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Papa John’s Announces Investments into Marketing and Support for U.S. Franchise System
Papa John’s International, Inc. (NASDAQ: PZZA) today announced increased investment in marketing and brand initiatives as well as an agreement to provide scheduled financial assistance for domestic franchisees ending in 2020. This program has the support of the Company’s elected Franchise Advisory Council (FAC). This announcement enhances the partnership between the Company and franchisees by delivering needed investment in the brand and providing franchisees with certainty on the schedule of remaining royalty relief, as outlined in the agreement.
“The strength of our brand and of our franchisees are both critical to Papa John’s long-term success. We’re pleased to announce that Papa John’s will make a significant investment in...
Research and Markets: The Plant-Based Meat Market Poised to Grow
The "Global Plant-Based Meat Market Analysis & Trends - Industry Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Plant-Based Meat Market is poised to grow strong during the forecast period 2017 to 2027.
Some of the prominent trends that the market is witnessing include creation of flavour components, alternative proteins and flexitarian diets and likemeat project serves as the base.
Based on product, the market is categorized into burger patties, meatballs, natto, sausages, strips & nuggets and other products. Depending on type, the market is segregated into...
Darden Restaurants Reports Fiscal 2019 Fourth Quarter and Full Year Results
Darden Restaurants, Inc., (NYSE: DRI) today reported its financial results for the fourth quarter and fiscal year ended May 26, 2019.
Fourth Quarter 2019 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year
Hardee’s Introduces Latest Burger Innovation
Hardee’s® has announced the launch of one of its best-tested menu items – the new Garlic Bread Thickburger® – coming to stores June 19, 2019. The brand will also debut Cheesy Garlic Fries, the perfect complement to any Hardee’s meal.
The Garlic Bread Thickburger includes a 1/3 lb. 100% Black Angus beef patty, charbroiled over an open flame, topped with a buttery garlic herb spread, parmesan crisps and caramelized onions on Hardee’s buttery toasted sourdough bread.
“We’re thrilled to introduce our latest burger innovation, the Garlic Bread Thickburger, the perfect marriage of house-made toasty garlic bread and premium charbroiled Angus beef,” said Owen Klein, Vice President of Culinary Innovation at CKE Restaurants. “This new flavor combination tested far beyond our expectations, and we know consumers everywhere will be instant fans...
Del Taco Introduces New Signature Burritos Crafted with Beyond Meat Plant-Based Protein
Lake Forest, CA (Restaurant News Release) Del Taco Restaurants, Inc. (NASDAQ: TACO), the nation’s second leading Mexican quick service restaurant,* today announced that after one of the most successful product launches in its history, the company is now expanding its partnership with Beyond Meat (NASDAQ: BYND) to offer the brand’s 100 percent plant-based protein option in two new signature protein-packed burritos, the Beyond 8 Layer Burrito and the Epic Beyond Cali Burrito, at its more than 580 locations across the country.
With the nationwide launch of its Beyond Tacos in April, Del Taco became the first national Mexican fast food chain to add a 100 percent plant-based protein option to its menu. Since then, Del Taco has sold nearly two million Beyond Tacos and Beyond Avocado Tacos, with close to 100,000 hand-sliced avocados used for the Beyond Avocado Taco alone...
FAT Brands Completes Acquisition of Elevation Burger
FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) announced that it has successfully completed the acquisition of Elevation Burger for $10 million which was funded through a combination of sellers’ notes and cash. With the acquisition of Elevation Burger, FAT Brands now franchises more than 400 restaurants around the world with annual system-wide sales exceeding $400 million.
Elevation Burger was originally conceived in 2002 by Hans Hess as a healthier burger offering. Delivering authentic, sustainably prepared food, Elevation Burger offers grass-fed, free-range options that are better for consumers and for the environment. Elevation Burger franchises 44 locations across the U.S. and internationally. Utilizing FAT Brands' vast expertise and resources, the acquisition is set to propel Elevation's forthcoming expansion, both globally and domestically...
Competition Heats Up in Canada as Emerging Channels Enter the Playing Field
Emerging channels in Canada are delivering a new wave of competition for traditional foodservice operators. Technomic’s 2019 Canadian Emerging Channels Consumer Trend Report explores these new players, covering everything from food halls to meal kits. While usage of these channels is currently low overall, there is strong appeal among younger consumers. This, along with future expansion plans, means that emerging channels are poised to steal share from restaurants moving forward.
“For younger consumers, a wider variety of need states compared to older consumers and a greater willingness to experiment and try new things leads to greater usage of emerging channels,” explains Bret Yonke, manager of consumer insights at Technomic. “Moving forward, the broad nature of these channels means competition on multiple fronts. Food halls and food trucks will be the greatest threat for lunch occasions, while eatertainment and meal kits will...
Boston Market Launches New Summer Sandwich Menu
The first day of summer – and longest day of the year – is just around the corner, and that can only mean one thing: time to sack the sad sack lunch. While the nation gears up for summer Fridays and weekend picnics in the park, we quickly forget that lunch is arguably the most important meal of the day, and no one deserves a subpar sandwich. To help guide the way (well, minus the "sub") toward more mouth-watering midday options, the rotisserie everything experts at Boston Market® are debuting four new sandwich offerings this month that must be tasted to be believed – literally.
Friday, June 21 from 11 a.m. – 2 p.m., Boston Market is inviting everyone to leave that corner bakery and/or cafe in the dust and enjoy a free sandwich on the house – pitting "theirs" against ours in a full-on sandwich throwdown. Simply bring in your current favorite sandwich and taste the difference fresh, never frozen (and never "fil-a'd") rotisserie chicken can make. You'll be hooked. Guests are then invited to vote for...
Dunkin' Begins Nationwide Delivery Rollout through Grubhub
More of America will now run on Dunkin' without ever having to leave their home or office. Dunkin' today announced that it is partnering with Grubhub (NYSE: GRUB), the nation's leading online and mobile food-ordering and delivery marketplace, to begin the rollout of its new Dunkin' Delivers service. As the first step in this launch, today more than 400 Dunkin' restaurants throughout New York City's five boroughs will now offer delivery through Seamless, Grubhub's New York brand. Following the initial launch, Dunkin' and Grubhub will look to expand the Dunkin' Delivers service to restaurants throughout other markets in the coming months, including in Boston, Chicago and Philadelphia.
Using Seamless or Grubhub, people who live and work in New York City can enjoy their favorite Dunkin' coffees, espresso drinks, Cold Brew and frozen beverages – as well as donuts, breakfast sandwiches, bagels and more – delivered directly to them, wherever they are throughout the day. New Yorkers looking for a convenient Dunkin' delivery experience can simply open the Seamless or Grubhub mobile app or website, choose their favorites and...
Domino's and Nuro Partner to Bring Autonomous Pizza Delivery to Houston
Domino's Pizza (NYSE: DPZ), the largest pizza company in the world based on global retail sales, and Nuro, the robotics company transforming local commerce, are partnering on autonomous pizza delivery using the custom unmanned vehicle known as the R2 later this year. The global leader in pizza delivery will use Nuro's unmanned fleet to serve select Houston Domino's customers who place orders online. This partnership will expand Nuro's autonomous delivery operations, which have safely and successfully been running in the Houston metro area since March 2019.
"We are always looking for new ways to innovate and evolve the delivery experience for our customers," said Kevin Vasconi, Domino's executive vice president and chief information officer. "Nuro's vehicles are specially designed to optimize the food delivery experience, which makes them a valuable partner in our autonomous vehicle journey. The opportunity to bring...
ALLETE Clean Energy's Diamond Spring Wind Project Will Provide Renewable Energy to Corporations
Allete Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), announced today a power sales agreement with Smithfield Foods, Inc. for the remaining output of the Diamond Spring wind site ALLETE Clean Energy will build, own and operate in Oklahoma.
The Smithfield agreement follows an earlier announcement of power sale agreements with two large Fortune 500 companies, Walmart and Starbucks. Walmart has agreed to purchase 175 megawatts for 15 years, Smithfield will purchase 75 megawatts for 12 years, and Starbucks will purchase 50 megawatts for 15 years. The approximately 300-megawatt Diamond Spring site, which is ALLETE Clean Energy’s first project to sell wind power to corporate customers, is now fully contracted with the Smithfield agreement...
While Restaurant Delivery gets All the Buzz, Digital Orders Overall Grow by Double-Digits
The growing access to foodservice delivery has garnered lots of attention from the marketplace and media, but while delivery grabs the spotlight, digital restaurant orders overall steadily grow by double-digits, reports The NPD Group. Restaurant digital orders, which are defined by meals or snacks ordered via mobile app, internet, or text message, have grown by 23 percent over the past four years and now represent 3.1 billion visits and $26.8 billion dollars. NPD forecasts digital orders to continue to grow by double-digits through 2020 with growth across all service modes including delivery, on premises, and carryout, according to NPD’s Delivering Digital Convenience report.
Although convenience is understandably the top reason consumers choose digital ordering, other top reasons include: no waiting; the ability to order, pay, and have it ready; ordering at my “own” pace; and earning rewards/feeling valued. In addition to these reasons...
Consumer Disloyalty is the New Normal
Assume the people you consider to be the most loyal customers on the planet are, in fact, disloyal. Because 92% of the time, you’ll be right. New Nielsen findings demonstrate that just 8% of consumers consider themselves to be firmly committed loyalists.
Yet the marketing tactics and investments rarely reflect these realities. A whopping 46% of consumers tell us they are more likely to try new brands than they were five years ago; a clear signal to a trend we should expect to intensify. Yet we see few signs that adjustments have been made to marketing initiatives or innovation pipelines to match these numbers.
The implications of not dramatically rethinking campaigns that focus on winning or retaining loyal customers are meaningful. The drag effect of consumer demand for choice and...
Tyson Foods Unveils Alternative Protein Products and New Raised & Rooted Brand
As part of efforts to expand its protein offerings, Tyson Foods, Inc. (NSYE: TSN) today introduced the company’s first plant-based and blended products, along with its new Raised & Rooted® brand. The initiative makes Tyson Foods the largest U.S. meat producer to enter the growing alternative protein segment with its own products.
TheRaised & Rooted brand was created to provide great-tasting plant-based and blended foods that are rooted in how people eat today. The initial products under this new brand, which will launch with several major retail customers this year, include plant-based nuggets as well as blended burgers made with a combination of beef and plants. In addition, the company’s existing Aidells® brand has launched Aidells Whole Blends™ sausage and meatballs, made with chicken and plant-based ingredients.
Tyson Foods expects to introduce additional alternative protein products through multiple customers and sales channels. This includes...
Chili's Partners Exclusively with DoorDash
Chili's® Grill & Bar, a leader in the casual dining industry, is also leading the category in off-premise innovation. To build on that momentum, starting today, Brinker International, Inc., the parent company of Chili's and Maggiano's Little Italy®, has entered into an exclusive agreement with DoorDash, the nation's largest on-demand destination for door-to-door delivery, that brings delivery of Chili's favorites to Guests from more than 1,000 participating restaurants nationwide.
"We chose DoorDash as an exclusive partner because they have a leading market share in areas where Chili's restaurants are located and have a fast growing delivery platform," said Wyman Roberts, chief executive officer of Brinker and president of Chili's. "While we tested delivery with several partners, DoorDash integrated seamlessly into our operations, demonstrated the ability to drive incremental sales and provided...
Technomic: Students’ Foodservice Demands Grow Both On and Off Campus
Delivery, technology and health trends are changing the foodservice landscape and younger generations are leading this charge. Technomic’s 2019 College & University Consumer Trend Report explores this segment in depth, providing actionable recommendations for operators and suppliers to get ahead of the challenges and competition.
“Students have high expectations from their foodservice experiences both on and off campus. Delivery, convenience and menu innovation are all top priorities for college and university students,” explains Anne Mills, senior manager of consumer insights at Technomic. “On top of this, they will choose companies that support causes they care about such as...
Hard Rock International Debuts its Most Extensive Menu Innovation
Hard Rock International is announcing its most extensive menu innovation in the company's history with more than 20 new offerings debuting in locations around the world on Friday, June 14, 2019. The legendary restaurant's new menu puts the spotlight on its lineup of all-new, award-winning Steak Burgers, headlined by the world's first edible 24-Karat Gold Leaf Steak Burger™ that will benefit Action Against Hunger.
Steak Burgers aren't the only items making their debut on Hard Rock's new menu, which also includes Instagram-worthy Boozy Milkshakes, Sliders and Shareables that encourage adventure and exploration, allowing fans to curate their most flavorful playlist. The global launch of the new menu coincides with...
Tim Hortons Announces Agreement to Launch in Thailand
Tim Hortons announced today that it has entered into an exclusive master franchise and development agreement to develop the Tim Hortons brand in Thailand with WeEat Company, part of the Wattanavekin family group of companies.
"We are very excited to grow the Tims brand in Thailand as part of our broader global growth strategy," said Tim Hortons President Alex Macedo. "Thailand has a thriving coffee market and our partner has a deep understanding of the Thai market, which we believe will position us well for success in the country."
Tim Hortons believes that it can replicate in Thailand its recent successes in other international markets by featuring a strong core hot and cold beverage platform, a localized food menu and prominent Canadian branding in the restaurant design to celebrate the brand's Canadian heritage...
RestaurantOwner.com: Restaurant Delivery Report
RestaurantOwner.com's published results of their 2019 Restaurant Delivery Survey focuses on the growing trend of restaurant delivery and summarizes input gathered from nearly 1,000 independent restaurant owners and operators regarding their experiences with self-delivery and third-party service providers, and their insights regarding restaurant delivery.
Restaurant delivery has become available in most independent restaurants, with 57% of operators offering some form of delivery. Moreover, 16% of the operators without delivery plan to add the service within a year. Of operators who offered delivery, 31% used only third-party services, 12% operated in-house delivery services, and 14% relied on...
Cracker Barrel Reports Third Quarter Fiscal 2019 Results
Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the third quarter of fiscal 2019 ended May 3, 2019.
Third Quarter Fiscal 2019 Highlights
QDOBA Mexican Eats Names San Diego “Home” with New Brand Headquarters
QDOBA Mexican Eats®, a leading Mexican fast-casual chain, is choosing to stay and invest in San Diego by opening its new headquarters in the AMP&RSAND office complex. Named “QDOBA Flavor Central,” the headquarters will also serve as a hub for the culinary team to create and test menu innovations.
“The QDOBA team is excited to call ‘America’s Finest City’ our official home,” said Keith Guilbault, CEO of QDOBA Mexican Eats. “During the search for our new office, we knew we wanted to stay in San Diego and diligently sought out a space that reflects our collaboration-centric culture. The AMP&RSAND is a perfect fit.”
Formerly occupied by The San Diego Union-Tribune, QDOBA’s new headquarters is located at 350 Camino De La Reina. The office features exposed brick, concrete pillars and...
Mintel Announces Five U.S. Flavor and Ingredient Trends
Mintel, the world’s leading market intelligence agency, announced from IFT19 the flavor and ingredient trends that are influencing the foodservice and packaged food and drink categories in 2019 and beyond. The five new trends link the relationship between consumer behavior and food and drink to dishes on restaurant menus and products on store shelves, and explain the significant momentum that has led to this moment.
Seeking out ingredients that provide sustenance for healthy eating is top of mind for Americans. However, consumers today are also looking beyond the balanced diet. Flavors that tap into relaxation and support a healthy gut are satisfying consumers that are looking for ingredients that will feed the mind, body, and soul...
Red Robin Gourmet Burgers Reports Results for the Fiscal First Quarter Ended April 21, 2019
Red Robin Gourmet Burgers, Inc., (NASDAQ:RRGB) last week reported financial results for the quarter ended April 21, 2019.
First Quarter 2019 Financial Highlights Compared to First Quarter 2018
Popeyes Announces Agreement to Launch the Brand in Spain
Popeyes Louisiana Kitchen Inc. ("Popeyes") today announced an exciting new agreement to open Popeyes restaurants in Spain with the aim of becoming the market leader.
"We have an ambitious long-term goal for RBI of reaching 40,000 restaurants over the next 8 to 10 years. Today, we're excited to share big news from Europe where we have announced ambitious plans for one of our iconic brands – Popeyes – in Spain," said Josh Kobza, Chief Operating Officer of Restaurant Brands International Inc. ("RBI"), parent company of Popeyes. "We believe we have the best tasting chicken, biscuits and side items and that Popeyes can become Spain's number one choice for chicken as we develop...
Restaurant Performance Index Fell Sharply in April
As a result of softer readings in both the current situation and forward-looking indicators, the National Restaurant Association’s Restaurant Performance Index (RPI) fell sharply in April. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 100.1 in April, down 1.8 percent from a level of 101.9 in March.
April’s RPI decline was the result of broad-based softening in both the current situation and expectations indicators. Although same-store sales readings were slightly positive in April, customer traffic turned negative. In addition, restaurant operators are less optimistic about both sales growth and the overall economy...
Indulgent Snack Food is Making a Comeback by Walking the Line Between Health and Enjoyment
U.S. consumers are giving themselves permission to enjoy indulgent snacks, reports The NPD Group. Their permission to enjoy savory and sweet snacks is the result of the wellness-driven acknowledgement that balance is the key. Brands are supporting their consumers’ quest for balance by offering snacks that walk the line between health and indulgence, like portion-control packs, thinner versions, or nutrient-enhanced savory and sweet snacks, finds NPD’s recently released Future of Snacking report.
“The role of snack food is changing in different ways in reaction to Americans’ desire for balance, portable snack foods, and holistic wellness,” says David Portalatin, NPD food industry advisor and author of Eating Patterns in America. “It’s no longer about depriving yourself of...
McDonald's Workers Walk Out
Hundreds of workers at McDonald's Corp. restaurants walked off the job on Thursday to protest what they described as low pay, unsafe workplaces and sexual harassment.
The walkouts prompted operators to close 10 restaurants in St. Louis, and workers picketed outside McDonald's in Des Moines and Cedar Rapids, Iowa. The day's events are among the most visible disruptions to the chain's operations in the years since unions have sought to organize McDonald's workers.
Several hundred workers from restaurants in 13 cities left their posts during the breakfast and lunch rushes...
Taco Bell Embarks On Next Chapter of Global Growth
Taco Bell, the world's largest Mexican-inspired restaurant chain, is continuing its major global expansion with the signing of its largest master franchise agreement in India, as well as unveiling new international markets for the brand.
The Master Franchise Agreement, signed with franchise partner Burman Hospitality Private Limited (BHPL) of India, commits to developing 600 restaurants on the sub-continent in the next 10 years. Upon completion of the 600 restaurants, the brand expects to contribute over 20,000 jobs to India's economy...
Restaurants Face Challenges Tapping into the Summer Labor Pool
According to the National Restaurant Association, summer employment is defined as the average number of eating and drinking place jobs in June, July, and August. Generally, the United States restaurant industry begins to ramp up its seasonal hiring in April, and peaks in June, July, and August. Restaurants are expected to add 515,000 jobs this summer season. Summer is typically the busiest season for restaurants in many parts of the United States, and the increased consumer traffic leads to additional employment opportunities at all levels of a foodservice operation. Roughly one in six food and drinking establishments operate on a seasonal basis, many being during the summer. The seasonal businesses that do all of their hiring for the summer months are responsible for the bulk of additional jobs.
Although the restaurant industry will add more than half a million jobs for the seventh consecutive summer, hiring will be somewhat cut back in 2019, with the projected increase of...
Technomic: Canadians’ Routines and Habits Present Challenges for Emerging Bakery and Coffee Cafes
In the 2019 Canadian Bakery & Coffee Cafe Consumer Trend Report, Technomic found that many coffee cafe customers stick to the same restaurant brand and, oftentimes, the same cafe location, due to their coffee preferences and demands for convenience. On the other hand, bakery-cafe customers are open to mixing up the brands they visit, challenging these operators to build up loyal customer bases.
“For emerging coffee cafes, the challenge is in getting consumers to break from their routines and try something new,” explains Charles Winship, manager of consumer insights at Technomic. “While specials and limited-time offers can help draw in new visitors, whether these guests habitually return will ultimately come down to value, convenience and, in many cases, coffee.”
Key takeaways from the report include...
Guests can Now Order P.F. Chang's with Uber Eats Across the U.S.
Enjoying P.F. Chang's menu of made-from-scratch favorites just got even easier. Now, guests across the U.S. can order P.F. Chang's using their Uber Eats app.
"Uber Eats is one of the fastest growing off-premise delivery companies in the U.S.," said Tana Davila, P.F. Chang's senior vice president. "We are excited to partner with them and make our food even more accessible to current and new customers."
Uber Eats is fully integrated throughout P.F. Chang's restaurant point-of-sale system, ensuring seamless order placement and timely delivery of orders from the entire made-from-scratch menu in restaurants across the country. P.F. Chang's will continue to offer...
Restaurant Food Costs: What does ASF Mean for Protein Prices in the US?
Rabobank expects food costs in the US to increase in the second half of the year, as protein prices are impacted by stronger export demand following the African Swine Fever (ASF) outbreak. Pork and chicken prices will be the most impacted. Beef will be the last to see increases materialize, but QSR patty prices are expected to be the most vulnerable component. If a trade agreement with China were to be brokered, price increases would be faster and steeper.
Restaurants Should Expect Rising Protein Prices
For the past two years, restaurants have been favored by a relatively benign food cost environment, which helped compensate for rising costs in other areas (labor, real estate). We expect this situation to change (for proteins) towards the second half of the year and...
National Restaurant Association President & CEO Announces Retirement
After 12 years successfully leading one of Washington’s largest and most influential trade associations, advancing and protecting all aspects of the restaurant and foodservice industry, National Restaurant Association and National Restaurant Association Educational Foundation President & CEO Dawn Sweeney announced last week that she will step down when her current contract ends at the end of 2019. Until then, she will continue to lead the Association and Foundation, gain Board approval for the 2020-2024 strategic plan, and assist Board leadership in the search for a new CEO.
“Serving and leading the restaurant industry during this historic timeframe, when foodservice has grown to an $863 billion business employing over 15 million professionals, has been the most fulfilling experience of my career,” said Dawn Sweeney. “We have accomplished much together, including...
Little Caesars And Impossible Foods Team Up For Impossible Supreme Pizza
Little Caesars, the pizza chain celebrated for meat-centric products including a pizza wrapped in three feet of bacon, has teamed up with Impossible Foods to offer a plant-based sausage on the new Impossible™ Supreme pizza.
The Impossible Supreme is a large pizza topped with sauce made from fresh-packed, vine-ripened California crushed tomatoes, covered with mozzarella and Muenster cheese, and loaded with a generous portion of seasoned Impossible™ Sausage made from plants, caramelized onions, mushrooms and green peppers.
Impossible Supreme Pizza is now available exclusively in three Little Caesars test markets in Florida, New Mexico and Washington state...
Nathan’s Famous Names James Walker Senior Vice President, Restaurants
Nathan’s Famous announced today that it has hired James Walker, CFE, as the company’s Senior Vice President, Restaurants. Walker comes to Nathan’s Famous from Subway where he was Vice President, North America, overseeing all franchised restaurants in the U.S. and Canada.
“We are excited to have James on board to lead our all-important restaurant division,” said Eric Gatoff, CEO of Nathan’s Famous. “While our success over the last decade has largely come from our product licensing and foodservice businesses, Nathan’s started as a restaurant company in 1916. James’ skill set includes extensive experience in restaurant operations, franchising and product development. Adding someone as accomplished and innovative as James demonstrates our continued commitment to...
Sparboe Companies Announces the Sale of its New Hampton, Iowa Plant to Deb El Food Products
Sparboe Companies is pleased to announce the sale of its New Hampton, Iowa plant to Deb El Food Products. Deb El will continue to operate the New Hampton plant, which produces liquid, frozen and dried egg products. Sparboe’s shell egg division, Sparboe Farms, will continue to operate their shell egg facilities in Minnesota, Iowa and Colorado and is not part of the sales agreement.
Beth Schnell, Sparboe CEO says of the agreement “We would like to thank all of our employees in New Hampton for the years of dedication and hard work and wish them the best under new leadership. We are pleased to have partnered with another family owned company in this transaction and look forward to Deb El’s success in New Hampton. Proudly celebrating our 65th anniversary, Sparboe will continue to focus on...
Consumer Pent-Up Demand for Restaurants Remains Elevated
The trend line of restaurant sales was positive during the first four months of 2019, according to data from the U.S. Census Bureau. Eating and drinking place sales totaled $61.5 billion on a seasonally-adjusted basis in April, which represented the fourth consecutive monthly gain after a sluggish second half of 2018.
To be sure, there appears to be more room for growth in the months ahead, according to a national survey conducted May 9-12 by ORC International for the National Restaurant Association. When asked about their current restaurant usage, a significant proportion of the American public say they would like to be patronizing restaurants more often. Forty-two percent of all adults say they are not eating on the premises of restaurants as frequently as they would like, while 48 percent say...
Which Rules the Roost When it Comes to Restaurant Orders: Burgers or Chicken Sandwiches?
Burgers have been a top item ordered at U.S. restaurants for decades but chicken sandwiches have come on strong over the last several years. There are more chicken sandwich restaurant concepts and chicken sandwiches are appearing on more menus. So have burgers been knocked off their perch by chicken sandwiches? “No,” says The NPD Group, which daily tracks U.S. consumers use of restaurants and other foodservice outlets. Burgers still rule the roost and are the top sandwich ordered overall.
By the numbers, the average number of times a customer purchased a burger at a restaurant over the 12-month period ending February 2019 was 14.7 times and the customer purchase frequency of chicken sandwiches was 8.7, according to NPD’s receipt harvesting service, Checkout, which tracks...
Slower Tax Refunds and Weather Affect April Retail Sales but Fundamentals 'Remain Positive'
Retail sales were down 0.2 percent in April seasonally adjusted from March but up 5.2 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.
“Slower tax refunds and weather may have been key factors impacting April’s numbers, but the fundamentals remain positive, particularly in long-term comparisons,” NRF Chief Economic Jack Kleinhenz said, citing flooding in the middle of the country and blizzards and extreme temperature swings elsewhere along with a soft housing market that impacted sales of furniture, appliances and building materials. “Despite there being a lot of...
NRA: Foodservice Jobs Continue to Rally as Middle-Class Opportunities Expand
The National Restaurant Association recently reported on the state of employment in their industry, with some surprising results.
The key takeaways from their reports were that while the restaurant industry remains one of the most popular for Americans entering the workforce, there’s also great growth as the field experiences an increase in middle-class job creation. Unsurprisingly, restaurant employees have a high rate of turnover between the high seasonality and large population of student workers.
One in three American adults got their first job in...
The Wendy's Company Reports First Quarter 2019 Results
The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the first quarter ended March 31, 2019.
"We delivered strong earnings growth in the first quarter and are proud of our continued progress to build an even stronger foundation for the Wendy's brand," President and Chief Executive Officer Todd Penegor said. "We are executing on our plan to accelerate same-restaurant sales in North America and drive global restaurant expansion, fueled by a healthy restaurant economic model. Our relentless focus on bringing every element of The Wendy's Way to life by providing food our customers love, friendly service, value, and an inviting atmosphere will continue to drive growth in the future...
Canadians Choose Restaurants Based Upon the Best Online Reviews According to New Survey
A new Google survey of 1000 Canadians between the ages of 18 and 65+ explores the things that lead to restaurant selection with some interesting results. Canada is enjoying a culinary renaissance, and has become world-renowned for being the epicenter of a food revolution.
There has never been a more exciting time than now, to get out and experience the cornucopia of restaurants in any given urban area. As a result, restaurant owners find themselves in a highly competitive market, vying for customers' patronage.
There are several contributing factors that lead Canadians to choose one restaurant over another. However, regardless of demographics, the most important factor seems to be based upon the best online reviews...
Del Taco Restaurants Reports Fiscal First Quarter 2019 Financial Results
Del Taco Restaurants, Inc., (NASDAQ: TACO), the second largest Mexican-American quick service restaurant chain by units in the United States, today reported fiscal first quarter 2019 financial results for the 12-week period ending March 26, 2019. Del Taco also reaffirmed its previously announced guidance for fiscal year 2019.
Fiscal First Quarter 2019 Highlights
US Foods Reports First Quarter Fiscal 2019 Earnings
US Foods Holding Corp. (NYSE: USFD),one of the largest foodservice distributors in the United States, today announced results for the first quarter of fiscal 2019.
First Quarter Fiscal 2019 Highlights
Postmates and Pei Wei Launch On-Demand Delivery with Free Delivery
Postmates and Pei Wei Asian Kitchen, the leading fresh, Asian fast-casual restaurant, announced that they have partnered to bring Pei Wei's delicious Asian cuisine direct to the customer's doorstep. To celebrate, the companies are providing customers with free delivery. From the new, customizable Bento Boxes to its fresh, house-made Cauliflower Rice, every dish is made to order with quality ingredients, like house-chopped veggies and grass-fed flank steak. Now, you can have any of these delicious offerings delivered right to your door with no delivery fee.
"We are thrilled to add Pei Wei Asian Kitchen to our already long list of partners," said Dan Mosher, SVP, Merchant Lead at Postmates. "Our goal is to provide our customers with the most choices of any delivery platform, giving them the ability to...
Ruth’s Hospitality Group, Inc. Reports First Quarter 2019 Financial Results
Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) today reported unaudited financial results for its first quarter ended March 31, 2019.
Highlights for the first quarter of 2019 were as follows:
Shake Shack Announces First Quarter 2019 Financial Results
Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK) today reported its financial results for the first quarter ended March 27, 2019, a period that included 13 weeks.
Financial Highlights for the First Quarter 2019 compared to the First Quarter 2018:
The Cheesecake Factory Reports Results for First Quarter of Fiscal 2019
The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the first quarter of fiscal 2019, which ended on April 2, 2019.
Total revenues were $599.5 million in the first quarter of fiscal 2019 compared to $584.7 million in the first quarter of fiscal 2018. Net income and diluted net income per share were $27.0 million and $0.60, respectively, in the first quarter of fiscal 2019.
Excluding the after-tax impact of the $1.5 million loss on the Company’s minority investments, net income and diluted net income per share for the first quarter of fiscal 2019 would have been $28.1 million and $0.62, respectively. Please see the Company’s reconciliation of non-GAAP financial measures at the end of this release...
The State of Millennial Dining
If you are wondering what attracts millennial customers to your restaurants, perhaps the No. 1 answer is the ability to provide an experience, new National Restaurant Association research finds.
According to the Association’s 2019 State of the Restaurant Industry report, millennial customers, aged 21 to 38 years old, said they would like restaurants to serve technology that improves the dining experience, offer more environmentally sustainable items, and create easier opportunities to order takeout and delivery.
Regarding the general dining experience, the report found millennials were willing to pay more to get more. Here are a few of the topline findings...
Dunkin' Brands Reports First Quarter 2019 Results
Dunkin' Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin' and Baskin-Robbins (BR), today reported results for the first quarter ended March 30, 2019.
"While we are still in the early innings of the implementation of our Blueprint for Growth, Dunkin' U.S. delivered a strong first quarter, including 5.5 percent systemwide sales growth and a 2.4 percent increase in comparable store sales, which was the largest quarterly comparable store sales increase in four years. This solid performance, across both morning and afternoon, was driven by consistent, compelling national value promotions and continued beverage sales momentum. In particular, the relaunch of our highly successful...
Dine Brands Global Reports First Quarter Results
Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill + Bar® and IHOP® restaurants, today announced financial results for the first quarter of 2019.
“Dine Brands delivered another impressive quarter. Our performance and momentum reflect the continued improvement in our core business. We delivered double-digit growth in several key metrics. The implementation of multi-pronged strategies at Applebee’s and IHOP have produced positive results. Both brands reported positive comparable sales growth for the first quarter, lapping over positive sales results for the first quarter of 2018,” said Steve Joyce, Chief Executive Officer of Dine Brands Global, Inc...
Yum! Brands Reports First Quarter Results
Yum! Brands, Inc. (NYSE: YUM) today reported results for the first-quarter ended March 31, 2019. Worldwide system sales excluding foreign currency translation grew 8%, with 7% net-new units and 4% same-store sales growth. First-quarter GAAP EPS was $0.83, a decrease of (35)%. First-quarter EPS excluding Special Items was $0.82, a decrease of (8)%.
Greg Creed Comments
Greg Creed, CEO, said, “The third and final year of our transformation is underway and I’m thrilled with the progress towards our commitment to becoming a more focused, more franchised, and more efficient growth company. First-quarter results were a solid start to the year, reflecting particular strength at the KFC division and Taco Bell U.S. With this quarter, we have a healthy foundation to...
Sonic Drive-In Says Aloha with New King's Hawaiian Clubs
SONIC® Drive-In adds a taste of Hawaii to its menu this month with the all-new KING’S HAWAIIAN® Clubs. Complete with island flair, SONIC transforms its Classic Crispy Chicken Sandwich and SONIC Burger to create the irresistible KING’S HAWAIIAN Chicken Club and KING’S HAWAIIAN Burger Club.
Guests can choose between the KING’S HAWAIIAN Chicken Club made with 100-percent all white meat crispy chicken or the KING’S HAWAIIAN Burger Club made with a savory 100-percent pure beef patty, both piled high with fresh lettuce, ripe tomato, crunchy bacon, and natural Swiss cheese layered on the iconic KING’S HAWAIIAN Bun. Starting at just...
UB Executive Conference: Deli is Driving Force Behind Grocery Perimeter Growth For Good Reasons
Sarah Schmansky is Vice President of Nielsen’s Fresh and H&W Growth and Strategy Teams, and a much-anticipated presenter at this year’s Executive Conference. The focus of her presentation was centered around the evolution of retail foodservice, with deli being a major component of that.
Nielsen data shows that in-store growth is coming from the perimeter of the store. Schmansky says “Deli is driving that growth.” And for good reason. Consumers are increasingly valuing their time and their health and wellness, and the deli foodservice component often checks both of those boxes.
Additionally, healthy growth is seen at the meat case and elsewhere in the perimeter. Deli is main driver of total fresh department growth. Deli foodservice, specifically, holds the dominant share...
TripAdvisor: Where Mom Really Wants to Dine on Mother's Day
TripAdvisor®, one of the world's largest restaurant sites, today announced how mom really wants to dine on Mother's Day. A survey of over 7,900 U.S. participants1 revealed telling results: Her idea of a great Mother's Day dining experience may not be what you think.
Mother Knows Best:
Restaurant Performance Index Posted a Solid Gain in March
Buoyed by stronger same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a healthy gain in March. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.9 in March, up 0.9 percent from February’s level of 101.0.
Growth in the RPI was driven by the same-store sales and customer traffic indicators, which both registered solid improvements in March. Looking forward, roughly one-half of restaurant operators expect to see stronger sales volumes in six months. However, their outlook for...
Wendy's Releases New Chicken Lineup
Wendy's recently released the Made to Crave menu – a sandwich line dedicated to unlocking a whole new world of flavors. Now, Wendy's Made to Crave menu is bringing you a new chicken lineup guaranteed to satisfy those craveable taste buds. Introducing three new chicken sandwiches to Wendy's chicken menu: Avocado BLT, S'Awesome Bacon Chicken and Barbecue Chicken.
Made to Crave Chicken sandwiches takes Wendy's core menu that much further, driving more flavor variety to your go-to chicken sandwiches while never sacrificing quality. The best part? The Made to Crave Chicken lineup features each of Wendy's different fillets. We're talking the lightly breaded and specially seasoned homestyle, grilled and for when you want to raise the temperature a bit – spicy. Each sandwich is made with...
McDonald's Reports First Quarter 2019 Results
McDonald's Corporation today announced results for the first quarter ended March 31, 2019.
"We started the year strong with our 15th consecutive quarter of positive global comparable sales, reflecting continued broad-based momentum across each of our global segments," said McDonald's President and Chief Executive Officer Steve Easterbrook. "We remain focused on running better restaurants and elevating the experience for our customers by providing convenience on their terms through delivery, Experience of the Future, and our evolving digital channels."
First quarter highlights...
Dunkin' Introduces Two New Breakfast Bowls
In our busy, on-the-go lives, it's not always easy to make better decisions while eating on the run. That's why Dunkin' is continuing to introduce new, delicious menu items to help guests power through the day, including its new Dunkin' Bowls which are now available at participating locations nationwide for a limited time. The new lineup includes an Egg White Bowl that provides guests another easy way to be a little better and joins other better-for-you Dunkin' products like the popular Power Breakfast Sandwich.
Available today at participating Dunkin' restaurants nationwide, guests can choose from two new Dunkin' Bowls to pair with their favorite Dunkin' beverages...
Domino’s Delivers Real-Time Pizza Location
Domino’s Pizza is creating transparency in the store-to-consumer supply chain.
The pizza chain is piloting a test of GPS-enabled delivery driver tracking in 27 corporate stores in Phoenix, Arizona. Customers who order from one of these stores can track the location of their order and driver via a map from the order confirmation page on the Domino’s site or the Domino's app.
Customers receive an estimated delivery time and can opt into SMS text notifications that let them know when their order is about two minutes away. The tracking feature also provides optional navigation and one-touch customer callback capabilities to delivery drivers. In addition, store managers have a driver-tracking screen that will show where all of their drivers are out on the road...
Panera Bread Appoints Niren Chaudhary as CEO
Panera Bread ("Panera" or "the Company") today announced that it has appointed Niren Chaudhary as President and Chief Executive Officer, succeeding Blaine Hurst who is retiring from his current role as CEO of Panera effective May 23, 2019. Hurst will remain on the Board of Panera and become Vice Chairman, and will work alongside Chaudhary after he joins the Company in early May to help ensure a smooth transition into his new role.
Chaudhary joins Panera from Krispy Kreme, where he has been the Chief Operating Officer and President of Krispy Kreme International since 2017. Previously Chaudhary spent 23 years with Yum! Brands in a variety of executive positions. He has more than 25 years of international corporate leadership experience in the food retail and hospitality industry, and brings broad experience in...
Restaurant Brands International Inc. Reports First Quarter 2019 Results
Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the first quarter ended March 31, 2019.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "At BURGER KING® and POPEYES®, we saw strong system-wide sales growth driven by net restaurant growth, reflecting the strength of our brands and business model around the world. Underlying fundamentals at TIM HORTONS® remain strong and we are excited about our first three restaurants in China. Overall, we are confident in the long-term growth prospects for each of our three iconic brands, and remain focused on providing a great guest experience while driving franchisee profitability...
Starbucks Reports Q2 Fiscal 2019 Results
Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March 31, 2019. GAAP results in fiscal 2019 and fiscal 2018 include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.
“Starbucks delivered another quarter of solid operating results, demonstrating that our ‘Growth at Scale’ agenda is working,” said Kevin Johnson, president and ceo. “We are especially pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments...
Church's Chicken Offers New Spicy Tenders LTO
Fried chicken with a spicy kick that's not only hot, but flavorful too, is a Church's Chicken® tradition that's been going strong for 66 years and counting. It started with guests squeezing the juice of a jalapeño pepper over the brand's hand-battered fried chicken, but it hasn't stopped there. Today, Church's menu still prominently features jalapeño peppers, but also includes the brand's one-of-a-kind Spicy Chicken recipe made from a signature blend of red pepper, cracked black pepper, chipotle, and habanero peppers, in addition to jalapeño peppers. The bold, Texas-inspired heat and savory flavor is a big fan favorite with guests, but what many don't know is that there's a Church's menu "secret" for...
Foodservice Operators Seek Ways to Compete in 2019 Business Environment
According to the National Restaurant Association’s new State of the Industry report, operators, though generally optimistic about business conditions, say they must increase foot traffic, while keeping loyal customers content and attracting new customers at the same time.
The research indicates this year’s business environment is increasingly competitive, thus operators are seeking solutions to ensure success.
The good news, the report states, is that the majority of consumers eating out at restaurants are satisfied with their dining experiences. More than eight in 10 adult customers, or 85 percent, say they are satisfied with the service, food quality and...
NRA Examines State of the Restaurant Industry
Restaurant businesses are growing despite some operational challenges, such as workforce development issues, demand for increased technology, and serving Millennials, according to new National Restaurant Association research.
The 2019 State of the Restaurant Industry Report, a comprehensive look at trends and sales projections for the industry, culled and analyzed economic data, along with responses to surveys sent to restaurant operators and consumers.
Hudson Riehle, Association Senior Vice President of Research & Knowledge, shared takeaways from the report, discussed how he expects business to perform throughout 2019 ...
Tech Trends Driving Changes in Restaurants, Report Says
Gen Z and millennial expert Jason Dorsey says people refer to Gen Z and millennials as “tech savvy.” But that’s not necessarily true, says Dorsey. He says they’re actually “tech dependent” -- and that’s a different thing altogether.
That may be how they engage with restaurants too. From baby boomers to Gen Xers, generational attitudes toward restaurant technology notably differ, according to National Restaurant Association research delivered in a recent webinar.
State of the Restaurant Industry
What's the outlook for restaurants in 2019? The National Restaurant Association's 2019 State of the Restaurant Industry report provides the details.
Five key trends shaping the restaurant industry in 2019
While restaurant operators generally are optimistic about business conditions, they don't expect a letdown in competitive pressures in 2019. In addition, rising labor costs and ...
Restaurant Performance Index Edged Lower in February
As a result of softer readings in the current situation indicators, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a modest decline in February. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.0 in February, down slightly from a level of101.2 in January.
While restaurant operators continued to report positive same-store sales in February, customer traffic turned negative for the first time in five months. Although 50 percent of operators expect their sales to be higher in six months ...
Restaurant Performance Index Declined in January
Due in large part to softer same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) declined in January.The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.2 in January, down 0.4 percent from a level of 101.6 in December.
Although a majority of restaurant operators reported higher same-store sales in January, the readings were somewhat softer than the stronger results in November and December. Looking forward, nearly one-half of operators expect ...
Restaurant Performance Index Remained Relatively Steady in December
With restaurant operators continuing to report positive sales and traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) was essentially unchanged in December. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.6 in December, down slightly from a level of 101.8 in November. The RPI continued to be supported by positive readings in the same-store sales and customer traffic indicators, which both came in similar to their November levels. Looking ahead, although restaurant operators are generally optimistic about sales growth in the months ahead, their outlook for the overall economy remains uncertain. The RPI is constructed so that the health of the restaurant industry is measured in relation to a neutral level of 100. Index values above 100 indicate that key industry indicators are ...
Restaurant Performance Index Posted a Moderate Increase in November
Driven by stronger same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a moderate increase in November The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.8 in November, up 0.5 percent from a level of 101.2 in October.
Growth in the RPI was buoyed by the same-store sales and customer traffic indicators, which both improved for the second consecutive month. Looking forward, restaurant operators are generally optimistic about sales growth in the coming months, while their plans for capital expenditures also ...
Virtual Reality Offers a Far-Out Future for Restaurants
What if you could create a restaurant experience in virtual reality and then apply what you learn to a real-life restaurant? Jinsoo An is trying to do just that.
An, the founder and CEO of startup company Project Nourished, is experimenting with using augmented reality (AR) and virtual reality (VR) to try to alter a consumer’s eating and drinking experience.
He explained his theory in detail at our recent Restaurant Innovation Summit, held Nov. 7-8 in Dallas.
An has had a fascination with the restaurant experience from the time he first learned about American food by...
National Restaurant Association Says 1 in 10 Americans Plan to Spend Thanksgiving at a Restaurant
Restaurateurs, be prepared Nov. 22, because a number of consumers will supplement their traditional holiday meals with restaurant-prepared foods, the National Restaurant Association’s the most recent research states.
Almost one in 10 (9 percent) adults plan to eat their Thanksgiving meal at a restaurant. In addition, 4 percent of those planning a holiday meal at home intend to purchase it from a restaurant.
Among the adults who told us they plan to visit a restaurant this Thanksgiving, 31 percent said they would go to the same restaurant they traditionally go to on the holiday.
Another 30 percent said they restaurant they will go to is one they only...
Restaurant Performance Index Dipped Amid Softer Sales in September
Due in large part to softer same-store sales and customer traffic levels, the National Restaurant Association’sRestaurant Performance Index (RPI) declined in September. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.1 in September, down 0.9 percent from a level of 102.0 in August.
The RPI’s September decline was primarily the result of a pullback in the current situation indicators, as both same-store sales and customer traffic eased off their positive August levels. Looking forward...
The Survey Says: Gen Zs, Millennials like Working for Industry
Millennial and Gen Z members say the foodservice industry offers good employment opportunities and effective training in various skills, according to new research by the National Restaurant Association Educational Foundation.
The Foundation partnered with the Center for Generational Kinetics, to release a report detailing how both generations view the industry and how to interest them in future job and career opportunities.
The research looked at responses from more than 1,600 respondents and found the following...
Chains Ramp Up Efforts To Create Healthy Kids’ Meals
Families have always enjoyed dining out together at restaurants, and now they’re looking to operators to provide them with more balanced dining choices. To meet that request, chefs and restaurateurs are ramping up efforts to create more better-for-you, great-tasting foods they all will love.
“Many restaurants are working to update their menus so kids are satisfied with the choices available to them," says Jeff Clark, the National Restaurant Association’s director of sustainability and nutrition. "Today, more kids' menus feature foods made from fresh ingredients that are prepared creatively, healthfully, and are a lot of fun to eat.”
Clark adds that restaurateurs know their adult clients want nutritious items for their kids and that they must cater to that demand or risk losing business. To succeed, they, their chefs and suppliers are working on dishes children and their parents can love equally.
The following are four examples of national chains offering better-for-you options on their menus...
Restaurants Up the Ante on Healthier Menu Options
Consumers are telling restaurateurs they’re looking for menu items lower in calories, more nutritious and, in some cases, smaller sized, and restaurateurs are listening.
Earlier this year, the National Restaurant Association released its annual What’s Hot Culinary Survey of more than 1,000 U.S. chefs and restaurateurs. The research found that eight in 10 operators said customers pay more attention to nutritional content than they did two years ago. The survey also discovered 71 percent of consumers said availability of healthy menu choices made it more likely they’d choose one restaurant over another. As a result, restaurateurs planned to add more of those options to their menus. For example...
Restaurant Performance Index Posted a Healthy Gain in August
Driven by stronger same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a healthy gain in August. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 102.0 in August, up 1.0 percent from a level of 101.1 in July.
The RPI’s August increase was bolstered by broad-based gains in the current situation indicators, which rebounded from softness in July. Restaurant operators reported a net increase in same-store sales for the 10th consecutive month, with customer traffic also turning positive in August. Although the forward-looking indicators anticipate continued growth in the coming months, their recent trends have been somewhat ...
Restaurant Performance Index Posted a Moderate Gain in June
Driven by stronger same-store sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a moderate improvement in June. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.6 in June, up 0.5 percent from a level of 101.2 in May.
June’s RPI was buoyed by stronger same-store sales, with a majority of restaurant operators reporting higher sales for the first time in three months. Although operators reported mixed customer traffic results in June, it was an improvement over traffic declines in the previous two months. On the flip side, expectations...
Restaurant Performance Index Edged Lower in May
As a result of a somewhat dampened outlook among restaurant operators for business conditions in the months ahead, the National Restaurant Association’s Restaurant Performance Index (RPI) posted a modest decline in May. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.2 in May, down slightly from April’s level of 101.3.
The RPI’s current situation indicators continued along the trend established in recent months, with positive same-store sales being offset by a decline in customer traffic levels. Meanwhile, restaurant operators are somewhat less optimistic about sales growth in the months ahead, while their outlook for the overall economy was downgraded to its weakest level in nearly a year...
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