Heather Haddon
Restaurants Reporter at The Wall Street Journal
Restaurants reporter for The Wall Street Journal. Chicago via NYC. Soup-maker, bike-rider, piano-player. [email protected]
Articles
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2 weeks ago |
wsj.com | Heather Haddon
Brett Schulman said his head is spinning as he tries to figure out how much tariffs could increase the cost of his restaurant chain's pulp-based paper bowls. Schulman, chief executive of Mediterranean restaurant chain Cava, said he shares President Trump’s concerns about U.S. trade imbalances, but the administration’s handling of the tariffs is making planning difficult for his business and other companies.
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2 weeks ago |
wsj.com | Heather Haddon
Coffee chains, already stung by rising bean prices thanks to widespread drought that has wiped out many crops, are now dealing with tariff-related heartburn. U.S. chains rely on imported coffee and just 10.5% of it comes from Mexico and Canada, where the standing United States-Mexico-Canada Agreement waives tariffs on many of those imports, according to T.D. Cowen. Major coffee-producing nations, including Brazil and Vietnam, face greater duties.
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3 weeks ago |
wsj.com | Heather Haddon
Restaurants are along for the ride as U.S. stock futures head sharply lower, pressured by fears that expanded tariffs will erode restaurants' margins. Starbucks, a huge coffee importer, fell nearly 3% in premarket trading, while rival Dutch Bros dropped around 5%. Chipotle Mexican Grill, which imports avocados from Mexico, Colombia and other nations, declined 3.5%. KFC owner Yum Brands was down 2% and Burger King parent Restaurant Brands International fell 1%.
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3 weeks ago |
wsj.com | Heather Haddon
Guacamole lovers flinched when President Trump threatened a trade fight with Mexico, which accounts for roughly 90% of U.S. avocado imports. Chipotle Mexican Grill was ready. For the past seven years, the burrito chain has been scouring the Americas and the Caribbean, seeking out farms and suppliers that can satisfy its immense demand.
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3 weeks ago |
wsj.com | Heather Haddon
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CEOs are starting to speak out on how the Trump tariffs are impacting their business planning. “It’s like going to a restaurant where the menu keeps changing before you order. No one feels confident making a decision" https://t.co/R7M1Qtwz7r
Coffee chains already got hit with record prices for beans, now there is tariffs. Doesn't seem like coffee will be grown locally anytime soon, so chains are staring down 18% tariffs on shipments. “That will be a devastating 18%” https://t.co/WjQlzGpeEp
Restaurant stocks drop on tariffs news as investors sour on how it will impact chains that depend on coffee, equipment, beef imports. The fallout is likely to be even worse for independent restaurants. https://t.co/t2xoVzq7jI