Latest news with #SharkAttack
Fox News
a day ago
- Entertainment
- Fox News
Young shark attack survivor hopes to swim with sharks again
Shark attack survivor Jameson Reeder Jr. recounts his harrowing ordeal and miraculous recovery during an interview on 'Fox & Friends Weekend.'
Miami Herald
3 days ago
- Business
- Miami Herald
Starbucks may lose ground to fast-growing coffee rival
Dutch Bros, a fast-growing Starbucks rival, is disrupting the specialty coffee market with a major expansion plan to directly challenge Starbucks' dominance in key markets like California and Texas. Like Starbucks, Dutch Bros' roots stretch back to the Pacific Northwest, where it operated as a coffee pushcart in Oregon in 1992. Dane and Travis Boersma founded the company with money Dane had set aside from operating a Dairy Queen after Travis suggested selling espresso in Grants Pass. Don't miss the move: Subscribe to TheStreet's free daily newsletter Today, the company looks a lot different. Dutch Bros sells specialty coffee drinks at over 1,000 stores, mainly in the Western US, and plans to open another 1,000 directly or via franchises by 2029. Unlike Starbucks, Dutch Bros focuses on speed and drive-throughs, rather than an in-store cafe experience. Still, most Starbucks offer drive-through service, and Dutch Bros' expansion plan sets the stage for a fierce battle over on-the-go market share in the coming years. Bloomberg/Getty Images Dunkin remains concentrated mainly in the Northeast, and while Starbucks' reach is nationwide, Dutch Bros' (BROS) footprint overlaps with Starbucks in major markets, including California and Texas, where Starbucks and Dutch Bros operate the largest number of stores, often near each other. Dutch Bros' top five states by number of locations, according to ScrapeHero: Texas: 223California: 203Oregon: 157Arizona: 89Washington: 72 Starbucks' top five states by number of locations: California: 3,186Texas: 1,473Florida: 940New York: 760Washington: 712 Dutch Bros edge is offering coffee lovers a relatively fast and easy way to get their fix. It still serves up espresso, but its specialty drink line-up has expanded in recent years to include flavor mashups and refreshers, similar to offerings at Starbucks and other rivals. Related: Starbucks' problems may be too big to fix For example, Dutch Bros most popular drinks include the Golden Eagle with espresso, vanilla, caramel, and a caramel drizzle, and its Rebel Energy drink lineup, including Double Rainbro and Shark Attack. It also sells milkshakes, smoothies, and other drinks. Those beverages are resonating with customers, given the company's revenue and same store sales growth. Dutch Bros' second quarter earnings results revealed revenue grew 28% year over year to $415.8 million, with company-owned locations accounting for $380.5 million, up 29%. "Our business continues to fire on all cylinders, guided by a focused strategy, strong execution, and our amazing people," said Dutch Bros CEO Christine Barone. Across all locations, same shop sales rose 6.1%, and it wasn't just because of price increases or inflation. Same shop transactions at Dutch Bros company-operated stores increased 5.9% from last year and 3.7% overall. Management says transaction growth is tied to efforts to increase drink innovation, including its Dulce de leche, sour Berry and Matcha beverages. It's also amped up advertising focusing attention on its Dutch Rewards program, which represented 72% of system transactions, up 5% from last year. More Retail Stocks: Troubled retailer files Chapter 11 bankruptcy, liquidates storesWayfair struggles to reverse concerning customer behaviorWalmart introduces mobile new store format for younger customers As for new locations, Dutch Bros opened 31 new stores in the quarter, 30 of which it owns directly, in 13 states. The coffee business remains nicely profit-friendly, too. Dutch Bros. All those specialty drinks sold resulted in a net income of $38.4 million, up from $22.2 million last year, and adjusted earnings per share, or EPS, grew 37% to 26 cents from 19 cents one year ago. Dutch Bros drinks are flying out of the drive-through, but it's content to leave the in-store business largely to Starbucks. Instead, its secret weapon in growing sales rests largely on establishing a vibe with millennials and Gen Z customers with sweeter drinks, in an environment that can be considered a bit more hip, as evidenced by the fact that their baristas are called broistas. Related: Forget coffee: Dutch Bros. new menu aims to take on Starbucks Those broista's aim for a fun, high-energy atmosphere driven with the pushcart, know your customer, style customer service. "Since 1992, we have been trailblazing a category-defining people-first culture within the drive-through beverage industry," said Barrone. "When combined with our relentless focus on speed, quality and service, our people-first culture is not only our differentiator, but it is our most powerful competitive advantage." This year, Dutch Bros plans to open 160 stores and it's targeting 4.5% same shop revenue growth, resulting in revenue of $1.59 billion to $1.6 billion. Further out, its also testing food, leaning into solid order-ahead sales, and planning to launch consumer packaged goods (CPG) in 2026 to bring Dutch Bros to grocery and convenience stores like Starbucks and Dunkin. To be sure, Starbucks is much larger, and deeply embedded, with many loyal fans. It has struggled in recent years, though. Workers have increasingly attempted to unionize over pay and increased workloads, and some customers have balked at the quality of their food and speed of their service. That may mean that there's an opening for Dutch Bros to chip away at Starbucks market share, a very large opportunity given Starbucks 41,000 stores worldwide brought in over $9.4 billion in revenue last quarter. "Dutch Bros is in growth mode, and we are just getting started with a long-term addressable market of 7,000 shops nationwide," said Barrone. Investors appear to agree. Dutch Bros' stock price surged after the earnings release, jumping 22% on August 7. Related: Forget Amazon, this online retailer is growing even faster The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Sydney Morning Herald
13-06-2025
- Entertainment
- Sydney Morning Herald
Italian meets Korean at this CBD pizza joint
Here's a bold statement: South Korea is the world capital of fusion cuisine. Here's a place to debate the assertion: Pizza Monster, an Italian-Korean mash-up that serves pizzas with, say, bulgogi beef, corn, sweet potato mousse and almond flakes on a black rice dough base, and carbonara with oyster sauce and spring onion. Crazy? No. Crazy-good. Pizza Monster is small, cute and chic, perfect for a pizza date with a difference. Try the Shark Attack cocktail for some pour-your-own theatre.
The Age
13-06-2025
- Entertainment
- The Age
Italian meets Korean at this CBD pizza joint
Here's a bold statement: South Korea is the world capital of fusion cuisine. Here's a place to debate the assertion: Pizza Monster, an Italian-Korean mash-up that serves pizzas with, say, bulgogi beef, corn, sweet potato mousse and almond flakes on a black rice dough base, and carbonara with oyster sauce and spring onion. Crazy? No. Crazy-good. Pizza Monster is small, cute and chic, perfect for a pizza date with a difference. Try the Shark Attack cocktail for some pour-your-own theatre.
