Red Lobster Says Q3 Losses Are the Result of Popular Unlimited Shrimp Deal
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Red Lobster Says Q3 Losses Are the Result of Popular Unlimited Shrimp Deal
Red Lobster Says Q3 Losses , Are the Result of Popular , Unlimited Shrimp Deal.
NBC reports that Red Lobster's parent
company has disclosed the company's
unexpectedly large Q3 losses.
.
NBC reports that Red Lobster's parent
company has disclosed the company's
unexpectedly large Q3 losses.
.
According to Thai Union Group, the losses were
the result of Red Lobster's $20 shrimp promotion,
which was more popular than anticipated.
The proportion of the people
selecting this promotion was much
higher compared to expectation, Ludovic Garnier, Chief Financial Officer at Thai Union Group, via NBC.
This year, the company changed its annual all-you-can-eat-shrimp deal from a limited-time offer to a permanent one.
.
The company said the decision was meant
to boost traffic when business tends to slow
in the third and fourth quarters of the year.
.
While the strategy did bring in more customers,
bolstering the company's market share, low margins
from the popular deal presented a problem.
The company responded to the
promotion's surprising popularity by raising
the price from $20 to $22 and now to $25.
.
It’s one of the iconic promotions for
Red Lobster, so we want to keep it in
the menu but, of course, we we need
to be much more careful regarding
what is the entry point and
what is the price point we’re
offering for this promotion, Ludovic Garnier, Chief Financial Officer at Thai Union Group, via NBC.
Thai Union Group invested in Red Lobster in 2016 and obtained the rest of the company from Golden
Gate Capital in 2020 with a group of other investors.
In March, Bloomberg News reported that
Thai Union Group would seek to sell its stake in the
restaurant chain if performance fails to improve
Some US Weapon , Shipments to Israel Continue , Amid Invasion of Rafah.
NBC reports that United States officials say that
shipments of military assistance have continued despite
concerns of Israel's invasion of Rafah in southern Gaza.
NBC reports that United States officials say that
shipments of military assistance have continued despite
concerns of Israel's invasion of Rafah in southern Gaza.
Officials familiar with the matter claim that
shipments of both offensive and defensive
weapons have been sent to Israel in recent days.
The news comes after the Biden administration threatened
to suspend arms shipment over Israel's plan to invade
Rafah, where over 1 million Palestinians have taken refuge.
The news comes after the Biden administration threatened
to suspend arms shipment over Israel's plan to invade
Rafah, where over 1 million Palestinians have taken refuge.
In response to the U.S. threat, Israeli Prime Minister
Benjamin Netanyahu vowed that his country would
"stand alone" in order to pursue its goal of eliminating Hamas.
In response to the U.S. threat, Israeli Prime Minister
Benjamin Netanyahu vowed that his country would
"stand alone" in order to pursue its goal of eliminating Hamas.
Last week, the Biden administration halted an arms
shipment of bombs that were intended for Israel. .
Last week, the Biden administration halted an arms
shipment of bombs that were intended for Israel. .
NBC reports that with no ceasefire between Hamas and Israel in sight, Israeli forces have continued its bombardment of Rafah amid ground operations. .
According to the United Nations, over 100,000 people have fled from eastern Rafah since Israel issued evacuation orders earlier this week. .
According to the United Nations, over 100,000 people have fled from eastern Rafah since Israel issued evacuation orders earlier this week. .
Aid groups, along with doctors and local officials, have expressed
growing concern that hospitals in Rafah have already been
overwhelmed ahead of a feared full-scale Israeli assault. .
For five days, no fuel and
virtually no humanitarian aid
entered the Gaza Strip,
and we are scraping
the bottom of the barrel, Hamish Young, UNICEF Senior Emergency
Coordinator in the Gaza Strip, via NBC.
According to local health officials, over 34,900 people
in Gaza have been killed since Israel launched its
assault following the October 7 Hamas attacks. .
According to local health officials, over 34,900 people
in Gaza have been killed since Israel launched its
assault following the October 7 Hamas attacks.
Credit: Wibbitz Top Stories Duration: 01:31Published
Massive Recall Follows , Discovery of Rat Parts, in Japanese Sliced Bread.
NBC reports that a brand of sliced bread in
Japan has been recalled after rat parts were
discovered in the popular product. .
NBC reports that a brand of sliced bread in
Japan has been recalled after rat parts were
discovered in the popular product. .
According to Pasco Shikishima Corp., 104,000 packs of
its super-fermented “chojuku” bread, produced at a
factory west of Tokyo, have been impacted by the recall. .
According to Pasco Shikishima Corp., 104,000 packs of
its super-fermented “chojuku” bread, produced at a
factory west of Tokyo, have been impacted by the recall. .
The company said that the line , “will be suspended for the time being to investigate
the cause and to strengthen countermeasures.”.
The company said that the line , “will be suspended for the time being to investigate
the cause and to strengthen countermeasures.”.
We deeply apologize for the serious inconvenience and trouble this has caused to our customers, suppliers, and other concerned parties, Pasco Shikishima Corp., via NBC.
The company added that there have been no
reports of customers falling ill as a result
of eating contaminated products.
NBC reports that the news comes amid
a string of food safety scares in Japan. .
In March, Kobayashi Pharmaceutical ordered
a recall of three dietary supplements containing
red yeast rice that had been linked to over
100 hospitalizations and five deaths. .
In 2023, police made multiple arrests linked
to a wave of pranks dubbed "sushi terrorism.".
The so-called acts of "sushi terrorism" involved diners at conveyor
belt restaurants engaging in unhygienic behavior like licking cups
before returning them or contaminating food with hand sanitizer. .
The so-called acts of "sushi terrorism" involved diners at conveyor
belt restaurants engaging in unhygienic behavior like licking cups
before returning them or contaminating food with hand sanitizer.
Credit: Wibbitz Top Stories Duration: 01:30Published
A show set in the same universe as 'The Office' has received a series order from Peacock. The project is co-created by 'The Office's' Greg Daniels and 'Nathan For You' co-creator Michael Koman. Like NBC's former Emmy-winning comedy starring Steve Carell, the series will also be a mockumentary. It features Domhnall Gleeson and Sabrina Impacciatore leading the ensemble cast. Production will begin in July.
Credit: The Hollywood Reporter Duration: 01:16Published
NBC has handed out a series order to the multicamera comedy 'Happy's Place,' starring Reba McEntire. 'Happy's Place' sees McEntire play Bobbie, a woman who inherits her father's restaurant and is less than thrilled to discover that she has a new business partner in the half-sister she never knew she had. The series reunites McEntire with the team behind her 2001 sitcom, 'Reba,' including showrunner Kevin Abbott, and co-star Melissa Peterman.
Credit: The Hollywood Reporter Duration: 01:38Published
Walmart Reverses Course, , Closes Down Its , Walmart Health Division.
NBC reports that Walmart has announced
it will close all 52 of the doctor-staffed
health clinics the company operates.
The announcement comes as
part of the company's decision to
shut down its Walmart Health Initiative.
Clinics that will close down are located in
Arkansas, Florida, Georgia, Illinois and Texas. .
On April 30, the company also said it would
begin winding down its virtual care service.
The decision to end the Walmart Health Initiative
will not reportedly impact Walmart
pharmacies and vision centers.
Walmart said that it will work to direct current patients
to other providers covered by their insurance
networks to ensure they continue to receive care.
NBC reports that the news comes as a swift
reversal of Walmart's plan to expand its number
of doctor-staffed clinics to 70 by the end of 2024.
Through our experience managing
Walmart Health centers and
Walmart Health Virtual Care,
we determined there is
not a sustainable business
model for us to continue, Walmart statement, via NBC.
Other nontraditional health care
providers have also been forced to
reconsider their plans in recent years. .
Last month, Walgreens announced that it would
close 140 of the company's primary care clinics,
along with plans to shut down 20 more.
Credit: Wibbitz Top Stories Duration: 01:30Published
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