Michelin Guide: New York City 2019 awards stars to 76 restaurants, up from 72

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“Michelin has handed out its coveted stars to 76 restaurants in New York City in its 2019 guide, four more than last year, boosting the Big Apple’s reputation as a global destination for its diverse and innovative culinary offerings.”

“Michelin will release the latest edition of its New York City eating guide tomorrow. Their grading system uses anonymous reviewers in 28 countries. Some argue it is rigid and overlooks some restaurants that critics and diners praise.

The restaurant rater awarded its highest ranking of three stars to the same five New York establishments as last year for their “exceptional cuisine, worth a special journey”: Chef’s Table at Brooklyn Fare, Eleven Madison Park, Le Bernardin, Masa and Per Se. But New York will still likely lag San Francisco in the number of three-star restaurants for a second year. San Francisco and the wine-producing regions of Napa and Sonoma had seven last year, the most of any US cities.”

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Shake Shack Sees Same-Store Sales Dip

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Shake Shack, once the darling of better-burger brands, continues to show signs of struggle in the sector as it reported a same-store sales decline this week.

Comps decreased 0.7% for the quarter ended Sept. 26, while total revenue rose 26.5% and sales increased 27.2%.
Shake Shack stock prices tumbled more than 11% on the news early Friday.
During the quarter, Shake Shack opened seven company-operated stores and two licensed units.

The brand expects to launch its largest number of new stores in history in 2019, with plans to open 36 to 40 units, executives said during a call with analysts Thursday.
The company drew concern from investors following its announcement in August that it was suffering from a logjam in unit expansion, stalling growth until the later part of 2018.

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Rare Wine Auctions Show No Signs of Slowing

While Burgundy continues to reign at rare wine auctions, top Bordeauxs like Pétrus are seeing higher prices.

“In the third quarter of 2018, global sales of fine and rare wine at auction totaled $70.4 million, up a whopping 31 percent over 2017’s third-quarter total of $53.7 million. U.S. sales totaled $36.1 million, up 19.1 percent. Hong Kong sales rose 49 percent, to $26.3 million, and London sales increased by 40 percent to $8 million. As in the previous two quarters, pristine single-owner cellars and winery-direct consignments generated much of the heated bidding.”

“Acker Merrall & Condit’s first September sale, held in New York, brought in $7.2 million against a presale high estimate of $7.3 million. It was 96 percent sold. “Burgundy didn’t take a vacation this summer,” quipped Acker Merrall and Condit CEO John Kapon, in a statement. All 25 of his sale’s top lots hailed from the French region.”

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