Weekly Global News Wrap: Fast food giants worried over Russia-Ukraine conflict; Another Starbucks cafe unionizes; Denny’s taps TikTok creators to promote new menu
Here is a summary of the most interesting news stories of the week from around the world.
The parent companies of Burger King and KFC are bracing for a sales hit as the Russia-Ukraine conflict unfurls. Commentaries published alongside the fast food giants’ annual reports said that instability in the area could lead to restaurant closures and loss of sales. Read more from Business Insider.
Krispy Kreme reported its first quarterly profit since its initial public offering in July. Net sales rose 13.8% to US$371 million, whilst organic revenue climbed 13.9% compared with the year-ago period and 15.9% on a two-year basis. Read more from CNBC.
Papa John’s said same-store sales were up 11.1% in North America in Q4, on top of an accelerated development pace. Digital sales saw double-digit growth for the second consecutive year in a row, with 90 to 95% of orders coming through digital channels. Read more from Nation’s Restaurant News.
Workers at a Starbucks location in the U.S. state of Arizona voted in favor of forming a union, now the third company-owned location to vote in support of unionizing and the first outside of the Buffalo, New York area. Read more from Restaurant Dive.
Denny’s is using the reach of TikTok creators to produce a dozen menu items in the United States. The chain’s first Social Stars Influenced Menu is the first phase of their new “Open for Anything” brand campaign. Read more from Nation’s Restaurant News.