Monday April 1, 2024, 11:05:47
By Mark Kalinowski
The meaningfully increased minimum wage for most of California’s quick-service/fast-casual employees goes into effect today, April 1, 2024. Despite the date, this change is no joke to thousands of restaurant owner/operators. The new minimum wage is $20.00 per hour. This is noticeably above the previous – and not industry-specific — minimum wage of $15.50 per hour, although multiple local municipalities had been above this $15.50 per hour level:
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Friday March 15, 2024, 11:13:59
By Mark Kalinowski
Recently, Starbucks noted that it faced multiple challenges in its fiscal Q1 2024 (calendar Q4 2023). These challenges include: (1) the effect on Starbucks’ sales trends in the Middle East due to some people’s attitudes regarding Israel and its self-defense following it being attached on October 7th, (2) trying to normalize sales trends from Starbucks’ more occasional customer in the U.S. (some of which may reflect some of those customers’ attitudes about Israel), and (3) a generally more cautious consumer environment in China (which has led to greater promotional activity).
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Tuesday January 30, 2024, 19:28:57
By Mark Kalinowski
After today’s (Tuesday’s) market close, Starbucks reported fiscal Q1 2024 (calendar Q4 2023) adjusted EPS of $0.90, matching our $0.90 forecast, but falling short of sell-side consensus (according to Consensus Metrix) of $0.94.
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