Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

A Chipotle restaurant and signage is seen on February 09, 2022 in Miami, Florida. Joe Raedle | Getty Images Chipotle Mexican Grill on Tuesday reported weaker-than-expected quarterly earnings and revenue, signaling that its price hikes may finally be alienating customers. In October, CEO Brian Niccol said the company saw “minimal resistance” to higher prices for its burrito bowls and tacos, although transactions during the third-quarter declined 1%.  Chipotle shares fell more than 5% in extended trading. Here’s what the company reported for the fourth quarter, compared with what Wall Street…

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Delta raises employee pay 5%, second increase in a year

Nurphoto | Nurphoto | Getty Images Delta Air Lines is raising employee pay 5%, the second time its lifted staff pay in less than a year as a sharp rebound in travel boosts the carrier’s profits and the U.S. labor market remains tight. Delta raised employee pay 4% in May, the first increases since before the pandemic. “Considering the depths of losses we suffered during the pandemic, including a $1 billion first quarter loss just last year, this is truly a remarkable achievement,” CEO Ed Bastian wrote in a staff…

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Used vehicle prices swing higher amid unseasonably high demand in January

A man shops for used vehicles at the Toyota of Deerfield dealership in Deerfield Beach, Florida. Getty Images DETROIT – Stronger-than-expected demand for used vehicles last month led to the largest increase in wholesale values since late 2021, according to new data Tuesday from Cox Automotive. The automotive data firm’s Manheim Used Vehicle Value Index was down 12.8% in January from inflated levels a year earlier but was up 2.5% compared with December. It was the largest month-over-month increase since a 3.9% jump from October to November 2021. The larger-than-expected…

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Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy

A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond will live to see another day – at least for now.  The beleaguered home goods retailer is expecting to receive more than $1 billion in equity from a Hail Mary stock offering it hopes will stave off bankruptcy and liquidation, the company announced Tuesday.  Bed Bath will receive $225 million in the offering up front plus an additional $800 million…

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What will TV look like in three years? These industry insiders share their predictions

Illustration by Elham Ataeiazar The media industry is in the middle of change. There’s little doubt legacy cable TV will continue to bleed millions of subscribers each year as streaming takes over as the primary way the world watches television. Still, the details of what’s about to happen to a transitioning industry are unclear. CNBC spoke with more than a dozen leaders who have been among the most influential decision-makers and thinkers in the TV industry over the past two decades to get a sense of what they think will…

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More than half of all ‘Avatar: The Way of Water’ tickets have been for 3D showings

Avatar: The Way of Water Courtesy: Disney Co.  As Disney and James Cameron’s “Avatar: The Way of Water” climbs its way up the box office ladder — as of Monday, it was just shy of becoming the third-highest grossing film of all time — movie theater analysts are spotting an important trend in ticket sales. While moviegoers have been gravitating towards premium cinema experiences in the wake of the pandemic, “The Way of Water” has easily outpaced the competition. Released in mid-December, the movie has drawn significantly more patrons to…

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Hispanic dialysis patients face 40% higher risk of staph infection than whites, CDC says

A COVID-19 patient using a ventilator rests while his blood goes through a kidney dialysis machine (L) on the Intensive Care Unit (ICU) floor at the Veterans Affairs Medical Center on April 21, 2020 in the Brooklyn borough of New York City. Robert Nickelsberg | Getty Images Hispanic dialysis patients face a 40% higher risk of developing a staph bloodstream infection compared with whites, underscoring economic and racial disparities in the U.S. health-care system, according to new data released Monday by the Centers for Disease Control and Prevention. Adults on…

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FAA proposes more than $1 million fine on United Airlines over preflight safety checks

United Airlines Boeing wide body 777-200 aircraft as seen during take off and flying phase, passing in front of the air traffic control tower while the plane is departing from Amsterdam Schiphol Airport AMS towards Houston IAH in the United States of America as flight UA21.  Nicolas Economou | Nurphoto | Getty Images The Federal Aviation Administration said Monday that it is proposing a more than $1.1 million penalty against United Airlines for allegedly failing to perform required fire-system safety checks on its Boeing 777s. United didn’t immediately comment. The…

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Mediterranean restaurant chain Cava confidentially files for an IPO

A logo outside of a Cava restaurant location in Chantilly, Virginia. Kristoffer Tripplaar | Sipa USA | AP Mediterranean chain Cava announced Monday that it has confidentially filed for an initial public offering. It’s the first restaurant company so far this year to take the first step toward a public market debut, following a drought of IPOs in 2022. Cava Group was founded in 2006 and opened its first fast-casual location in 2011, modeling its build-your-own Mediterranean meals after the formula made popular by Chipotle Mexican Grill. In 2018, it…

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U.S. plans to stop buying Covid shots for the public this fall. Here’s what that means

A pharmacist delivers a COVID-19 booster dose at a Chicago CVS store in October. Antonio Perez | Tribune News Service | Getty Images The U.S. will stop buying Covid shots at reduced price for the entire country and shift vaccine distribution to the private market as soon as early fall, shifting the cost to U.S. insurers and uninsured Americans who stand to lose access to the free vaccines. Dr. Ashish Jha, the White House Covid response coordinator, said in an an interview with UCSF Department of Medicine on Thursday that…

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