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Ruth's Hospitality Group (RUTH)
Ruth's Hospitality Group announced today that it has set the terms for its previously announced common stock rights offering. Under the terms of the rights offering, the Company will distribute at no charge to the holders of its common stock as of 5:00 p.m., New York City time, on January 20, 2010 one transferable subscription right for each share of Company common stock then owned. Each subscription right will entitle the holder to purchase 0.579232 shares of common stock at an exercise price of $2.50 per share.
Jan 15 · 10:14:00 AM · Source: Company Press Release
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by Rich Pike
Starbucks (SBUX)
Seattlepi.com is reporting that Starbucks Corp. says it plans to close a 130-worker call center at its Seattle headquarters, using an outside company in Albuquerque, N.M., to handle customer feedback.
Starbucks spokeswoman Stacey Krum characterized the change as an effort to better manage feedback, rather than a cost-cutting move. The Seattle company did not disclose details of its arrangement with Sitel.
Krum says the company hopes to find jobs for the affected employees elsewhere at Starbucks. If they are laid off, they will receive severance pay and help in finding another job.
Jan 15 · 9:56:00 AM · Source: Seattlepi.com
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by Rich Pike
McDonald's (MCD)
Chinaknowledge.com is reporting that McDonald's plans to redecorate 80% of its Chinese chain stores within three years, repainting and replacing chairs and lights to create a café-like atmosphere. Zhou Weicheng, vice president of McDonald's (China), said that the firm will redecorate more than 50% of its 1,100 restaurants in China by the end of this year, the 20th year since it entered the Chinese market. In addition, McDonald's will soon offer free wireless internet service in its restaurants across China
Currently, youth are the major consumers of McDonald's items; the fast food chain hopes to attract customers of different ages, said Zhou. This year, McDonald's intends to open 135 stores in China. Of its existing restaurants, 80% are open 24 hours a day.
Jan 15 · 9:51:00 AM · Source: Chinaknowledge.com
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by Rich Pike
Granite City Food & Brewery (GCFB)
Granite City Food & Brewery announced that its one-for-six reverse stock split was completed effective on the close of business on January 13, 2010. Trading of the Company's common stock on the NASDAQ Capital Market will begin on a split-adjusted basis at the open of trading on January 14, 2010.
Granite City Food & Brewery Ltd. is a Modern American upscale casual restaurant chain that operates 26 restaurants in 11 states. The menu features affordable yet high quality family favorite menu items prepared from made-from-scratch recipes and served in generous portions.
Jan 14 · 2:19:00 PM · Source: Company Press Release
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by Rich Pike
Chipotle Mexican Grill (CMG)
Wells Fargo upgraded Chipotle Mexican Grill from Underperform to Perform.
Jan 14 · 2:09:00 PM
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by Rich Pike
Buffalo Wild Wings (BWLD)
MKM Partners upgraded Buffalo Wild Wings from Neutral to Buy.Price target was raised from 41 to 52.
Jan 14 · 1:20:00 PM · Source: StreetInsider.com
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by Rich Pike
Starbucks (SBUX)
Starbucks announced it will introduce 10 new Tazo® Full Leaf teas as the exclusive
teas sold at Starbucks company operated and licensed stores across the U.S. and Canada. The new Tazo® Full Leaf teas feature blends of whole tea leaves, larger cut spices and botanicals and are packaged in tea sachets, delivering on what customers have been asking for – a more premium tea experience.
The 10 new Tazo® Full Leaf teas include two new blends and eight returning customer favorites, now in full leaf form. The new teas will be brewed and served at Starbucks stores at the suggested retail price of $1.85-$2.35 depending on size and region, and will be available in 15-count tins for at-home brewing at the suggested retail price of $6.95.
“Many tea drinkers find full leaf teas have a more delicate and subtle taste experience,” said Stuart Johnson, director, Tazo Tea beverages. “By making these available, we think the new tea options deliver exactly on what our customers have been asking us for, and that’s an enhanced, more dimensional tea experience.”
Jan 14 · 12:58:00 PM · Source: Company Press Release
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by Rich Pike
Benihana (BNHNA)
Benihana announced two big high level management changes. Juan C. Garcia has resigned as President and Chief Administrative Officer. The Board of Directors has eliminated the position of Chief Administrative Officer as part of an overall plan to reduce corporate overhead. CEO Richard C. Stockinger has been appointed to the additional role of President.
Also, the Board of Directors has appointed Gene R. Baldwin as interim Chief Financial Officer, replacing Jose Ortega who has resigned as Vice President - Finance, Chief Financial Officer, effective immediately.
The company press release included this quote from CEO Mr. Stockinger - "We wish both Jose and Juan well in their future endeavors and thank them for their years of service at Benihana." That can usually be interpreted as "don't let the door hit you on the way out."
Jan 14 · 7:26:00 AM · Source: Company Press Release
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by Rich Pike
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