"Project Fresh" is what Wendy's (NASDAQ: WEN) is officially calling its turnaround plan. Wendy's stock has been on the decline for quite some time. The company is taking aggressive action to right the ship. With earnings due on Feb. 13, investors are anxious to see if those efforts are actually working. Last quarter, global sales were down 2.6%, and adjusted earnings per share fell 4%. The fast food chain began a downward spiral in late 2024, and it's continued to decline ever since. Over the past 12 mon ...

Core Insights - Bombardier Inc. reported strong financial results for the fourth quarter and full-year 2025, marking the fifth consecutive year of growth and exceeding targets [2][4][7] - The company provided guidance for 2026, indicating expectations for continued growth and profitability [12][14] Financial Performance - Revenues for 2025 reached $9.55 billion, a 10% increase year-over-year, driven by higher aircraft deliveries and record-high Services revenues of $2.3 billion, up 13% [4][7][20] - Adjusted EBITDA rose 15% year-over-year to $1,559 million, with an adjusted EBITDA margin of 16.3%, an increase of 60 basis points [7][20] - Reported EBIT increased by 26% to $1,108 million, resulting in an EBIT margin of 11.6%, up 150 basis points [7][20] - Adjusted net income grew to $805 million, a 47% increase year-over-year, while reported net income surged to $975 million, up 164% [9][20] Cash Flow and Debt Management - Free cash flow for 2025 was $1,072 million, an increase of $840 million compared to 2024, reflecting higher customer advances and improved operating cash flows [10][20] - The company repaid over $400 million in debt during 2025, improving the adjusted net debt to adjusted EBITDA ratio from 2.9x in 2024 to 1.9x at year-end [11][20] Order Backlog and Market Demand - The order backlog increased by $3.1 billion to $17.5 billion as of December 31, 2025, representing a 22% year-over-year growth [5][20] - The unit book-to-bill ratio for the year was 1.4, indicating strong demand across Bombardier's aircraft portfolio [5][20] 2026 Guidance - For 2026, Bombardier expects revenues to exceed $10 billion, driven by higher aircraft deliveries and continued growth in Services [14] - Adjusted EBITDA is projected to be greater than $1,625 million, with free cash flow anticipated to range between $600 million and $1,000 million [14][12]

Core Viewpoint - BMO Capital has raised the price target for Starbucks (SBUX) to $120 from $115 while maintaining an Outperform rating, indicating strong confidence in the company's turnaround plan and significant earnings per share (EPS) growth potential in the coming years [1] Group 1 - The company's Investor Day reaffirmed confidence in its turnaround strategy and growth potential [1] - Starbucks's fiscal year 2028 targets are deemed achievable with upside potential, suggesting a path towards EPS exceeding $5 by fiscal year 2030 [1] - The anticipated EPS growth is supported by a well-rounded slate of sales drivers [1]

In today’s CEO Daily: Fortune‘s Phil Wahba reports on the early wins in Starbucks CEO Brian Niccol’s tunaround plan. The big story: Apple’s blockbuster earnings fail to impress investors. The markets: U.S. markets are set to drop at the open, and Bitcoin has hit a two-month low. Plus: All the news and watercooler chat from Fortune. Good morning. Starbucks is heating up. Earlier this week, the coffee store company reported its first U.S. quarterly comparable sales increase in two years, helped by CEO ...

Core Insights - Starbucks shares experienced a rise following the release of its latest financial results, indicating positive momentum in its turnaround strategy [1][1] - The company reported a 4% year-over-year increase in global and North American comparable-store sales for the fiscal first quarter, along with a 3% rise in transactions, signaling effective customer engagement [1][1] - An upcoming Investor Day event is expected to unveil Starbucks' long-term growth strategy, which may further influence investor sentiment [1][1] Financial Performance - Starbucks reported a 4% increase in comparable-store sales year-over-year for the fiscal first quarter ending December 28 [1][1] - Transactions also rose by 3%, indicating a successful implementation of the "Back to Starbucks" initiative aimed at increasing foot traffic in cafes [1][1] - The stock has outperformed the S&P 500 this year and is currently trading above $100, a significant recovery from its 12-month lows in the $70s [1][1] Strategic Vision - CEO Brian Niccol emphasized the company's commitment to becoming the world's greatest customer service company and enhancing its brand visibility and relevance [1][1] - The company aims to provide the best job in retail and position itself as a community coffee house while focusing on global growth and shareholder value [1][1] - The upcoming Investor Day is anticipated to provide further insights into the company's long-term growth strategy [1][1]

Core Insights - Demand at Starbucks is rebounding, indicating that CEO Brian Niccol's turnaround efforts are effective [1][6] - The company reported a 4% increase in sales at North American stores open for at least a year, marking the first sales growth in eight quarters [1][3] - Global sales also rose by 4%, driven by increased purchases and spending from existing customers [2] Financial Performance - Starbucks reported revenue of $9.9 billion, surpassing Wall Street expectations for sales and revenue, although it missed profit estimates [3] - The company's stock has increased by $16.24 this year, reflecting a 19.34% rise [3] Strategic Initiatives - Niccol's turnaround strategy includes an aggressive redesign, enhanced rewards program, and new food and beverage items [9] - The company is hosting its first investor day under Niccol, focusing on returning to its coffeehouse roots and encouraging customers to stay longer [5] - Several initiatives, such as a new protein menu and the Green Apron Service model, have been implemented faster than expected [14] Market Context - Despite the positive sales momentum, Starbucks stores in the U.S. have experienced a decline in store visits due to broader economic factors affecting consumer spending [12] - Niccol has expressed confidence in the company's trajectory, stating that the sales momentum is just the beginning of the turnaround [6][8]

Core Insights - Nike is facing significant challenges in the current consumer economy, with its stock down 53% over the past five years and a decline in return on equity from 43.1% in 2022 to 23.3% in 2025 [1][2] Financial Performance - The company's quarterly gross profits have been declining since 2023, and despite beating earnings expectations in Q2 of fiscal 2026, the stock price fell 10% following the earnings call due to disappointing revenue from China, which was down 17% year-over-year [1][6] Market Challenges - Nike is impacted by tariffs, expecting to incur $1.5 billion in costs for fiscal year 2026, which will reduce its gross margin by 1.2% [3] - The company is also experiencing declining revenue in China, a crucial market for its future growth [5][7] Consumer Behavior - U.S. consumers are becoming more price-sensitive, with 48% not planning to buy footwear during the 2025 holiday season, and 65% of potential buyers citing tariffs as a reason for increased prices [8][9] Strategic Changes - CEO Elliott Hill, appointed in October 2024, is implementing a turnaround strategy focused on rebuilding relationships with wholesale partners and regaining retail shelf space, moving away from the previous leadership's e-commerce discount strategy [8]

Core Viewpoint - Krispy Kreme is undergoing a significant turnaround plan focused on profitability, refranchising, and improving operational efficiency after exiting unprofitable partnerships, notably with McDonald's [2][7][23]. Group 1: Turnaround Strategy - The company has launched a turnaround plan aimed at boosting profitability, reducing leverage, and improving cash flow, with a focus on sustainable income streams [4][6][24]. - Krispy Kreme ended its partnership with McDonald's due to unprofitability and is now concentrating on profitable channels and refranchising efforts, particularly in international markets [2][7][23]. - The company is actively refranchising its operations in Japan and exploring similar opportunities in other markets like the U.K., Australia, and Mexico to enhance operational efficiency [9][16]. Group 2: Financial Performance - The third-quarter results showed positive trends, with higher adjusted EBITDA and a focus on generating positive cash flow to pay down debt [4][24]. - The company has stopped delivery operations in 1,400 locations that were not profitable while still adding new profitable ones, demonstrating a decisive approach to cost management [23]. - The goal for 2026 is to stabilize operations and show continuous improvement in EBITDA and cash flows, with a potential shift to long-term growth strategies in 2027 [25][26]. Group 3: Operational Efficiency - Krispy Kreme is outsourcing logistics to improve delivery efficiency and reduce costs, allowing the company to focus on its core competencies in doughnut production and retail [13][15]. - The company maintains strict quality control over its doughnut production process, ensuring consistency across international markets by using a concentrated mix from its North Carolina facilities [19][20][21]. - The brand is leveraging excess doughnut capacity in the U.S. to avoid the need for new shop openings domestically, focusing instead on expanding through established franchise partners internationally [10][11].

Financial Data and Key Metrics Changes - The company has not yet released its 2025 results, but it is expected to announce its fourth quarter and full-year 2025 results in late February [2] - The company operates in over 40 countries with approximately 2,100 company-owned and franchise shops, selling more than 1 billion donuts annually [2] Business Line Data and Key Metrics Changes - The company is focusing on a capital-light growth strategy, emphasizing refranchising and off-premise distribution to grocery and convenience stores [4][5] - A recent hub opened in Minneapolis achieved $1 million in profitable sales from one donut shop in just 17 days, marking a record-breaking opening for the company [11] Market Data and Key Metrics Changes - The company has seen significant growth in digital commerce, which now represents about 20% of retail sales, with a 17% growth in digital sales in the third quarter of the previous year [34][35] - The company is in less than half of the store networks of major partners like Target and Walmart, indicating substantial growth opportunities [24] Company Strategy and Development Direction - The company has implemented a turnaround plan focused on refranchising, driving returns on invested capital (ROIC), expanding margins, and achieving quality growth [5][10] - The company aims to leverage existing production capacity and reduce capital expenditures while improving free cash flow generation [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's growth potential, citing high brand awareness and a relatively low penetration rate in the U.S. market [3] - The leadership team is focused on sustainable and profitable growth while deleveraging the balance sheet [41][42] Other Important Information - The company has a loyalty program with 16 million members in the U.S., which helps engage customers and promote new product offerings [37][38] - The company is continuously innovating its product offerings, including limited-time offerings and seasonal menu items, to maintain consumer interest [28][29] Q&A Session Summary Question: Why is Krispy Kreme evolving to a capital-light international franchise model? - The company has a proven global franchise model and aims to grow faster using outside capital [6] Question: What are the implications for average weekly sales of the doors added versus those eliminated? - New doors are performing better in average weekly sales compared to the eliminated ones, with Walmart locations achieving over $1,000 in weekly sales [25] Question: How is the company approaching digital sales and its loyalty program? - Digital sales represent about 20% of retail sales, and the loyalty program has been effective in engaging customers and promoting new products [34][37]

Financial Data and Key Metrics Changes - The company has not yet released its fourth quarter and full-year 2025 results, which are expected in late February [2] - The company operates in over 40 countries with approximately 2,100 company-owned and franchise shops, selling more than 1 billion donuts annually [2] Business Line Data and Key Metrics Changes - The company is focusing on a capital-light growth strategy, emphasizing refranchising and off-premise distribution to grocery and convenience stores [4][5] - A new hub opened in Minneapolis, achieving $1 million in profitable sales from one shop in just 17 days, marking a record-breaking opening [11] Market Data and Key Metrics Changes - The company has seen significant growth in digital commerce, which now represents about 20% of retail sales, with a 17% increase in the third quarter of the previous year [34][35] - The company is in less than half of the store networks of major partners like Target and Walmart, indicating substantial growth opportunities [24] Company Strategy and Development Direction - The company has implemented a turnaround plan focused on refranchising, improving returns on capital, expanding margins, and ensuring quality growth [5][10] - The company aims to leverage existing production capacity while reducing capital expenditures, with a focus on operational improvements [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's growth potential, citing low household penetration in the U.S. and the need for improved access to products [3][4] - The leadership team is committed to executing the turnaround plan and achieving long-term profitable growth [41][42] Other Important Information - The company has a loyalty program with 16 million members in the U.S., aimed at enhancing customer engagement and driving sales [38] - The company is focusing on its iconic Original Glazed donut, which represents more than half of its sales and is a key driver of profitability [27] Q&A Session Summary Question: Why is Krispy Kreme evolving to a capital-light international franchise model? - The company has a proven global franchise model and aims to grow faster using outside capital [6] Question: What are the implications for average weekly sales of the doors added versus those eliminated? - New doors are performing better than the average, with Walmart locations achieving over $1,000 in weekly sales [25] Question: How is the company approaching digital sales and its loyalty program? - Digital sales are increasing, representing 20% of retail sales, and the loyalty program has been relaunched to engage customers effectively [34][37]