Today in the Market (7/12/2023)

Good Evening! On Wednesday, there was an increase in stock prices due to the ongoing decline in inflation in the U.S. Only time will tell but some believe this decrease in inflation weakens the argument for further interest rate hikes by the Federal Reserve.

The S&P 500 experienced a 0.74% increase, while the Dow Jones saw a small gain of 0.25%. The Nasdaq Composite experienced significant gains, increasing by 1.15%.

Try to not get too hungry but we have two restaurant stories lined up today!

MORE WAYS TO GET PIZZA? SIGN ME UP

Domino’s Pizza (DPZshares soared following the recent agreement with Uber Technologies (UBER), which enables Domino’s customers in the U.S. to conveniently place food orders through Uber’s Uber Eats and Postmates applications.

The reason? According to the CEO of Domino’s, Russell Weiner, the company digital platform sells more food on its digital platform than any other pizza company in the U.S. This strategic initiative allows Domino’s and its franchisees to tap into a previously untapped customer segment, which is expected to result in a significant rise in delivery orders once the platform becomes widely accessible.

It doesn’t stop there! The company highlighted its presence in 27 international markets that overlap with Uber Eats, emphasizing that the agreement presents an opportunity for expanding the partnership to additional global regions. According to Weiner, the implementation of this strategy has the potential to expand Domino’s customer base significantly, reaching millions of individuals globally.

WATCH OUT! LET AUTOCADO HANDLE IT!

Source: Chipotle Mexican Grill

The fast-casual chain Chipotle (CMG) has announced the development of a prototype for avocado processing called Autocado. This prototype was created in collaboration with Vebu, an automation solutions company.

The big picture! As of right now, the technology is undergoing testing at the Chipotle Cultivate Center located in Irvine, California. However, the company has set its sights on implementing this technology in one of its restaurants by the end of the year.

So how good is the “Autocado”? The avocados undergo a process of cutting, coring, and peeling before being manually mashed by a staff member to produce guacamole. According to a spokesperson, the implementation of this solution is expected to result in a 50% reduction in preparation time. Currently, the duration of the process in restaurants is approximately 50 minutes and is done all by an employee.

Is it really needed? In the upcoming fiscal year, it is projected that the organization will utilize approximately 4.5 million cases of avocados within its restaurant spanning the regions of the United States, Canada, and Europe. This is equivalent to a quantity exceeding 100 million pounds of avocado. People love their avocados!

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