Red Lobster's new 35-year-old CEO explains what went wrong with ‘endless shrimp' — here's what you can learn [Yahoo! Finance]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: Yahoo! Finance
protection in May, Red Lobster has hired a new CEO to help revitalize the popular seafood restaurant chain. The embattled franchise, which has been around for 56 years, has had five CEOs since 2021. However, Damola Adamolekun, 35, has voiced his passion for the brand. Don't miss Commercial real estate has beaten the stock market for 25 years — but only the super rich could buy in. Here's how even ordinary investors can become the landlord of Walmart, Whole Foods or Kroger “This is, without exaggeration, one of the most important companies in American history,” the new CEO told CNN in a recent interview. His first major step towards rescuing Red Lobster is to eliminate one of its most iconic menu items: $20 endless shrimp, which was first launched in 2004. The company lost an estimated $20 million in 2023 when “endless shrimp” became a permanent year-round menu option. “That's a very expensive product to give away endlessly,” he said, explaining how shrimp orders caused “ch
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WMT
Earnings
- 8/15/24 - Beat
WMT
Sec Filings
- 10/18/24 - Form 8-K
- 10/16/24 - Form 4
- 10/15/24 - Form 144
- WMT's page on the SEC website