Monday, July 26

Restaurants

Chipotle, Fast Food, labor shortage, Restaurants, Retail

Chipotle’s stores had their most profitable quarter since 2015 despite the chain raising wages

Chipotle just announced high restaurant operating margins from the second quarter of 2021. Margins were up despite the chain raising wages this summer. Chipotle says raising menu prices led to the increased profitability. LoadingSomething is loading. Chipotle just had a hugely successful quarter, with its most profitable period for its stores s...
Chipotle, Fast Food, Restaurants, Retail, Shipping, Shortage, Transportation

Chipotle customers are reporting ingredient shortages as the chain says it is facing high beef and shipping costs

Customers say Chipotle locations are out of key ingredients like rice and steak. Chipotle says it is facing high beef and freight costs, but there is no system-wide shortage. Taco Bell, Starbucks, and other chains are also dealing with shortages. LoadingSomething is loading. Some Chipotle locations are running out of key ingredients, according ...
Economy, Employment, Jobs, labor shortage, Restaurants, Retail, Weekend BI UK, Work

Some restaurants are temporarily closing because they can’t find enough workers. One said diners have gotten ruder amid the labor shortage and even made staff cry.

Some restaurants are temporarily closing or cutting their hours because of the labor shortage. One opened for an hour less each day after staffing fell by nearly 50% compared with normal years. A third of former hospitality workers said in a Joblist poll that they won't return to the industry. See more stories on Insider's business page. Some restaurants are cutting down their opening hours or temporarily closing for days on end because they simply can't find enough workers to serve diners, amid the huge labor shortage hitting the hospitality industry.One even shut down for a day after rude diners swore at staff and made them cry.C...
Consumer Price Index, Economy, Food, grocery, inflation, Price increases, Restaurants, Retail, Snacks

The price of vending machine food just jumped by a record amount as Pepsi, Coca-Cola, and snack brands hike prices

The price of snack food sold in vending machines in the US was up 2.3% between May and June. This is the biggest single-month cost jump on record, according to Axios. Food shortages, the labor shortages, and supply chain snafus are leading to price hikes. See more stories on Insider's business page. Vending machine food prices soared in June.According to the consumer price index from the Bureau of Labor Statistics, snack food sold in these machines in the US was up 2.3% last month, the biggest single-month cost jump on record, Axios reported. The cost of eating out was up 0.7% overall.Food shortages, wage hikes, and the ongoing la...
Bill Ackman, Billionaires, Domino's Pizza, Markets, MI Exclusive, Pershing Square Capital Management, Pershing Square Tontine Holdings, Restaurants, Stocks

Billionaire investor Bill Ackman has likely scored a $200 million gain on Domino’s Pizza stock in the past 14 weeks

Bill Ackman. YouTube / Saïd Business School, University of Oxford Bill Ackman's Pershing Square has probably made over $200 million on Domino's Pizza stock. The investor's fund owned $749 million of the pizza-delivery group's shares at the end of March. Domino's stock has surged 31% since then, lifting Pershing's stake to about $980 million. See more stories on Insider's business page. Billionaire investor Bill Ackman has likely made over $200 million on Domino's Pizza stock in the past 14 weeks.Ackman's fund, Pershing Square Capital Management, owned just over 2 million Domino's shares worth $749 million on March 30, regulatory filings show. The pizza-delivery chain's stock price has surged by 31% since then, boosting the value of Pershing's stake to about $980 million-a roughly...
Fast Food, Hiring, labor shortage, rage quitting, Restaurants, Retail, Workers

A California taco restaurant posted a sign blaming government handouts for slow service and a staff shortage

A California taco restaurant blamed a staff shortage and slow service on "state handouts." Some businesses are blaming workers and government handouts for the labor shortage. Others say the solution is simply to pay workers more. See more stories on Insider's business page. A taqueria in California posted a sign in its window blaming government handouts for a staff shortage, and asked customers to be patient with slow service. "Sadly, due to government and state handouts no one wants to work anymore. Therefore, we are short-staffed," the sign at Taco Loco restaurant in Folsom, California said, per CBS Sacramento."Please be patient ...
Coresight, Darden Restaurants, Dave & Busters, Deutsche Bank, Economy, Features, Hilton, Housekeepers, Housekeeping, Markets, Olive garden, QR Codes, Restaurants, Retail, Travel

Say goodbye to hotel turndown and these other services people simply don’t want to pay for anymore

Hilton discontinued daily housekeeping this week, part of a wider trend in hospitality. It's one of several things that customer-facing businesses are realizing they don't need anymore. The economy of 2021 is leaving behind parts of the economy of 2019: the physical ones. See more stories on Insider's business page. For Americans, early July marks Independence Day. This year, it also marks independence for hospitality workers.A record number of hospitality workers are simply quitting their jobs with no intention of ever going back, declaring a certain kind of independence. And those still on the job just gained independence from da...
Economy, Employment, Hospitality, Jobs, labor shortage, Leisure, Restaurants, Retail, Unemployment, Work

A third of former hospitality workers say they won’t return to the industry because they want higher pay, better benefits, and a new work environment

A third of former hospitality workers say they won't return to the industry at all, per a survey by Joblist. They want better pay and benefits than the industry can offer, they say. Hospitality pays less than other industries, but the labor shortage is forcing companies to push wages up. LoadingSomething is loading. ...
Fast Food, Food, mobile order, Mobile ordering, Restaurants, Retail, Tech Insider

Restaurants pushing digital orders in the labor shortage could mean diners asking for more food because they don’t feel judged by servers, an expert says

Diners feel less embarrassed asking for bigger meals when ordering digitally, an expert told the WSJ. Restaurants have turned to apps or QR codes for ordering during the pandemic and the US labor shortage. "People order more and the tables turn over faster, because they can get their orders and they can get their bills sooner," Deepthi Prakash said. See more stories on Insider's business page. Restaurants are rolling out ways for customers to order digitally, which could lead to diners placing bigger orders because they can hide their embarrassment from servers, one expert has said.When customers order digitally, rather than throug...