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During a press conference in Bucharest, KFC Division CEO Sabir Sami said that the market in Eastern Europe and Romania presents "immense" opportunities. Maria Cacciapuoti, Central and Eastern Europe general manager of KFC, added that the company wants to grow quickly in the area. "We plan to open hundreds of restaurants in the coming years, and Romania is one of the countries that will play an important role," said Cacciapuoti.
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On Tuesday, Nov. 21, the Las Vegas Sphere will be transformed into a Pie in the Sky thanks to Pizza Hut. Pizza Hut is transforming the Sphere’s exterior into a pizza to celebrate the launch of its new $7 Deal Lover’s Menu. Those around the Las Vegas Sphere between 5:30-9:30 p.m. on that day can get a free item from the new menu by scanning a QR Code, which is redeemable at any participating Pizza Hut location nationwide.
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| Sustainability served hot with ShariLee Rafferty |
Grab a slice of the latest #3Questions featuring Pizza Hut Global Design Manager ShariLee Rafferty. ShariLee talks with Yum! CEO David Gibbs about how she collaborates with a cross-brand sustainability dream team, including Robyn Lodge at KFC, Rachel Meyer and Emily True at Pizza Hut and Stephanie Zhu and Alyson Baynes at Yum! Corp. to shape the green buildings strategy for Pizza Hut globally. Learn firsthand from ShariLee how we can all work together to sustainably grow the business while minimizing our environmental footprint. |  | (For Yum! Eyes Only) |
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On Friday, Tim Hortons opened its first outlet in Singapore, the first of four it plans in the country in the coming months. Singapore is the third Southeast Asian country for Tim Hortons after the Philippines and Thailand. The expansion was led by Marubeni Growth Capital Asia, which also plans to bring the chain to Malaysia and Indonesia within the next year.
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CFO interviewed Chipotle CFO Jack Hartung, who discussed the company’s applications of AI, the importance of data access, and why the business continues to inspire him. "I think AI has a lot of potential and will have some quick wins, but wide-scale implementation will take time," he said.
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At its recent “Family Reunion” Brand Conference, Lee’s Famous Recipe Chicken unveiled a new restaurant prototype that it plans to launch in 2024. The new store features a dual drive-thru, an online ordering pick-up area and more. The new design can also be adapted for its existing restaurants and conversion opportunities.
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In Australia, Domino's largest franchisee, Domino's Pizza Enterprise, unveiled a new e-bike for delivery that features a fan-forced pizza oven. The dxb e-bike is being rolled out in markets where the Australia-based franchisee operates, which include Australia, New Zealand, Japan and Taiwan.
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Burger King is testing the new Grill’wich breakfast sandwiches in metro Detroit and the McAllen-Brownsville area of Texas. The sandwich features breakfast items, like sausage and bacon, on a flame-grilled flatbread.
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Walmart CEO Doug McMillon said deflation could be coming to key grocery items, such as eggs and chicken. “And while that would put more unit pressure on us, we welcome it, because it’s better for our customers," said McMillon. “The pockets of disinflation we are seeing are helping, but we like to see more, faster,” he added. At Walmart, groceries are up by a mid-single-digit percentage compared with last year, but still elevated by the high-teens percentage compared with two years ago, said CFO David Rainey.
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Since its acquisition by Krispy Kreme five years ago, Insomnia Cookies has grown from 135 shops to 247 and has seen revenue grow with projections of $230 million in 2023. However, Krispy Kreme is now looking to sell the cookie concept because it wants to put all resources into producing, selling and distributing fresh doughnuts daily. Krispy Kreme CFO Jeremiah Ashukian said the acquisition is expected to “generate a strong return on investment in the business that we made and realize value for our shareholders.”
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IHOP refreshed its menu several times this year, including its biggest menu update in the company’s history, which led to a rise in same-store sales. In response, parent company Dine Brands is now updating the menu at two of its other brands, Applebee’s and Fuzzy’s Taco Shop. “I think it is important to keep a brand fresh, particularly brands that have been around for as long as [Dine has],” Dine Brands CEO John Peyton said. “The bottom line is we want to be relevant to our guests and we do that through menu innovation.”
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After a successful test with its honey Sriracha wings in the summer, Pei Wei has launched four permanent wings flavors - honey Sriracha, sticky, mango habanero and spicy Korean BBQ. “In just a few short weeks, honey Sriracha wings became a top four shareable, outselling mainstays like our Chinese egg rolls and chicken dumplings. The new wing protein allowed us to reach new segments for wing enthusiasts,” said Brian Dreeland, director of marketing.
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A person in California has sued Starbucks after she said "scalding hot" tea spilled on her in a drive-thru. Attorneys for the woman allege that Starbucks employees improperly placed the lid on the cup and didn't serve the hot tea in the appropriate cup. They accuse Starbucks of being aware of other burn complaints but failing to "undertake any efforts to determine or minimize the occurrence of lids popping off cups."
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Italy has banned the production and sale of cultivated meat and will also prohibit the use of terms describing plant-based products as meat. Agriculture Minister Francesco Lollobrigida backed the decision, adding that he hopes the European Union would follow with similar rules.
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| A Canadian court struck down a regulation classifying some plastic products as toxic. A ban on manufacturing and importing "harmful" single-use plastics came into effect last December after the federal government formally drew up an order that added items like bags, straws and forks to a list of toxic items. The Federal Court in Ottawa overturned that decision, calling the listing "unreasonable and unconstitutional." |
Fortune released its World's Best Workplaces list for 2023, which found that trust was one of the key factors in establishing a healthy workplace culture. “What matters is the trust companies build with their employees. High-trust workplaces listen to all their people, innovate, adapt, measure and repeat," said Michael C. Bush, CEO of Great Places To Work. The 25 winning companies had a larger percentage of workers reporting fair pay (75%), healthy work-life balance support (84%) and a voice in decisions that affected their lives (81%), compared to the typical global workplace.
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