All articles tagged with #customer traffic
Cracker Barrel expects a 4-7% decline in customer visits this year due to negative reactions to its failed logo and restaurant redesign, which led to an 8% drop in traffic and a 9% decrease in shares after the earnings report.
Target is experiencing declining sales and foot traffic due to inflation, tariffs, and consumer boycotts, prompting the company to overhaul its store strategy, improve customer experience, and invest in technology, while also addressing tariff-related price concerns.
Red Lobster's "Ultimate Endless Shrimp" promotion, which allows customers to eat as much shrimp as they want for $20, proved to be too popular, resulting in an unexpected increase in customer participation and an approximately $11 million loss in the third quarter of 2023. The seafood chain saw a 2% increase in traffic compared to the previous quarter and a 4% increase compared to the previous year. To address the issue, Red Lobster has incrementally increased the price of the promotion from $20 to $25.
McDonald's Q1 earnings beat expectations with same-store sales rising 12.6% in both the US and abroad, boosted by higher menu prices and positive guest count growth. The company's revenue and earnings per share also topped forecasts. McDonald's CEO Chris Kempczinski said the results demonstrate that the company's Accelerating the Arches strategy is working. Year-to-date shares of McDonald's are up nearly 11% against a 7% gain for the S&P 500.
Chipotle is expected to report strong Q1 earnings with adjusted earnings of $8.95 per share from $2.3 billion in revenue, according to analysts. However, there is a possibility that the company may exceed these estimates due to strong customer traffic.