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CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks were decidedly negative Monday ahead of the busiest week of the third-quarter reporting season. Investors are keeping a wary eye on what’s going on in the bond market. The interest rate on the benchmark 10-year note hit highs not seen since July, even though the Federal Reserve has a bias toward lower interest rates.
In other news…Chick-fil-A is branching outside fast food with a new entertainment app. The popular chicken sandwich chain is launching a family-friendly entertainment app dubbed Chick-fil-A Play.
The app, which rolls out November 18th, will feature animated shows, scripted podcasts, games, e-books, as well as recipes and craft projects parents and kids can work on together.
Related: Popular fast-food chain shuts locations, no bankruptcy plans yet
Executive Director of Brand Strategy Dustin Britt said in a statement, “Hospitality and fun have always been at the core of the Chick-fil-A family experience, whether inside our Restaurants and play areas, or through our Kids Meals. The Chick-fil-A Play App is a digital extension of that experience and another way we’re reimagining ‘Play’ for our Guests, in a unique way through entertainment that really encourages time together.”
Britt told CNBC the idea was sparked after conversations with families and market research.
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Chick-fil-A is the third largest quick service restaurant chain behind Starbucks and McDonalds, and it is growing rapidly. It no doubt hopes technology can help narrow the gap with Mickey Ds. Chick-fil-A thinks the app can form a bond with families - the way McDonald’s playgrounds did for generations. If you’re of a certain age you know what I’m talking about. Kids loved the food but also the ability to run wild for a few hours. And don’t forget the popularity of a McDonald’s birthday party.
But times have certainly changed with most kids now glued to a mobile device. Chick-fil-A is hoping to capitalize on that with the app. And it has the cash to do so. Last year it pocketed just over a billion dollars in profits.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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