August 4, 2004
* Outback Steakhouse Inc. said a Bankruptcy Court had approved its bid to acquire property rights of Irvine-based Prandium Inc.'s Chi-Chi's chain for $42.5 million. * Discount retailer Kohl's Corp. said it planned to open 11 more stores in Northern California by October. * Wal-Mart Stores Inc. said it would delay building an Atlanta-area Supercenter while considering residents' concerns about the development. * A judge approved the sale by Spiegel Inc.
December 30, 2004 |
The maker of a new corking technology is suing Constellation Brands Inc. unit Robert Mondavi, alleging that the winemaker backed out of a deal to use the closure system on its wines. Gardner Technologies is "facing financial ruin" because Mondavi abandoned an exclusive program to supply customers such as Whole Foods Market Inc. and Outback Steakhouse Inc. with wines using Gardner's MetaCork technology for a test period of several months, according to court papers filed this month. Napa, Calif.
December 7, 2001 |
CKE Restaurants Inc. slashed its losses for the third quarter and predicted Thursday that it will return to profitability early next year, underscoring rising optimism about the restaurant industry. The stock lost ground Thursday after the announcement, but has still more than tripled this year. Earlier this week, the shares hit a 52-week high, a peak also achieved by several other restaurant chains amid projections of an economic recovery by midyear.
January 14, 2004 |
Investor concerns that consumers would shun beef after last month's discovery of the first U.S. case of mad cow disease appear to have evaporated as shares of steakhouses and hamburger chains have snapped back to their previous levels. In the days after the Dec. 23 announcement, restaurant stocks fell hard on fears that meat from a cow with the deadly brain-wasting disease, formally known as bovine spongiform encephalopathy, had entered the food chain.
May 21, 2003 |
Shares of big U.S. hamburger chains, other restaurant operators and meat processor Tyson Foods Inc. tumbled Tuesday after the disclosure of the first case of "mad-cow" disease in Canada in a decade. At the same time, shares of Hercules, Calif.-based Bio-Rad Laboratories Inc. -- which sells veterinary test kits for the disease -- soared to a record high. Investors, fearful that consumers will shy away from eating beef because of the report, sent McDonald's Corp. shares down $1.21, or 6.
December 30, 2003 |
Cattle prices fell sharply Monday for a third consecutive trading session as fallout from the first U.S. case of "mad cow" disease continued to roil the $27-billion cattle industry. At the Chicago Mercantile Exchange, cattle contracts for delivery in December through April all fell 5 cents per pound -- the expanded daily trading limit. February cattle closed at 81.175 cents, down more than 10% since U.S. officials announced Dec. 23 the diagnosis of deadly "mad cow" disease in a 6 1/2-year-old Holstein dairy cow in Mabton, Wash.