest meal-delivery companies as the coronavirus pandemic drives a surge in orders.Earlier this month, GrubHub declared invalid a 2018 deal to sell a $200 million stake in the company to Yum, part of a partnership that included online ordering for KFC and Taco Bell in the U.S. GrubHub cited Yum’s interactions with rival delivery platforms Uber Eats and PostMates as justification for scuttling the agreement, according to the lawsuit.“GrubHub’s improper efforts to rid itself of a deal it no longer wanted and to line its pockets will cause enormous harm to consumers at a time when they can least afford it,” Yum said in the complaint. “Many consumers remain reluctant to leave home or to eat in restaurants in the midst of a global pandemic. GrubHub’s brazen action will result in an increase of nearly 40% in the fees consumers pay.”Yum is seeking unspecified damages and said the failed deal has put the company’s reputation at risk.“It is unfortunate that Yum has taken this step and we are very sorry about the situation Yum franchisees are in, with millions of dollars now at risk especially in the midst of this challenging environment,” GrubHub said in an emailed statement. “We’re happy to work with Yum to resolve our contract dispute, but we intend to ensure that GrubHub and its stakeholders are protected against Yum’s breach of the exclusivity provisions of the agreement.”The original deal was part of the fast-food industry’s scramble to expand American delivery options beyond pizza. Yum, which also operates Pizza Hut, wanted to boost market share by offering the service for things like chicken thighs and tacos. At the time, Yum said it expected the GrubHub partnership to “drive incremental, profitable growth for our U.S. franchisees over the long term.”GrubHub accused Yum in a June 2 letter of breaching the terms of their deal “by engaging third party delivery providers” with “direct technological integrations between Yum systems and those of Uber Eats and Postmates, as well as an integration of operations and logistics.”As a result, GrubHub said in the letter, Yum had lost the right to a GrubHub board seat under the agreement and that Pizza Hut Chief Executive Officer Artie Starrs may be asked to resign as a GrubHub director.The case is Yum Restaurant Services Group LLC v GrubHub Holdings Inc., New York State Supreme Court, New York County.(Updates with GruhHub comment)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Outrage over George Floyd’s killing at the hands of Minneapolis police officers have pushed America to the brink, but have also spurred numerous big companies and brands into a new form of activism.
When looking at restaurant stocks, one could hardly find two more formidable fast-food empires than McDonald's (NYSE: MCD) and Yum! Brands (NYSE: YUM). With almost 39,000 locations and over 50,000 locations, respectively, these mature businesses have moved beyond their high-growth phase.
Fast food giant Taco Bell is ramping up hiring and announced today that it will be hiring 30,000 workers this summer.
The restaurant sector will take time to recover from the economic fallout of COVID-19, but McDonald’s (MCD) is well positioned long term, says one analyst.
The probability that U.S. restaurants will default has soared in recent weeks as a result of the devastating COVID-19 pandemic, according to S&P Global Market Intelligence.