Jumboking launches a new 'Tangy Mexican JK' burger

Considering  the ongoing uncertainty caused by Coronavirus outbreak, McDonald's in California said it may offer some franchisees rent deferrals as the restaurant shuts.

The global fast-food giant also said that the “negative financial impact” to its results cannot be reasonably estimated at this time because of the uncertainty of the the duration of the pandemic which has been disrupting the scope of business. 

McDonald’s is working with franchisees around the globe to support financial liquidity, according to a regulatory filing on Tuesday. Franchisees operate about 90% of McDonald’s restaurants.

In the US the restaurants are operating with only drive-thru, takeout or delivery option with some locations having limited hours.

In its internationally operated markets segment in France and Canada they have limited operations. Some, in Italy and Spain, have closed all restaurants.

Operating hours for locations in the company’s international developmental licensed markets are driven by government regulations. In Japan, the majority of McDonald’s restaurants are open, while 95% of its locations in China are also operating.

McDonald’s long-term forecast for earnings per share growth is in the high-single digits and system wide sales growth in a range of 3% to 5%. The company said in late January it would add about 1,000 net new restaurants globally in 2020 and forecast global capital expenditures of about $2.4 billion.

McDonald’s shares were relatively flat in pre-market trading. The stock, which has a market value of nearly $115 billion, has fallen nearly 25% since the start of the year. 

Samosa Singh, a lip-smacking fast food outlet, founded in 2016, announces a pilot association with Reliance's grocery store chain with an aim to offer a tailor-made menu to Reliance grocery store customers.

Speaking about the association, Shikhar Veer Singh, the founder and CEO of Samosa Singh said, “Our aim has always been to appeal to the masses and for them to enjoy Samosa with the convenience of being available anytime, anywhere. This association helps us further our goal of reintroducing the new generation to Samosa, a snack Indians have relished across generations,”

Starting with a first few Reliance Smart stores in Bengaluru, the startup aims to soon expand its partnership to other stores gradually. “Citizen Customers expect modern, interesting, food ideas from a platform like SMART Superstore. Food in India is full of exciting possibilities. Providing a platform to an innovative startup like Samosa Singh comes naturally to Reliance Smart. I am said it will add one more reason that makes shopping at SMART, more interesting.” said Damodar Mall, CEO, Grocery Retail, Reliance Retail.

In the starting of this year, Samosa Singh raised a funding of Rs 17 crore in a Series A funding round that was led by She Capital which was aimed to scale up its operations, increase its production capabilities and expand in multi-cities, while  allowing it to enter the households through their quick delivery via cloud kitchen model.

Not just this, the outlet now claims to have sold more than 20 million units and aims to expand itself throughout the southern part of India in the upcoming year. This progress already halfway through as it opened its outlet at Bangalore international airport and has partnered with brands such as INOX, PVR Cinemas and Cafe Coffee Day, said Samosa Singh.


 

As per Arvind Mediratta, CEO & Managing Director of Metro Cash and Carry, India, government's consideration of tax on junk foods has resulted in a boost in current consumption trends towards organic foods and health & wellness products.

According to a statement, Mediratta, said: "The health and wellness foods sector has been estimated to have a potential of Rs 33,000 crore in the Indian market, with a steady upwards growth rate over the last couple of years. With a large percentage of our population under the age of 30 years - many of them young professionals with busy work schedules - a healthier diet is the cornerstone of a wholesome and healthier lifestyle, with natural and organic foods becoming a key component. The growth of a middle class that increasingly enjoys a larger disposable income and has greater exposure to global standards of food safety and quality is another factor."

Reflecting such patterns of consumption in its business, Mediratta said the firm has seen a strong trend towards organic fresh and packaged foods among its customers.

He further added, "We have also seen kiranas and small retailer customers expanding the breadth and depth of their assortment in the organic staples segment, catering to increasing consumer awareness and resulting in better penetration and distribution of organic foods in Tier 1 and Tier 2 cities.”