Sbarro Emerges from Bankruptcy and More Industry News
This week in industry news, Sbarro LLC emerged from potential bankruptcy with a plan to remove about 85 percent of its outstanding debt, Zoe’s Kitchen, Inc. experienced a 47.4-percent increase in revenue in its first earnings report as a public company, and Pilgrim’s Pride Corp. raises the stakes again on Hillshire Brands Co. with a $7.7 billion bid.
Read on for more of this week's biggest financial news in the world of food.
Krispy Kreme Doughnuts, Inc.: The company’s profit rose 21.3 percent in the first quarter.
Photo Credit: Facebook/Krispy Kreme Doughnuts
Zoe’s Kitchen, Inc.: In its first earnings report as a public company, Zoe’s Kitchen, Inc. experienced a 47.4-percent increase in revenue for the first quarter.
Così, Inc.: Stephen Edwards, executive chairman of Così, Inc., is stepping down after serving two terms in the position.
Hillshire Brands Co.: Pilgrim’s Pride Corp. raises the stakes again on Hillshire Brands Co. with a $7.7 billion bid in response to Tyson Foods, Inc.’s $6.8 billion bid last week.
New Financial Programs
Panera Bread Co.: The company signed on to a new three-year share repurchase program of up to $600 million, which will replace its existing program that will expire on Aug. 23, 2015.
More Financial News
Sbarro LLC: After filing for Chapter 11 bankruptcy nearly three months ago, the company emerged with a plan to remove about 85 percent of its outstanding debt.
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Haley Willard is The Daily Meal's assistant editor. Follow her on Twitter @haleywillrd.