- Maersk shared in a statement that “Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated”. Today, August 12th, Maersk raised its 2022 profit guidance for the second time after beating their quarterly revenue expectations. This is due to congested global supply chains boosting freight rates for what was longer than expected.
Source: CNBC. Read the full article here.
- Recently, we shared that McDonald’s has ended their test of McPlant which uses Beyond Meat’s plant-based patties. According to a report by CNBC, since McDonald’s has cut this item from its menu, shares of Beyond Meat fell 6%. This shows the power that McDonald’s can have on the brands that they partner with when they offer new menu items.
Source: QSR Web. Read the full article here.
- According to a report by The NPD Group/CREST, cold brew coffee orders at quick-service restaurants increased 27% in the 12 months ending April 2022. This increase led to a total of 373 million servings! For quick-service restaurants to continue succeeding in the cold coffee market, they must innovate and create intriguing limited time offers for their customers.
Source: QSR Magazine. Read the full article here.