Food

Food
Domino's pizza exceeds expectations, shares up 3.9%
Domino's Pizza surpassed expectations for quarterly profit and United States same-store sales. This was driven by promotions and new menu items as consumers tighten their budgets in a time of economic uncertainty. “In the U.S., we drove positive order counts behind our Best Deal Ever promotion and stuffed-crust pizza product innovation for the third quarter,” Domino’s CEO Russell Weiner said. “Seeing our strategy being executed at such a high level gives me the confidence that we will continue to win and take QSR pizza market share around the world in 2025 and beyond. “We have never had more tools to drive long-term value creation for our franchisees and shareholders.” The pizza giant posted earnings per share of US$4.08, exceeding analyst expectations of US$3.96. Revenue also beat forecasts, coming in at US$1.15 billion. The company saw global retail sales rise by 6.3%, when excluding foreign currency impact, with 214 stores being opened during Q3 2025. Domino's revenues also grew 6.2% year-over-year, with the company attributing this to higher supply chain revenues and higher U.S. franchise royalties and fees and advertising revenue. While U.S. same-store sales grew 5.2%, international same-store sales on
Food
PepsiCo beats estimates, names new CFO
PepsiCo beat estimates of revenue and earnings per share last quarter amid sales growth in its international food businesses and named Walmart United States finance head Steve Schmitt as Chief Financial officer (CFO). Revenue for the global food and beverage company was US$23.94 billion, up from $23.32 billion year-over-year, and higher than LSEG estimates of $23.83 billion. Earnings per share were $2.29, down from $2.31 but beating estimates of $2.26. “Our reported net revenue growth accelerated and reflects the resilience of our international business, improved momentum within North America Beverages and the benefits of our portfolio reshaping actions,” PepsiCo chair and CEO Ramon Laguarta said. “As we look ahead to the balance of this year and beyond, our top priorities are to accelerate growth and aggressively optimise our cost structure. To accomplish this, we are introducing a strong pipeline of innovation to accelerate portfolio transformation, continuously sharpening our price pack architecture to provide good value to consumers, and right sizing our entire cost base to help fund our activities.” Operating profit was $3.57 billion last quarter, down from $3.87 billion. PepsiCo’s cost of sales grew to $11.
Food
Albanese courts LuLu in Coles-Woolies shake-up
Australian Prime Minister Anthony Albanese gave shareholders in the country’s two ASX-listed supermarket giants, Coles (ASX: COL) and Woolworths (ASX: WOW), a rude wake-up call after his recent political broadside that could crack open their cosy and longstanding duopoly over the sector. With market shares of 38% and 29% respectively, Woolworths and Coles hold a collective market share of around 67% of total supermarket sales nationally. However, that market share appears to be under threat due to both reputational damage and the potential entrée of new global players within Australia’s supermarket landscape.On the nose with shoppersIn the wake of recent revelations that see Coles and Woolworths sharing equal top spot in Roy Morgan’s survey of Australia’s most distrusted brands, Albanese’s invitation to Indian-origin UAE billionaire Yusuff Ali to bring his LuLu Hypermarkets to Australia couldn’t have come at a worse time. Albanese’s comments follow a review by the competition watchdog in March, which found there was "limited incentive" for Coles and Woolworths to compete on price because of their market dominance. However, both Coles and Woolworths have denied accusations of price gouging. What also bodes well for p
Food
Starbucks to take US$1bn hit from major restructuring
Shares in Starbucks Corporation were trading 1.18% lower overnight after the coffeehouse chain revealed plans to close hundreds of U.S. and Canadian stores and lay off 900 non-retail employees as it focuses on a US$1 billion (A$1.52 billion) restructuring turnaround. This latest round of layoffs follows the sacking of 1,100 corporate workers earlier this year, with Starbucks ending 2024 with around 16,000 employees who work outside store locations. The number of company-operated stores in North America will decline by about 1% in FY25, which is expected to translate to roughly 500 gross closures. The company expects to incur around $150 million in employee separation costs, plus around $850 million in restructuring charges related to the store closures. The company said it had reviewed and identified stores where it would be “unable to create the physical environment our customers and partners expect, or where we don’t see a path to financial performance”. While Starbucks plans to start growing its footprint again in FY26 as part of CEO Brian Niccol’s “Back to Starbucks” transformation, the company plans to end FY25 with almost 18,300 North American locations, including both company-operated and licensed cafes.
Food
Amazon plans to close 19 grocery stores in the UK
Amazon plans to close its 19 United Kingdom grocery stores in less than five years, as the company moves towards online grocery shopping methods. Alongside the closures, the e-commerce giant plans to bring five new Whole Foods stores to the UK by the end of 2026, bringing the total to 12 stores. However, the Fresh stores offered cheaper prices and more mass-market items compared to Whole Foods, which Amazon acquired for US$13.7 billion in 2017. The changes also include more online shopping options for customers, with plans to allow 80% of UK Prime members to be able to shop with at least one of their grocery partners. These partners include Morrisons, Co-op, Iceland and Gopuff. The company also said they have launched a consultation with grocery store employees regarding the proposed closures of Amazon Fresh UK stores. Amazon said it plans to offer redeployment opportunities to as many affected employees as possible. “We’ll be working hard to support any potentially impacted teams throughout these planned changes and are deeply grateful for their dedication,” Amazon UK country manager John Boumphrey said. “If the proposal moves forward, we’ll support our employees by offering alternative employment opportunities

Food
Heineken pays US$3.2bn for Central American beer empire
Heineken NV is writing a hefty cheque - US$3.2 billion to be exact - for Florida Ice and Farm Company's (FIFCO) beverage empire across Central America. The deal brings Costa Rica's century-old Imperial beer brand into Heineken's stable and ownership of fast-growing businesses in Panama and Nicaragua. While an 11.6x EV/EBITDA multiple has some analysts raising eyebrows, the Dutch brewer is betting big on geographic diversification as European beer territories continue their sluggish performance. As part of the deal, Heineken will secure >300 proximity retail outlets spanning Costa Rica, increasing its direct-to-consumer capabilities in the region. “By integrating FIFCO’s iconic brands, deep market expertise, and exemplary sustainability credentials, we are accelerating our EverGreen strategy and entering new profit pools across Central America,” Heineken chair Dolf van den Brink said.Premium purchase, volatile trendsThe takeover sits above current industry benchmarks, and Heineken's own shares trade at a 9.1x EBITDA, meaning the company is paying a ~28% premium to its own valuation. Recently, beverage companies have been trading at median EBITDA multiples - 9.6x in 2024 - down from 14.7x in 2023, reflecting a broa
Food
Chipotle announces first expansion into Asian market
United States Mexican food chain, Chipotle, is set to expand into the Asian market by opening restaurants in South Korea and Singapore in 2026. The locations will be opened in collaboration with SPC in the burrito chain's attempt to broaden its global reach. "With a rapidly evolving dining-out business, fueled by preferences for variety and convenience, expanding into Asia presents an incredible growth opportunity for Chipotle," Scott Boatwright, Chief Executive Officer of Chipotle, said. In the announcement, the company said Chipotle already had cultural relevance in Singapore and South Korea due to endorsements from major K-pop stars in 2021 and 2023. "Real food prepared fast is in high demand in these markets and with notable brand awareness among consumers, we see potential for strong adoption out of the gate,” Boatwright said. "Given the familiarity of this iconic brand among Koreans and Singaporeans, and their passion for exceptional culinary experiences, these two markets are ideal entry points for Chipotle in Asia," Heesoo Hur, Executive Vice President and owner of SPC Group, said. Chipotle currently has 3,800 restaurants worldwide, with 98% in the U.S.. Most of the company’s current international restaur
Food
Kraft Heinz spills the beans on unsuccessful merger
Kraft Heinz Company will split into two independent, publicly-traded companies, unwinding a merger 10 years ago that failed to live up to expectations. The food and beverage giant said one company would focus on groceries and the other on sauces and spreads, with the names to be determined ahead of the completion of the transaction in the second half of 2026. Executive Chair Miguel Patricio said Kraft Heinz’s brands were iconic and beloved, but the complexity of its structure made it challenging to allocate capital effectively, prioritise initiatives and drive scale in the most promising areas. “By separating into two companies, we can allocate the right level of attention and resources to unlock the potential of each brand to drive better performance and the creation of long-term shareholder value,” Patricio said in a press release. The separation is intended to be tax-free for Kraft Heinz and its shareholders with clear near-term opportunities to mitigate a substantial portion of the dis-synergies, which it estimated at up to US$300 million. The company said the current dividend level was expected to be maintained and management was targeting capital structures to maintain investment-grade ratings. It described
Food
Collins Foods confirms forecast as KFC sales grow
Collins Foods shares jumped 6.6% by 12:15 pm AEST (2:15 am GMT) on Tuesday as the company reaffirmed its profit guidance for the 2026 financial year (FY26) after providing a trading update for the first 18 weeks of the new year. The quick service restaurant operator said sales rose 6.7% between 28 April and 31 August 2025 compared with the prior corresponding period, driven by same store sales growth (SSSG) in all markets for its KFC fried chicken stores. KFC sales grew 5.1% in Australia, 4.8% in the Netherlands and 8.4% in Germany with SSSG of 2.3%, 1.2% and 5.8% in each of these markets, respectively. The company reaffirmed FY26 guidance, which was for year-on-year underlying net profit after tax percentage growth in the low to mid-teens. “Collins Foods’ positive same-store sales momentum, which began in the second half of FY25, has continued into the early periods of FY26, with sales growth accelerating in all markets,” Managing Director and CEO Xavier Simonet said in an ASX announcement. He said that although same-store sales comparatives would become more challenging as the year progressed, the stronger performance reflected an enhanced focus on the customer experience and operating disciplines, supported by su