Good Times Restaurants Reports Second Fiscal Quarter Same Store Sales

Good Times Restaurants Inc., operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that same store sales1 increased 0.9% for its Good Times brand and decreased 3.2% for its Bad Daddy’s brand compared to the same prior-year fiscal quarter and average weekly sales2 were $27,133 and $50,880 for its Good Times and Bad Daddy’s brands, respectively, for its second fiscal quarter ended March 26, 2024.

Ryan Zink, President and CEO, said “The strength of our Good Times brand is clearly evident from...

Albertsons Companies, Inc. Reports Second Quarter Fiscal 2023 Results

Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the second quarter of fiscal 2023, which ended September 9, 2023.

Second Quarter of Fiscal 2023 Highlights

• Identical sales increased 2.9%
• Digital sales increased 19%
• Loyalty members increased 17% to 37.4 million
• Net income of $267 million, or $0.46 per share
• Adjusted net income of $368 million, or $0.63 per share
• Adjusted EBITDA of $977 million

Vivek Sankaran, CEO commented, "During the second quarter, we continued to execute against our Customers for Life transformation...

US Q2 GDP Growth Unrevised at 2.1%; Weekly Jobless Claims Edge Higher

The U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.

Gross domestic product increased at an unrevised 2.1% annualized rate last quarter, the Commerce Department said in its third estimate of GDP for the April-June period on Thursday. Economists polled by Reuters had expected GDP for the second quarter would be unrevised.

Growth for the first quarter was revised up to a 2.2% rate from...

Kraft Heinz Names Carlos Abrams-Rivera as Next CEO

Carlos Abrams-Rivera, head of Kraft Heinz 's North American operations, becomes president immediately. PHOTO: Taylor Glascock for The Wall Street Journal

Kraft Heinz named Carlos Abrams-Rivera as its next chief executive, elevating the head of the food company's North American business.

The maker of sliced cheese and ketchup said Monday that Abrams-Rivera, who has served since December 2021 as the company's executive vice president and president of its biggest division by sales, would assume the CEO position on Jan. 1.

Kraft Heinz said Miguel Patricio, who has been...

Grocery Outlet Says Its Seeing Strength Across All Income Levels

• Net sales increased 12.5% and achieved first quarterly $1 billion net sales performance in Company's history
• Comparable store sales increased 9.2%
• GAAP net income increased 21.8% with diluted EPS of $0.24
• Adjusted EBITDA(1) increased 22.7% to $70.5 million
• Company raises key guidance for fiscal 2023

Grocery Outlet Holding Corp., today announced financial results for the second quarter of fiscal 2023 ended July 1, 2023.

Highlights for Second Quarter Fiscal 2023 as compared to Second Quarter Fiscal 2022:

• Net sales increased by 12.5% to $1.01 billion...

The Wendy's Company Reports Second Quarter 2023 Resuts

"I am proud of the entire Wendy's® system for delivering another quarter of meaningful sales and profit growth alongside sustained progress against our strategic growth pillars," President and Chief Executive Officer Todd Penegor said. "We continued to drive significant profit expansion, supported by strong same-restaurant sales momentum, resulting in an over 200 basis point year-over-year increase in U.S. Company-operated restaurant margin. During the quarter, our breakfast and late-night dayparts delivered outsized growth and we sustained our digital strength. We also continued to...

Weis Markets Reports Second Quarter 2023 Results

Weis Markets, Inc. today reported its financial results for the 13-week second quarter and 26-week year-to-date period ended July 1, 2023.

"In the second quarter, we generated solid results due to the hard work and commitment of our associates at every level of our company," said Weis Markets, Inc.'s Chairman and Chief Executive Officer Jonathan H. Weis. "We continue to make strategic investments for long-term profitable growth which benefits our associates, customers, communities, and shareholders. We are keenly aware that our customers are looking for value and...

Restaurant Brands International Inc. Reports Second Quarter 2023 Results

Restaurant Brands International Inc. today reported financial results for the second quarter ended June 30, 2023. Josh Kobza, Chief Executive Officer of RBI commented, "I am very proud of the continued performance of our teams and our franchisees who helped drive 14% growth in system-wide sales and another quarter of improved franchisee profitability. We are generating positive momentum and results behind each of our iconic brands by focusing on new menu innovations, supported by exceptional marketing and operations. I know the team is very motivated by the significant growth...

Dine Brands Global, Inc. Reports Second Quarter 2023 Results

“Dine Brands is well-positioned to invest in our brands, drive growth and maximize returns. Despite some market volatility, our business model’s resiliency is evident through consistent financial results, enabling us to pursue long-term growth opportunities, debt reduction and returning capital to shareholders,” said John Peyton, chief executive officer, Dine Brands Global. “Looking ahead, we will continue to maintain our disciplined approach to creating value for stakeholders and demand from our guests.”

Vance Chang, chief financial officer, added, “Our focus, in collaboration with our franchisees, is to drive consistent sales...

Wingstop Inc. Reports Fiscal Second Quarter 2023 Financial Results

Wingstop Inc. today announced financial results for the fiscal second quarter ended July 1, 2023.

Highlights for the fiscal second quarter 2023 compared to the fiscal second quarter 2022:

• System-wide sales increased 27.8% to $809.8 million
• 50 net new openings in the fiscal second quarter 2023
• Domestic same store sales increased 16.8%
• Domestic restaurant AUVs exceeded $1.7 million
• Digital sales increased to 65.2%
• Total revenue increased 27.9% to $107.2 million
• Net income increased 21.6% to $16.2 million, or $0.54 per diluted...

Publix Reports Second Quarter 2023 Results

Publix’s sales for the three months ended July 1, 2023 were $14.1 billion, an 8.9% increase from $12.9 billion in 2022. Comparable store sales for the three months ended July 1, 2023 increased 6.2%.
Net earnings for the three months ended July 1, 2023 were $1.1 billion, compared to $628 million in 2022, an increase of 74.7%. Earnings per share for the three months ended July 1, 2023 increased to $0.33 per share, up from $0.18 per share in 2022. Excluding the impact of net...

 Yum! Brands Reports Second-Quarter Results

Yum! Brands, Inc. (NYSE: YUM) today reported results for the second-quarter ended June 30, 2023. Worldwide system sales excluding foreign currency translation grew 13%, with 9% same-store sales growth and 6% unit growth. Second-quarter GAAP operating profit grew 4%. Second-quarter core operating profit grew 12%. Second-quarter GAAP EPS was $1.46 and second-quarter EPS excluding Special Items was $1.41. Second-quarter EPS includes a favorable $0.09 mark-to-market impact from unrealized investment gains and a negative $0.05 impact from foreign currency translation...

Pilgrim’s Pride Reports Second Quarter 2023 Results with $4.3 Billion in Net Sales

Pilgrim’s Pride Corporation, one of the world's largest poultry producers, reports its second quarter 2023 financial results.

Second Quarter Highlights

• Net Sales of $4.3 billion.
• GAAP Net Income of $60.9 million and GAAP EPS of $0.25. Adjusted Net Income of $105.3 million and Adjusted EPS of $0.44.
• Consolidated GAAP operating income margin of 2.3%.
• Adjusted EBITDA of $248.7 million, or a 5.8% margin, with adjusted EBITDA margins of 4.6% in the U.S., 5.2% in the U.K. & Europe, and 12.2% in...

Subway Achieves 10 Consecutive Quarters of Positive Sales

Subway, one of the world's largest restaurant brands, announced its 10th consecutive quarter of positive sales, as it continues to execute against its multi-year transformation journey.

During the second quarter, Subway broke brand records as it achieved its highest average unit volume (AUV) in North America for three consecutive months and, within that time, its highest weekly AUV in the company's recorded history. For the first half of 2023, Subway saw positive traffic across North America and significant growth in global restaurant same-store sales. Positive sales momentum continues to...

Unphased by Inflation Grocery Shoppers Did Not Cut Spending for Graduation and 4th of July 

Incisiv, a next-generation industry insights firm that helps retailers and brands navigate digital disruption, and Wynshop, the leading provider of digital commerce and fulfillment solutions for local store-based retailers, today revealed the findings from their State of Digital Grocery Performance Scorecard for H1 2023. The Performance Scorecard reflects the latest analysis of shopper orders, plus a summer outlook around consumers' grocery shopping behaviors.

This month's scorecard reveals new findings from June 2023 in context of Q2 and H2. Key findings include...

Jack in the Box Inc. Reports Second Quarter 2023 Earnings

Jack in the Box Inc. financial results for the Jack in the Box and Del Taco segments in the second quarter, ended April 16, 2023.

"The momentum in our business continued throughout the second quarter, reflected in outstanding sales, positive net unit growth, improved margin performance and the signing of a development agreement for expansion into Mexico," said Darin Harris, Jack in the Box Chief Executive Officer. "Over the last year we have been focused on the execution of our strategy, and the results are beginning to show. We look...