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Starbucks sees traffic growth for first time in 2 years
Starbucks reports mixed results for Q1 2026, despite traffic growth for the first time in two years. The company’s CEO and chairman, Brian Niccol, said Starbucks’ Q1 results are thanks to its ‘Back to Starbucks’ strategy, which is working ahead of schedule. “It's great to see the sales momentum driven by more customers choosing Starbucks more often, and this is just the beginning,” he said. Global comparable store sales increased by 4%, driven by a 3% growth in comparable transactions and a 1% rise in average ticket. In the U.S alone, comparable store sales increased by 4%. Niccol said this was driven by demand for its holiday offerings, with this season's holiday menu launch being the best ever for the company’s North American business. The company also experienced a 7% growth in the Chinese market. During the quarter, Starbucks announced its plans to form a joint venture with Boyu Capital to run its business in China. “This partnership will help us expand into more cities, deliver exceptional coffee experiences, create new career opportunities for partners, and strengthen Starbucks’ position as a global brand for long-term growth,” Niccol said on the company’s earnings conference call. Starbucks’ revenue
Food
The Founders: Leveraging Aussie products
With Australian companies looking to enter the booming Asian market, RooLife prides itself on having the expertise to make this shift possible. The company has already helped multiple companies be successful in the Chinese market. CEO and managing director, Bryan Carr, says this has been possible through RooLife’s knowledge of what sells best and how the Chinese market differs from the West. “We're very well entrenched and understand the market,” he tells Azzet. “I think that's probably the advantage that we have, is that many businesses look to go into markets like China, but they take their Western or home market thinking.”How does China differ from the West?When transferring a business's services to the Chinese market, Carr says they typically have to start from ground zero with brand recognition. “What we've identified is that if there's a really well-known brand in Australia, and you take it to China, it may as well be a completely unknown brand,” he says. “You still have to do the same work, the same sort of trust and you know, market entry time requirements.” Due to this, Carr says when RooLife is propelling a company into the Chinese market, they often treat it like a brand-new company. “We operate
Food
Jim Beam pauses production at its main distillery
Bourbon maker Jim Beam will pause production at its distillery on 1 January for all of 2026, following rising inventory. In a statement, the company said it would close its distillery in Kentucky until it took the “opportunity to invest in site enhancements”. “We are always assessing production levels to best meet consumer demand and recently met with our team to discuss our volumes for 2026,” it said. The decision comes as whiskey distillers in the U.S. face uncertainty around President Donald Trump’s trade tariffs, as well as declining rates of alcohol consumption. Kentucky has a record high inventory of 16.1 million aging barrels of bourbon in its warehouse, according to the Kentucky Distillers Association. Distillers are paying for that supply, since the state charges taxes on aging barrels of spirits. According to the trade group, Kentucky distillers paid US$75 million in aging barrel taxes this year, an increase of 27% from 2024. While the Jim Beam distiller will pause for a year, its parent company, Suntory Global Spirits, will continue operations at its Fred B. Noe craft distillery in Clermont and Booker Noe distillery in Boston, Kentucky. “We are always assessing production levels to best meet cons
Food
Coca-Cola’s Costa exit faces valuation hurdles
United States soft drinks company Coca-Cola, is scrambling to save its Costa Coffee sale after a pricing standoff put the deal on the brink, forcing urgent weekend talks with private equity suitor TDR Capital. Coca-Cola’s plan to sell Costa Coffee is wobbling, with negotiations threatening to fall apart just days after TDR Capital was named preferred bidder. While TDR was selected as Coca-Cola's preferred bidder last week, talks with the company and its advisers at Lazard have stumbled over the price of a deal that is understood to include the soft drinks giant retaining a small stake in the British coffee chain. According to the Financial Times, the two sides are locked in last-minute discussions as they try to bridge a gap over valuation. At the heart of the dispute is price, with Coca-Cola understood to be chasing around £2 billion (A$4.01 billion) for Costa. This is considered a tough sell given that the business has struggled to keep up with cheaper rivals and independent cafés while battling higher costs. The current proposal would leave Coca-Cola holding a minority holding, a lever that could yet be pulled to get the deal across the line. If talks fail, Coca-Cola is expected to decide next week whethe
Food
Founders: CINCiN making a name in the alcohol market
CINCiN beverages entered the market around a year ago with a focus on making a lighter, high-quality alternative to traditional drinks. The drinks company was founded by siblings Julian and Claudette van den Berg alongside their father Frank, and the drinks finally launched on 12 December 2024. Entering into a volatile and competitive market, the family business was able to succeed in its first year due to its ability to follow alcohol trends and the founder’s business knowledge.Family affairWhile creating the business has been an endeavour years in the making, Julian says, he, Claudette and Frank took a leap of faith last year, quitting their jobs and diving headfirst into the business. Each member of the family brings different business knowledge to the table, from Frank with his manufacturing knowledge, Claudette with her marketing and branding expertise, to Julian’s experience with startups, focusing on customer experience. “I think we all come from experience-led backgrounds where it's all about thinking about the end journey and the user journey,” Julian tells Azzet. Julian says this has always been a dream for the family and that they took their time bringing the drinks to the market. “It was about a year

Food
Coca-Cola names COO Henrique Braun as new CEO
Coca-Cola COO Henrique Braun will take over as CEO in March 2026, the company said, as it works to sustain its momentum amid lukewarm demand for soft drinks. Braun has been COO and executive vice president since January 2025. Current CEO James Quincey, who has held the role for nine years, will become Coca-Cola’s executive chairman. “James will continue to be very active in the business through his role as Executive Chairman. We are confident that Henrique Braun will build on the company’s existing strengths to unlock more growth opportunities and increase the power of the incredible Coca-Cola system,” said Coca-Cola’s lead independent director David Weinberg. “I will focus on continuing the momentum we’ve built with our system. We’ll work to unlock future growth in partnership with our bottlers. I’m excited about the future of our business and see huge opportunities in a fast-changing global market,” said Braun. Braun was previously the company’s president of international development and president of its Latin America unit. Both Braun and Quincey joined Coca-Cola in 1996. Quincey was also COO and president of the company’s Europe group before becoming CEO. The board will nominate Braun to stand for election as
Food
San Francisco sues companies over ultra-processed food
San Francisco has sued food companies including Kraft Heinz, Coca-Cola, and Nestle USA, saying they knowingly sold harmful processed products. The lawsuit also covers Mondelez, Post Holdings, Pepsi, General Mills, Kellogg, Mars, and ConAgra, and is the first government suit of its kind in the United States. “These companies created a public health crisis with the engineering and marketing of ultra-processed foods,” said San Francisco City Attorney David Chiu. “Recent surveys show Americans want to avoid ultra-processed foods, but we are inundated by them. These companies engineered a public health crisis, they profited handsomely, and now they need to take responsibility for the harm they have caused.” San Francisco’s lawsuit, filed in the city’s Superior Court, alleges these companies’ sales and marketing tactics violate California’s unfair competition laws and public nuisance statutes. It seeks financial penalties and an order preventing further deceptive marketing. According to the suit, ultra-processed foods have been disassembled, chemically combined with additives, and reassembled. They often include artificial colours, flavour enhancers, emulsifiers, or sweeteners. Around 70% of the U.S. food supply is ult
Food
KFC parent serves up growth despite rising living costs
Collins Foods reported record revenues, margin expansion and earnings growth for the first half of the 2026 financial year (H1 FY26) as its business continued to grow in its Australian domestic market, along with Europe, despite cost-of-living challenges. The quick service restaurant operator said statutory net profit after tax (NPAT) rose 12.7% to $27.2 million and underlying NPAT climbed 29.5% to A$30.8 million (US$20.1 million) on revenue, which grew 6.6% to a record $750.3 million (HY25: $703.5 million) in the half year ended 12 October 2025. Underlying earnings before interest, tax, interest, depreciation and amortisation (EBITDA) rose 11% to $113.9 million, helped by productivity gains, while stable depreciation supported a 20% jump in underlying EBIT to $63.0 million. Directors declared a fully franked interim dividend of 13 cents per share to be paid on 5 January to shareholders registered on 8 December, up from 11 cents in H1 FY25. The company said Taco Bell delivered EBITDA of $0.8 million on slightly lower revenue as it continued discussions with Taco Bell International about transitioning the business in Australia to new ownership.Source: Collins FoodsCollins Foods is targeting year-on-year group underlying
Food
Menulog to exit Australian market after 20 years
Menulog has announced it is shutting down all operations in Australia, after two decades of business. The statement, released today by Just Eat Takeaway, cited “challenging circumstances” as the reason for wrapping up its business here. Approximately 120 employees will be impacted by the closure, but they will be provided redundancy packages, and eligible couriers will receive a four-week “voluntary payment”. “Today is a tough day for the Menulog business, and I would like to reassure everyone this decision was not taken lightly,” said the managing director for Menulog, Morten Belling. Our priority now is to support our customers, couriers and partners. This is why we are providing everyone a two-week transition period, in which customers can redeem unused vouchers and credits." The Menulog platform will remain operational until midnight on 26 November.