Latest news with #MichaelHalen
Yahoo
10-08-2025
- Business
- Yahoo
Wendy's Guidance Cut As US Sales Show Economic Pressure
Wendy's shares rally as much as 3.9% despite a sales miss for the second quarter, and a worse-than-expected outlook for annual systemwide sales. The company blamed the shortfall on "dynamic consumer behavior and a more challenging competitive environment." Bloomberg's Michael Halen reports. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
08-08-2025
- Business
- Bloomberg
Wendy's Guidance Cut As US Sales Show Economic Pressure
Wendy's shares rally as much as 3.9% despite a sales miss for the second quarter, and a worse-than-expected outlook for annual systemwide sales. The company blamed the shortfall on 'dynamic consumer behavior and a more challenging competitive environment.' Bloomberg's Michael Halen reports. (Source: Bloomberg)
Bloomberg
06-08-2025
- Business
- Bloomberg
McDonalds' Sales Rise Due to Pop Culture-Focused Collaborations, Budget Meals
Bloomberg Markets TV Shows McDonald's Corp. sales picked up in the latest quarter, suggesting that pop culture-focused collaborations and budget meals are helping to offset diners' economic anxiety. Bloomberg's Michael Halen reports. (Source: Bloomberg)
Yahoo
11-07-2025
- Business
- Yahoo
Performance Food Draws Takeover Interest From US Foods
(Bloomberg) -- Performance Food Group Co. has attracted takeover interest from US Foods Holding Corp., a potential deal that would create a food distribution company with combined sales of roughly $100 billion, people familiar with the matter said. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Why Did Cars Get So Hard to See Out Of? Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? How German Cities Are Rethinking Women's Safety — With Taxis Rosemont, Illinois-based US Foods has been evaluating an acquisition of Performance Food and expressed interest about a potential combination in recent months, according to the people, who asked not to be identified because the information is private. Shares of Performance Food rose as much as 5.1% on Friday, the biggest intraday gain in three months, to hit an all-time high. They were up 4% at 9:57 a.m. in New York, giving the company a market capitalization of about $14.7 billion. US Foods shares rose 1.2%, valuing the company at $18.8 billion. There's no certainty the deliberations will lead to a transaction, the people said. Representatives for US Foods and Performance Food declined to comment. The combined company would become the No. 1 US foodservice distributor, with 18% of the $371 billion market, according to Bloomberg Intelligence. That would surpass current market leader Sysco Corp., which has a 17% share, senior industry analyst Michael Halen wrote in a research note. Performance Food has a strong footprint in independent pizzerias, convenience stores and candy and snacks — all areas where US Foods is underexposed, he said. A deal would create 'meaningful scale and synergies,' though it would hurt US Foods' Ebitda margins, according to Halen. US Foods supplies restaurants, hospitals, schools and hotels, generating revenue of $37.9 billion last year. The company employs about 30,000 people in more than 70 locations, according to its website. Performance Food offers similar services in the US and Canada across three units: restaurant supplier Performance Foodservice, candy and snack distributor Vistar and its Core-Mark business serving convenience stores. US Foods could structure a deal to minimize pressure on debt ratios by using more equity to complete an acquisition, and any increase in leverage would be temporary, Bloomberg Intelligence senior credit analyst Julie Hung wrote in a separate note. However, the deal could face regulatory scrutiny, she said. In 2015, Sysco Corp.'s planned $3.5 billion takeover of US Foods Inc. was blocked by a federal judge who said a merger of the food distribution giants would probably have reduced competition. US Foods went public the following year under its current name. (Updates with share moves, analyst quotes from third paragraph.) Trump's Cuts Are Making Federal Data Disappear Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Soccer Players Are Being Seriously Overworked 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
01-07-2025
- Business
- Bloomberg
FAT Brands' Wiederhorn on Growth, Debt Paydown: Choppin' It Up
Sales almost double when we convert a Smokey Bones to a Twin Peaks, FAT Brands' Chairman Andy Wiederhorn tells Bloomberg Intelligence. In this episode of the Choppin' It Up podcast, Wiederhorn sits down with BI's senior restaurant and foodservice analyst Michael Halen to discuss FAT Brands growth opportunities, including Twin Peaks, and plans to repay debt. He also comments on franchisee health, everyday value and the refranchising of Fazoli's.
