Unprecedented Events Help to Evolve the Food and Beverage Industry

- FinancialBuzz.com News Commentary

NEW YORK, Oct. 14, 2020 /PRNewswire/ -- The restaurant, food & beverage market is influenced by a continuous change in tastes and trends of consumers. A good example of that is the rapid expansion of online delivery services, such as Uber Eats, Swiggy, Zomato, DoorDash and Deliveroo, which has gone in in the past few years, and even more so during the pandemic. Moreover, development of e-commerce/online platforms and on-the-go food services coupled with innovations in packaging, introduction of low-fat beverages, gluten free products, and more are also contributing significantly to the growth of the market. And, according to data published by Allied Market Research, the fast-food market size was valued at USD 647.7 Billion in 2019 and is estimated to reach USD 931.7 Billion by 2027 while growing at a CAGR of 4.6% during the forecast period. Urban Tea, Inc. (NASDAQ: MYT), Shake Shack Inc. (NYSE: SHAK), Yum! Brands, Inc. (NYSE: YUM), Starbucks Corporation (NASDAQ: SBUX), Restaurant Brands International Inc. (NYSE: QSR)

As a result of the pandemic, online sales have become the new normal. A report by MiQ indicates that online orders for pickup and delivery are thriving, with stable increase rates, particularly for casual dining and quick-serve or fast-food restaurants, where site visits and purchases have been increasing. "I think restaurateurs are going to have to think increasingly more systemically about if food in the home is going to become much more the norm," said Oliver Wright, Global Lead of Accenture's Consumer Goods and Services Practice according to CNBC. "In terms of what we eat and where we eat, it's probably going to be the biggest shakeout we've seen in our adult lifetimes."

Urban Tea, Inc. (NASDAQ: MYT) announced breaking news that, "CROP CIRCLE, its casual street food restaurant in New York City, has witnessed a 25% monthly growth in sales from August 2020 to October 2020.

As previously announced, Urban Tea now owns the registered trademark of "CROP CIRCLE" in the United States. The Company operates the Crop Circle restaurant in Greenwich Village near Washington Square Park, which features "guokui," a flatbread baked in a clay oven with various choices of flavorful fillings such as shrimp, beef, pork, chicken, preserved vegetables and brown sugar, a popular street snack originating from northern China's Shanxi province. The Company also owns the trademark "MENO" and operates MENO, a modern tea and coffee shop with a small curated food menu.

Despite the COVID-19 outbreak and subsequent social distancing and business closure orders to contain the pandemic, CROP CIRCLE has established itself as an increasingly popular destination for its Chinese-inspired street food. Situated just blocks away from MENO, Urban Tea's ownership of these two restaurants marks the implementation of the Company's initial branding and marketing strategy in the United States.

Mr. Long Yi, CEO of Urban Tea said, 'We believe that the food and beverage industry is evolving rapidly, especially during these unprecedented times, and we see tremendous potential in the casual take-out dining market. As such, we're delighted to see such positive results from our first two months of operations in New York City with Crop Circle. The operational knowledge and experience available to us will be instrumental in facilitating our strategic overseas expansion plans and the positive initial response is a testament to that.'"

For our latest "Buzz on the Street" Show featuring Urban Tea, Inc., Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=S_3Qb6Xw904

Shake Shack Inc. (NYSE: SHAK) a modern day "roadside" burger stand known for its 100% all-natural Angus beef burgers, chicken sandwiches and flat-top Vienna beef dogs, reported earlier in July its financial results for the second quarter ended June 24th, 2020, a period that included 13 weeks. Randy Garutti, Chief Executive Officer of Shake Shack, stated, "Throughout this difficult time, I remain incredibly proud of our team. They've continued to show up, to support each other, our guests, our communities and our suppliers. They've had an unwavering commitment to excellence and hospitality in the face of an incredibly challenging operating environment. We owe them a debt of gratitude, and remain committed to their safety, well-being and ongoing development and growth." Garutti concluded, "Despite the challenging environment, total sales and average weekly sales have shown continued improvement throughout the second quarter and the third quarter through July 22." 

Yum! Brands, Inc. (NYSE: YUM) released recently its annual Global Citizenship & Sustainability Report, highlighting the Company's strategic investment in socially responsible growth and outlining efforts of its KFC, Pizza Hut, Taco Bell and The Habit Burger Grill brands to make a meaningful impact in three strategic focus areas: people, food and planet. The Company advanced its global citizenship and sustainability agenda, called its Recipe for Good, by creating a new social purpose to unlock opportunity in frontline restaurant teams and communities with a USD 100 Million investment over five years. In addition, Yum! expanded efforts to offer customers globally more balanced choices including plant-based and vegetarian menu items, and the Company continued its climate change journey by increasing efficiencies in its restaurants and corporate offices and making progress on key deforestation commitments including paper, palm oil, beef and soy. "As a global restaurant company, we can and must do more to unlock opportunities and make real and lasting change that will benefit our businesses and communities," said David Gibbs, CEO, Yum! Brands, Inc.

Starbucks Corporation (NASDAQ: SBUX) announced earlier in July financial results for its 13-week fiscal third quarter ended June 28th, 2020. GAAP results in fiscal 2020 and fiscal 2019 include items that are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. "Since the beginning of the COVID-19 outbreak in January, we have taken a principled approach to navigate the crisis, true to our mission and values. Every step of the way, we have thoughtfully addressed the needs of Starbucks stakeholders and are particularly proud of the industry-leading investments we have made to support our partners while creating a safe, familiar and convenient experience for our customers. Starbucks partners have risen to the occasion, and our near-term focus is to recover sales safely and responsibly by offering our customers the comfort and care that differentiate the Starbucks Experience," said Kevin Johnson, President and CEO.

Restaurant Brands International Inc. (NYSE: QSR) announced back in September that Burger King® is unveiling new restaurant designs that will deliver flexibility, innovative features and convenient options for how BK® food can be ordered and delivered, to fulfill changing guests demands. Dedicated mobile order and curbside pick-up areas, drive-in and walk-up order areas, enhanced drive-thru experience, exterior dining spaces and sustainable design elements are featured throughout the new designs. Created by the Restaurant Brands International in-house design group, the plans were drafted with input from tech, operations and food innovation teams to dramatically improve the Burger King® restaurant guest experience. The new designs will provide multiple ordering and delivery modes and highlight a physical footprint 60% smaller than a traditional Burger King restaurant building and site. 

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For urban tea, inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

Media Contact:
info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com