Latest news with #restaurant
Yahoo
22 minutes ago
- Business
- Yahoo
Chipotle reports lower profit in Q2 2025
Chipotle Mexican Grill has reported a net income of $436.1m, or $0.32 per diluted share, for the second quarter (Q2) of 2025, ended 30 June - a slight decrease from $455.7m, or $0.33 per diluted share, in the previous year. The Q2 results revealed a mixed performance with increased total revenue but decreased comparable restaurant sales and operating margins. The company's total revenue saw a 3% rise to $3.1bn, driven by new restaurant openings, yet comparable restaurant sales fell 4%. Operating margin decreased to 18.2% from 19.7% and restaurant-level operating margin declined to 27.4% from 28.9%. Despite the downturn in some areas, Chipotle continued its expansion by opening 61 new company-owned restaurants, with 47 featuring the Chipotlane drive-through facility. Digital sales accounted for 35.5% of total food and beverage revenue. Adjusted net income also saw a marginal decline to $450.4m, or $0.33 per adjusted diluted share, compared to $463.0m, or $0.34 per adjusted diluted share, in Q2 2024. The brand's stock repurchase programme remained active, with $435.9m worth of stock bought back at an average price of $50.16 per share. As of the end of the quarter, Chipotle had $838.8m available for further repurchases, bolstered by an additional $400m authorised by the board on 10 June 2025. Cost efficiencies in food, beverage and packaging, which fell to 28.9% of total revenue, were offset by inflation in ingredient costs, particularly for steak and chicken. Labour expenses rose to 24.7% of total revenue, attributed to lower sales volumes despite the benefits of previous menu price increases and efficient labour management. General and administrative expenses decreased to $172.2m, largely due to reduced performance bonuses and stock-based compensation. On a non-generally accepted accounting principles (GAAP) basis, general and administrative expenses for Q2 2025 were $159.9m, against $171.3m in the previous quarter. The effective income tax rate also saw a slight reduction to 24.5%, driven by lower non-deductible expenses. Looking ahead to the full year 2025, management expects comparable restaurant sales to remain flat and plans to open between 315 and 345 new company-owned restaurants, with more than 80% featuring a Chipotlane. The anticipated underlying effective full-year tax rate is estimated to be between 25% and 27% before discrete items. For Q1 (ended 31 March 2025), Chipotle reported a 6.4% increase in revenue to $2.9bn, compared with $2.7bn posted in the same period of the previous year. "Chipotle reports lower profit in Q2 2025" was originally created and published by Verdict Food Service, a GlobalData owned brand.
The Sun
24 minutes ago
- Entertainment
- The Sun
Star of Emmy-winning TV series reveals she's now working in restaurant kitchen after axe from show
EUPHORIA'S Nika King has revealed she's now working in a restaurant kitchen after being axed from the show. Nika, 46, who played Rue's mum Leslie Bennett in the Emmy-winning drama, surprised fans by posting a video of herself scrubbing floors and cleaning. 5 The footage was shot at the Blue Tree Café - a vegan soul food restaurant she co-owns with her mom Sharon in Fort Lauderdale, Florida. Sharing the clip on Instagram, the actress joked: 'When ppl ask me if I'm filming S3 of Euphoria?' before cutting to footage of her cleaning the kitchen. Fans couldn't believe their eyes and soon rushed to the comments section. One wrote: "You know the job market is terrible when main actors of a huge TV show are struggling,' while another added: 'Learning that actors have real jobs out of the filming roles is really humbling to me.' A third said: "As an actor who's been out of work for the past two years after the biggest show I've ever done, this felt really validating,' one fan commented. 'Thanks for sharing.' Someone else added: 'This is real life and I'm glad you showed it. People think every actor or actress is rich off one show, and I know some that work regular jobs after being on a Hulu show.' Back in February, Nika confirmed she wouldn't be returning for season three, saying: 'I see the DMs, I see the comments asking if I'm returning for a season three on Euphoria – and unfortunately, I am not.' 'My character is not coming back to the show, but I am forever grateful to HBO and Zendaya and Sam Levinson for giving me the opportunity to come on set and do my thing and do my dramatic thing – because a lot of people don't know I come from a comedy background – but I am so excited about what's next for me. 'Without Euphoria, I was not able to step into who I am as an actor, as a daughter, as a person who is always looking for healing in every project that I do – so I feel like this was necessary in my growth. 'And yeah, to the fans, I love y'all. I mean, I didn't know I even had fans! People were like, checking for me. I'm like, 'Oh, okay, cool' – but thank you so much. And you guys have an amazing day – peace and blessings.' Euphoria 'likely to end' with season 3 - but fans predict it 'won't ever end up getting made' after production delays Since her exit from the show, Nika has appeared in several films, including Sound of Hope: The Story of Possum Trot and The Rebel Girls, both in 2024, as well as 65 alongside Adam Driver in 2023. She also hinted she's leaning on her faith through the transition, adding: 'All things work to those who love God and who are called by His purpose - and so I'm trusting Him to move me into the next season of my life.' Euphoria, which airs on HBO and HBO Max in the US and in the UK on Sky Atlantic and Now, is currently filming its third and final season. A release date is yet to be set. 5 5 5 5
Forbes
3 hours ago
- Business
- Forbes
Designer David Rockwell Has A Full Plate Of Restaurant Projects Ahead
The bar at the The View, the revolving restaurant in the Marriott Marquis Times Square Despite celebrating the 40th anniversary of his Rockwell Group design firm last year, star architect and designer David Rockwell seems unwilling to rest on his laurels. Although he's had a hand in crafting some of the world's most memorable spaces—particularly high-profile restaurants, hotels, and theater projects—he continues to seek out new challenges. The Interview, Part Two In part one of our interview, he reflected on his impressive career and talked about some of the considerations that go into building community around the table. In the second half of this discussion, he shines a spotlight on some of the Rockwell Group projects that are waiting in the wings. If it's there, I'm not sure I'm the one to see it because I'm so focused on what we're doing. (pauses) Maybe one signature is that they look better full than empty. That may be true about every restaurant, but I think we very much look at what a restaurant is like at the height of walking through it, and what it's like sitting down. If you spend money evenly on a project, you don't get highlights and lowlights. You have to have a strategy about where to put a disproportionate amount of the resources, and where you're going to create those landmarks. If the client is interested in artwork, you have to figure out how to embrace that. I had been going to the original Union Square Cafe for about 15 years before we did the second one, so I was really a student of it. We made a model of the new space and re-created every piece of artwork that [owner] Danny [Meyer] had collected to scale. With tweezers, we set them by each banquette [in the model]. We were creating an entirely new space that was channeling the DNA of the original. At The Corner Store, the owner really wanted to use New York photography, and we were very involved with where it goes, how it's mounted, and how to orchestrate it. I'm more interested in the things that have remained. The very first restaurant I did was all about movement and choreography. It was about materiality; I brought in a costume designer from Santa Fe to make a silk mural. What has stayed is my sense of curiosity, my appreciation. I'm a little less in a hurry. I really take in the moments—how profound it is to create places that people enjoy. We had done the original W Union Square, and now we got to redo it, so we had long thoughts there. My observation about Union Square now versus 22 years ago was that there are things that really relate to the grid of New York, and others that relate to the changeable explosion of color that happens in Union Square—for instance, the chalk art, which we translated to the carpet. Seahorse, the restaurant in the W Union Square We engaged Artemest, a group that connects you to Italian artisans. The light fixtures were made by different artisans, many of them from Milan, including a beautiful mosaic piece that gives the bathrooms a kind of sheen. They're high gloss and have an elevated sense of ritual. I think ritual is very important—dining is very much a set of rituals. One person's version of humor is another person's pain in the neck. I think we design places with beauty in mind, with flexibility. I think the unexpected relates to humor—juxtapositions create opportunities. Hairspray was my second Broadway show, and when I met with the director for the first presentation, I filled the conference room with lots and lots of sketches and designs. He looked at all of it, put his arm around me, and said, 'Why don't we take everything out of the room except for those things that make you fall in love with Tracy Turnblad?' It was a real lesson. The environment doesn't want to be in the foreground, and I think that's sort of true about humor. You want to create the setting and the context for it, but not solve the whole problem. I'd like to be involved with the Olympics—that would be great, having been to the Olympics in Paris, and being a fan of the Olympics. I think there's something about bringing people together to celebrate excellence. There are a million design problems—problems I've solved—about movement, choreography, and sense of place. I think it's to create experiences in places that make the world more connected. It's true, and even when we do offices, the parts that I talk about are those that [relate to] connection. I think that's what drove me to architecture—the idea of creating these temporal communities. We won't take a restaurant project if someone wants it to look like something we've done before. Each restaurant is a different adventure, a chance to dive into what that chef or operator wants. It's amazing to create places. During COVID, we made T-shirts and bags that said, 'Buildings are memory machines,' and I think that's really true.
Yahoo
4 hours ago
- Business
- Yahoo
PAR Technology Corp (PAR) Continues to Grow Revenue in Q2
Laughing Water Capital, an investment management company, released its second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter of 2025, Class A interests in Laughing Water Capital returned approximately 13.1% net of all expenses. The SP500TR and R2000 returned 10.9% and 8.5%, respectively. In addition, you can check the fund's top 5 holdings to determine its best picks for 2025. In its second quarter 2025 investor letter, Laughing Water Capital highlighted stocks such as PAR Technology Corporation (NYSE:PAR). PAR Technology Corporation (NYSE:PAR) offers omnichannel cloud-based hardware and software solutions to the restaurant and retail industries. The one-month return of PAR Technology Corporation (NYSE:PAR) was 5.17%, and its shares gained 35.68% of their value over the last 52 weeks. On July 23, 2025, PAR Technology Corporation (NYSE:PAR) stock closed at $71.23 per share, with a market capitalization of $2.885 billion. Laughing Water Capital stated the following regarding PAR Technology Corporation (NYSE:PAR) in its second quarter 2025 investor letter: "PAR Technology Corporation (NYSE:PAR) – PAR, our restaurant and convenience store technology company, continues to grow revenue while keeping costs nearly flat. The first half of the year was characterized by multi-product customer wins that will bear fruit later this year. The second half of the year should see an acceleration of the Burger King rollout, as well as other large wins. CEO Savneet Singh recently indicated that the customer pipeline is bigger than it has ever been, and additional M&A is likely at some point." An engineer working in a tech lab, surrounded by tools and components. PAR Technology Corporation (NYSE:PAR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held PAR Technology Corporation (NYSE:PAR) at the end of the first quarter compared to 33 in the third quarter. PAR Technology Corporation's (NYSE:PAR) first quarter revenue increased more than 48% to $104 million. While we acknowledge the potential of PAR Technology Corporation (NYSE:PAR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered PAR Technology Corporation (NYSE:PAR) and shared Bristlemoon Global Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Daily Mail
4 hours ago
- Business
- Daily Mail
Thai chain created by Wagamama founder collapses into administration
A popular restaurant chain created by Wagamama founder Alan Yau has become the latest hospitality business to fall into administration. Busaba Eathai drafted in administrators from Leonard Curtis earlier this month, potentially marking the beginning of the end for the 25-year-old group, Companies House documents show. At its peak, the chain had 16 restaurants before financial difficulties forced it to cut back to 12 in 2020. It blamed the loss on higher costs, weaker London footfall owing to the cost of living crisis, and 'summer-wide disruption caused by industrial action on train and tube network'. Busaba is the latest hospitality firm to face financial troubles as the sector shoulders a huge increase in employment costs after hikes to national insurance contributions and the living wage earlier this year. Hospitality firms also face higher energy costs, while the industry says business rates are too high.
