Quick-service restaurants (QSR) are locked in a fierce “value war,” offering cash-strapped consumers $5 meal deals or even better bargains to maintain their market share. This battle for value has intensified as QSR executives recognize that low- and mid-tier households have been financially squeezed by the Biden-Harris economy. With elevated inflation, high interest rates, depleted savings, …
Tag Archives: Subway
Olo agrees to settle shareholder lawsuit for $9M
Olo has agreed to pay $9 million to settle a class-action lawsuit brought by shareholders who accused the company of failing to properly disclose the end of its relationship with Subway. The agreement comes after a New York district judge twice denied Olo’s efforts to have the lawsuit dismissed. The company continued to deny any …
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Securities class action targets Olo and its Subway footprint
WHITE PLAINS, N.Y. (Legal Newsline) — The Pompano Beach Police and Firefighters’ Retirement System alleges a restaurant online ordering/delivery software company misled it and other investors. Pompano Beach Police and Firefighters’ Retirement System, individually and on behalf of all others similarly situated, filed a complaint Sept. 26 in the U.S. District Court for the Southern District …
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OLO IS LOSING ITS SUBWAY BUSINESS, DRAWING SHAREHOLDER LAWSUITS
The technology company said it has known since the beginning of the year that Subway could leave, taking 15,000 locations and “a few million dollars” in revenue with it.By Joe Guszkowski on Aug. 17, 2022 Subway is leaving Olo in favor of an in-house tech solution. / Photograph: Shutterstock Online ordering company Olo revealed last week that …
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Here’s Why Olo Stock Dropped Like a Rock Today
One of the largest restaurant chains in the world is leaving Olo’s platform, spooking investors. What happened Shares of restaurant online ordering platform Olo (OLO -36.41%) dropped like a rock on Friday, after the company lowered its revenue guidance for the remainder of 2022. As of 11:30 a.m. ET, Olo stock was down a whopping 33% and is down …
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SUBWAY, EAGER TO GROW SALES, TURNS TO CATERING
As customers return to offices, they’ll want something to eat. And Subway is hoping to take full advantage as part of its bid to improve unit volumes. The Milford, Conn.-based sandwich giant on Tuesday introduced a refreshed catering program, including new packaging, delivery and ordering options. “Over the last year, we’ve continued to see an …
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