WHAT TO WATCH FOR
Yum! Brands is set to release its earnings on July 30.
KEY BACKGROUND
More than 7,400 people (most of whom live in Michigan) are confirmed or suspected to have been sickened with cyclosporiasis, an illness caused by the cyclospora parasite, in the last two months, and federal investigators scrambled for weeks to discover the source until identifying Taco Bell’s lettuce supplier as the possible origin. The Food and Drug Administration said more than 1,600 of those sickened in the outbreak reported eating at Taco Bell restaurants, and blamed Taylor Farms’ shredded lettuce. Shortly after, however, the agency backtracked and said a test of the brand’s lettuce for the cyclospora parasite had returned a false positive. The agency didn’t completely clear Taylor Farms, and the supply chain evidence remains, but no produce samples have returned a positive test for the parasite to date. Cyclospora outbreaks are notoriously challenging to trace because the parasite is difficult to detect—finding it has been likened to “a needle in a haystack”—and the CDC says it expects cases to rise through the end of August.
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SURPRISING FACT
Yum! Brands, Sweetgreen and major McDonald’s franchisee Arcos Dorados warned investors about cyclosporiasis in recent Securities and Exchange Commission filings. Each company explicitly named the illness as a material business risk and warned fresh, raw leafy greens handled at its restaurants were at risk for the parasite.
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further reading
ForbesHere’s Where The Cyclosporiasis Outbreak Stands After Taylor Farms’ False PositiveBy Mary Whitfill Roeloffs
ForbesTaco Bell Warned Investors About Cyclosporiasis Before The Outbreak—And These Other Chains Did TooBy Mary Whitfill RoeloffsForbesCyclosporiasis Theories Are Spreading Online. Here’s What’s True.By Mary Whitfill Roeloffs