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Papa John’s Announces Fourth Quarter and Full Year 2020 Financial Results
Papa John’s International announced financial results for the three months and full year ended December 27, 2020.
“2020 was a transformational year for Papa John’s, as we turned our focus to the future. We were able to deliver industry-leading sales growth and significant profitability by coming together as a system to take care of our team members, customers and communities in one of the most challenging years in history,” said President & CEO Rob Lynch. “Q4 2020 was the third consecutive quarter of...
Domino's Pizza Announces Fourth Quarter and Fiscal 2020 Financial Results
Domino's Pizza, Inc. announced results for the fourth quarter and fiscal 2020, comprised of growth in global retail sales, same store sales and earnings per share. Global retail sales increased 21.7% in the fourth quarter, or 20.9% excluding the positive impact of foreign currency. Global retail sales increased 12.5% in fiscal 2020, or 13.2% excluding the negative impact of foreign currency. Global retail sales were benefited in the fourth quarter and fiscal 2020 by the inclusion of an extra, or 53rd week. Global retail sales increased 12.0% in the fourth quarter, excluding the positive impact of foreign currency and the impact of the 53rd week. Global retail sales increased 10.4% in fiscal 2020 excluding the negative impact of foreign currency and the positive impact of the 53rd week.
U.S. same store sales grew 11.2% during the quarter and 11.5% for the full year, continuing the positive sales momentum in the Company's U.S. stores business. The international business also posted...
While Chicken Sandwich Wars in the U.S. Intensify, Burgers Still Rule the Roost
No doubt that chicken sandwiches have gained a lot of attention over the past few years as more chicken restaurant concepts open and more chicken sandwiches appear on menus. The question is though, have these sandwich sensations knocked burgers from their perch as the top entrée item ordered at U.S. restaurants? That’s a hard “no,” says The NPD Group.
In the year ending 2020, burgers were included in 13.5% of all restaurant orders, which translated to 7 billion servings of burgers. Chicken sandwiches (breaded and grilled) were included in...
ANALYSIS: An Early-Year Check-up on Turkey Cold Storage Holdings
As we turn the corner into late Q1, turkey market participants are peering into the freezer to evaluate how the supply side of the equation is fending so far this year...
Denny's Adds New Options to Melts and Bowls Lineup
Denny's is adding all new options to its Melts & Bowls lineup for the ultimate comfort food experience.
With the addition of four new Melts & Bowls, guests have even more combinations and flavors to choose from, truly offering something for every palate. The new selections are available nationwide and include...
IHOP Appoints Kieran Donahue as Chief Marketing Officer
IHOP announced the newest member of its executive team, naming Kieran Donahue to the position of Chief Marketing Officer. In this role, Donahue will be responsible for driving IHOP’s marketing and culinary strategies, including oversight of advertising, digital innovation, communications, menu development and overall brand experience. Beginning February 22, Donahue will report directly to IHOP President Jay Johns.
“Kieran is an innovator and a transformational Fortune 500 executive who has a long track record of demonstrated performance across a diverse set of global brands,” said Johns. “Given her impressive professional history surpassing business goals, building trusted relationships and...
From Animal Meat to Fungi, U.S. Consumers Tap into A Host of Sources to Get Protein into Their Diets
The want of more protein in their diets have U.S. consumers seeking the coveted macronutrient from a variety sources, reports The NPD Group. Protein, the nutritional counterpart to fat and carbohydrates, is considered the body’s building blocks, and can be found in a long list of foods, like seafood, meat, poultry, eggs, legumes, and vegetables.
In order to get more protein into their diets, consumers are availing themselves to all of these types of foods in addition to whatever might be the trendy protein of the day, like fungi, according to NPD’s Eating Patterns in America, an annual compilation of the company’s daily tracking of U.S. consumers’ eating behaviors away from and...
Cracker Barrel Reports Second Quarter Fiscal 2021 Results
Cracker Barrel Old Country Store, Inc. reported its financial results for the second quarter of fiscal 2021 ended January 29, 2021.
Second Quarter Fiscal 2021 Highlights
Subway Announces Steve Rafferty as Senior Vice President of Development
Subway restaurants have announced Steve Rafferty as Senior Vice President of Development for North America.
In this role, Rafferty is responsible for leading the strategic direction for business development, supporting the network of Subway developers and leading growth initiatives for new and existing franchisees.
"Steve has the deep experience to successfully lead teams to achieve new franchise recruitment, unit growth, and new market entry goals. His wealth of knowledge, along with...
Eat Beyond Adds Plant Power to Its Portfolio and Extends Marketing Agreement
Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative food sector, is making an investment in, and adding Plant Power Restaurant Group, LLC ("Plant Power") to its portfolio.
California-based Plant Power Fast Food is known as an innovator in the Quick Service Restaurant ("QSR") field with its 100% plant-based offerings and biodegradable packaging. Plant Power features a menu that ranges from burgers, fries, shakes and 'chicken' tenders - to wraps, salads, juices, raw items and...
COVID-19 Disruptions Create New Areas of Opportunity and Risk for the Poultry Industry
Covid-19 is disrupting the business in ways the global poultry market had never planned for, creating new areas of opportunity and risk. The impacts of Covid-19 are spread very unevenly between regions and between companies.
“Company leaders and investors need to constantly review market conditions and adjust company positioning to optimize growth and returns. There will be bigger differences between winners and losers, which will lead to a process of accelerated capital investments, consolidation, and internationalization in the coming years,” according to Nan-Dirk Mulder, Senior Analyst – Animal Protein.
Rabobank has identified three stages of Covid-19’s impact on the global poultry industry...
ANALYSIS: Counter-seasonal Rally in Pork Belly Values
Pork bellies have noted a substantial gain since the start of the New Year, with a 41% increase from January 4th. Despite the foodservice end of the industry remaining limited, retail demand has continued to...
Wendy's New Jalapeño Popper Chicken Sandwich Heats Up the Chicken Wars
Wendy's unveiled two new bold menu items, the Wendy's Jalapeño Popper Chicken Sandwich and Salad, to its already-stacked chicken lineup.
"Inspired by classic jalapeño poppers fans know and love, my culinary team took the familiar flavors of the beloved appetizer and gave it a unique Wendy's twist only we can deliver," said John Li, Vice President of Culinary Innovation for The Wendy's Company. "The new Jalapeño Popper Chicken Sandwich and Salad brings Wendy's fans a bold, innovative flavor they can't get anywhere else. Each bite is graced by the perfect balance of...
A Look at Protein Demand as the Six-Week Lenten Period Begins
As the six-week Lenten period leadup to Easter begins, foodservice and retail are catering to those who cannot eat meat at least one day a week. As SeafoodNews reported, restaurants like Bojangles, White Castle, and Quizno’s are just a few offering seafood items for a limited time.
Last year, Popeyes brought in a limited time Buttermilk Biscuit Shrimp offering for Lent. To switch things up this year, Popeyes introduced a new contender in the "Chicken Sandwich Wars," a Cajun Flounder Sandwich. But how could a new fish sandwich offering during Lent impact the chicken sandwich battle, which has become...
National Restaurant Association Says Now is Not the Time for the Raise the Wage Act
The National Restaurant Association released the results of its survey of restaurants large and small, which asked what impact the proposed Raise the Wage Act would have on their ability to recover in 2021.
After hearing the response, the Association sent a letter to congressional leaders citing the survey results to urge that the measure be removed from the $1.9 trillion stimulus plan.
“Passage of this bill this year would lead to job losses and higher use of labor-reducing equipment and technology,” said Sean Kennedy, executive vice president for Public Affairs for the National Restaurant Association...
Jack in the Box Reports First Quarter FY 2021 Earnings
Jack in the Box Inc., reported financial results for the first quarter ended January 17, 2021.
Jack in the Box® system same-store sales increased 12.5 percent for the quarter. Company same-store sales increased 7.5 percent in the first quarter driven by average check growth of 21.2 percent while transactions decreased 13.7 percent.
Darin Harris, chief executive officer, said, "Our ongoing strategy continues to resonate with our guests with same-store sales significantly outperforming our peers. We saw strong...
Wingstop Reports Fiscal Fourth Quarter and Full Year 2020 Financial Results
Wingstop announced financial results for the fiscal fourth quarter and fiscal year ended December 26, 2020.
Highlights for the fiscal fourth quarter 2020 compared to the fiscal fourth quarter 2019:
Good Catch Plant-Based Tuna Continues Expansion into Foodservice
Keep an eye on Good Catch tuna. Gathered Foods, the makers of the plant-based seafood brand, are continuing their expansion into foodservice through a new partnership with Whole Foods Market.
Good Catch first debuted at Whole Foods in February 2019. Now, instead of just being on the shelves, it’ll be in the Whole Foods prepared food section. Retail locations in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island will be offering Good Catch’s plant-based deli-style tuna salad by the pound...
Shifting Trends See Global Food Giants Ramp Up Their Plant-based Offerings
The past few years have seen plant-based meat and dairy alternatives go from a niche product to a mainstream trend, and finally to a mainstay in the food industry. Now that the average consumer has had the opportunity to try plant-based alternatives, the market has spoken and plant-based foods are taking a much larger role in the food industry in 2021.
Plant-based offerings are being added to the lineups of the world's largest food producers, multinational restaurants and cafes, and to important segments like the infant nutrition space. It's clear that the largest players in the food industry like Tyson Foods, PepsiCo, Starbucks Corporation, and Yum! Brands, along with innovative plant-based foods companies like...
Eat Beyond Adds Zoglo's Incredible Food to Its Portfolio
Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative food sector, is announcing that it has completed an investment in Zoglo's Incredible Food Corp. ("Zoglo's"), by joining its recent seed round. Zoglo's has plans to become publicly traded via reverse take over in the coming months. At the present time, Eat Beyond anticipates further increasing its interest in Zoglo's by participating in its next financing - the "go public" round.
Zoglo's has been a leading company offering kosher, plant-based products for over 25 years and is now ready to enter the mainstream market. It has a product selection of over...
Chicken Wing Prices Reach Record Highs
UB Consulting Takes a Fundamental Look at What’s Behind the Surge
Chicken wing prices have been at the forefront of the conversation for several weeks now. Why? Because wholesale spot market prices have reached record highs and are behaving in a non-seasonal manner. Historical price seasonality suggests strong buying commitments are made around the end of Q3 into the beginning of Q4 when prices reach their seasonal peak. These purchases are made in the middle of football season and get another seasonal bump into January prior to the Superbowl and March Madness. Yet, as we all know, 2020 has been a year in which historical behavior has been notably in disarray—and 2021 has begun in a similar manner with prices well over their seasonal averages.
Click HERE for the full report from UB Consulting...
Nathan's Famous Launches Brand's First Plant-Based Hamburger Patty with Impossible Foods
Nathan’s Famous, Inc., announced its partnership with Impossible Foods to bring consumers the brand’s first gourmet, hamburger patty made from plants. The Impossible Foods patty made from plants for meat lovers adds to the Nathan’s Famous New York-themed fresh angus burger line-up.
“At Nathan’s Famous, we are always focused on offering our customers food that is memorable, craveable and instagrammable and this announcement does just that, while making our menu...
US Foods Reports Fourth Quarter and Fiscal Year 2020 Earnings
US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the fourth quarter and full fiscal year 2020. The fourth quarter of fiscal year 2020 included 14 weeks compared to 13 weeks for the fourth quarter of fiscal year 2019, and the full fiscal year 2020 included 53 weeks compared to 52 weeks in the full fiscal year 2019. Certain financial results in this press release have been presented excluding the "extra week" in the fourth quarter and fiscal year 2020 in an effort to provide comparable results on a year-over-year basis. Organic financial results exclude contributions from Smart Foodservice, which was...
Smart Foodservice Warehouse Stores to Become US Foods CHEF’STORE
US Foods Holding Corp. announced that effective March 1, Smart Foodservice Warehouse Stores will be rebranded as US Foods CHEF’STORE. US Foods acquired Smart Foodservice Warehouse Stores in April 2020 to accelerate growth in the cash and carry market. This change will combine the power of the US Foods brand with the assortment, pricing and customer service of Smart Foodservice Warehouse Stores and pave the way for an enhanced customer experience.
“Our new CHEF’STORE branding represents the next step in our continued partnership with US Foods,” said Derek Jones, president, US Foods CHEF’STORE. “Smart Foodservice Warehouse Stores and US Foods share a commitment to...
Church's Chicken Succeeds from Full-Scale Digital Transformation
It has been nearly two years since Church's Chicken first embarked on a digital transformation focused on reaching new guests with digital media and creating loyalty with engaging experiences at every interaction. In that time frame, digital has been a key driver of the brand's positive sales and growth, with 2020 turning in impressive results from this key focus area. The popular QSR chicken brand saw a 540% increase in Order Ahead sales in 2020 compared to the previous year, third-party delivery sales increased by 77% in the same period, and web digital conversion rate reached 16%. Like much of Church's steady growth and success over the past five years, the secret lies in a strong spirit of innovation and a renewed ability to be quick and nimble in adapting to both challenges and opportunities.
"The digital success we are seeing now is because of plans and initiatives first put in place in 2019," shares Alan Magee, Vice President of Digital Marketing & Technology for Church's. "The industry has been shifting to...
Sysco Launches New and Exclusive, Chef-Tested Menu Concepts Through Cutting Edge Solutions Platform
Sysco Corporation, the leading global foodservice distribution company, introduced nine innovative concepts through its Cutting Edge Solutions platform. These new and differentiated products are available exclusively from Sysco and provide foodservice operators with unique menu offerings, innovative meal solutions and environmentally friendly cleaning and beverage products.
“Now more than ever, foodservice operators must provide differentiated offerings to succeed in this challenging operating environment. Sysco’s Cutting Edge Solutions platform offers...
ANALYSIS: Shell Egg Prices Drop 10.5% WoW as Retail Demand Eases, Inventory Grows
U.S. shell egg prices fell 10.5% this week, thanks to easing retail demand and mounting inventory levels. While sources have been reporting fair to fairly good retail sales, they have...
ANALYSIS: Do Large Forward Sales Help Future Spot Prices -- Strip Loin Rally in 2021
The January rally in strip loins has been fierce, with gains of 27 percent so far since the start of the year, compared to...
Foodservice and Retail Get Creative for an Unprecedented Valentine’s Day
While the pandemic has caused disruptions to gatherings and going out, there remains a special significance around Valentine’s Day. Consumers are committed to celebrating the holiday, even if traditional celebrations must be altered. According to the National Retail Federation, about 52% of adults plan to celebrate Valentine’s Day this year, spending a total of $21.8 billon.Nearly three-quarters of consumers celebrating the holiday this year feel it is important to do so given the current state of the pandemic. The virus is still a focus, with 74% indicating it will directly impact their plans for the holiday. About 24% of consumers plan to gift their loved one with an evening out, the lowest in...
Wingstop Brings Fan Favorite Flavors Back to Menus Nationwide
Wingstop is bringing back three popular remix flavors to menus nationwide as a limited time offering. Starting on Valentine's Day, one of the brand's busiest days of the year outside of the Big Game, fans will once again have access to Hot Lemon, Bayou BBQ and Lemon Garlic, available hand-sauced-and-tossed on bone-in and boneless wings as well as crispy tenders.
Valentine's Day marks a hallmark event for Wingstop as fans look to share flavor with the ones they love. This year, fans can stay in, relax, and get Wingstop's bold distinctive flavor via...
Londoners Driving Trend for Delivery of Snacks and Coffee
There’s a new food trend emerging in the capital. Latest analysis from The NPD Group shows a significant rise in families in London ordering snacks and coffee delivered to their home. Demand from families for snacking delivered by foodservice operators and delivery platforms like UberEats and Deliveroo increased strongly, up +95% in London in 2020 versus 2019. This is significantly ahead of the +11% increase in orders placed by families across the country as a whole.
London currently represents one quarter of the UK’s snacking via delivery market. Dominic Allport, Insights Director (Foodservice), The NPD Group says “During 2020, London was the only region to see a rise in snacking via delivery. The main reason is the greater use of delivery subscriptions such as...
Restaurant Brands International Reports Full Year and Fourth Quarter 2020 Results
Restaurant Brands International Inc. reported financial results for the full year and fourth quarter ended December 31, 2020.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "We are confident that our efforts in food and beverage quality, restaurant experience, digital leadership and brand building will be beneficial to returning our business to the growth we know we are capable of in all three brands. While we ended 2020 with about the same restaurant count as 2019, we have been working closely with our network of franchisees on...
American Egg Board Partners with Wendy's to Drive Breakfast Menu Trial
The American Egg Board (AEB) recently joined forces with Wendy's to help further the brand's successful expansion into the breakfast daypart, partnering on a custom social media influencer program that leveraged consumer affinity for eggs to drive off-premise breakfast consumption in key markets.
"Wendy's was built on fresh, real ingredients — and our recently launched breakfast menu is no exception," said John Li, vice president of culinary innovation at Wendy's. "Our partnership through the AEB's new program helped us expand on consumer demand for a high-quality breakfast by highlighting...
GrubMarket Raised $90 million in 2020 to Accelerate Nationwide Expansion
GrubMarket announced it completed $90 million of financing in an oversubscribed Series D round in 2020, from funds and accounts managed by BlackRock, ACE & Company, Celtic House Venture Partners, Sixty Degree Capital, The Strand Partners, Reimagined Ventures, Trinity Capital Investment, Madison Bay Capital Partners, Marubeni Ventures, GGV and others.
"I want to thank all of our supporters. Series D round was many times oversubscribed as we originally intended to raise no more than $30 million. We have made quite some efforts to keep this round under $100 million. Such oversubscription continues to happen in...
Aramark Reports First Quarter Earnings
Aramark reported first quarter fiscal 2021 results.
"The resilience of our business through this dynamic period is rooted in the exceptional performance of our people on the front-lines, serving clients—many of which are essential businesses—across the globe," said John Zillmer, Aramark's Chief Executive Officer. "It has been remarkable to watch our team pull together in the face of such adversity, and I am proud of what we have been able to achieve as a result. Our ability to...
Nathan’s Famous Opens 100th Ghost Kitchen Since Pandemic Began
Nathan’s Famous, Inc., the American tradition serving New York favorites for more than 100 years, announced today the opening of its 100th ghost kitchen since June 2020. The ghost kitchens, which offer both the Nathan’s Famous menu as well as the recently launched virtual kitchen concept Wings of New York, are open across the globe, ranging from markets like Dubai to Florida. Both brands currently have signed agreements to open an additional 45 locations in the coming months...
Nathan's Famous, Inc. Reports Third Quarter Results
Nathan's Famous, Inc. (NASDAQ:NATH) today reported results for the third quarter of its 2021 fiscal year that ended December 27, 2020.
For the fiscal quarter ended December 27, 2020:
Grubhub Reports Fourth Quarter And Full Year 2020 Results
Grubhub Inc., a leading online and mobile food-ordering and delivery marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2020 and also posted a letter to shareholders on its investor relations website. For the fourth quarter, the Company reported revenues of $504 million, which is a 48% year-over-year increase from $341 million in the same period last year. Gross Food Sales grew 52% year-over-year to $2.4 billion, up from $1.6 billion in the fourth quarter of 2019.
"We remain steadfast in our support of our restaurant partners as the ongoing pandemic continues to weigh on their businesses and their local communities. From increased marketing spend and reduced commissions, to winterization grants and free digital ordering tools, we continue to be fully committed to...
Yum China Reports Fourth Quarter and Full Year 2020 Results
Yum China Holdings, Inc. reported unaudited results for the fourth quarter and year ended December 31, 2020.
Impact of COVID-19 Outbreak and Mitigation Efforts
Fourth quarter operations improved sequentially from the third quarter. The Company's primary focus continues to be safety, efficiency and sales recovery. To counter the pandemic impact, we ran strong value and digital campaigns to drive traffic. Delivery and takeaway remained popular, while dine-in recovered sequentially. Proactive cost structure realignment, productivity improvements and one-off cost savings helped...
Insight Into Key Markets Ahead of the ‘Big Game’ as Foodservice Takes Unique Approach to Gameday
Heading into the big game last February, the coronavirus was just a blip on everyone’s radar, the focus was on ordering wings and appetizers for the pre-game party or planning a trip to a local sports bar.
This year, many Americans will be enjoying the big game in smaller groups and while meat lover’s pizzas and chicken wings will be devoured all night, trips to restaurants are out of the cards for some and businesses are shifting their takeout specials to cater...
Grubhub Inc. (NYSE: GRUB), a leading online and mobile food-ordering and delivery marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2020 and also posted a letter to shareholders on its investor relations website. For the fourth quarter, the Company reported revenues of $504 million, which is a 48% year-over-year increase from $341 million in the same period last year. Gross Food Sales grew 52% year-over-year to $2.4 billion, up from $1.6 billion in the fourth quarter of 2019...
Yum! Brands Reports Fourth-Quarter Results
Yum! Brands, Inc. (NYSE: YUM) today reported results for the fourth-quarter and year ended December 31, 2020. Fourth-quarter GAAP EPS was $1.08, a decrease of (32)%. Full-year GAAP EPS was $2.94, a decrease of (29)%. Fourth-quarter EPS excluding Special Items was $1.15, an increase of 15%. Full-year EPS excluding Special Items was $3.62, an increase of 2%.
DAVID GIBBS & CHRIS TURNER COMMENTS
David Gibbs, CEO, said “Yum! enters 2021 a stronger company primed to profitably grow system sales this year and beyond. Despite the challenges of 2020...
Mintel Announces U.S. Foodservice Trends for 2021
Mintel, the experts in what consumers want and why, has today (February 3, 2021) announced four key trends for the US foodservice industry, including analysis, insights, and recommendations centered around consumer behavior over the next 12 months.
Uber Eats Launches Eat Local: A Renewed Commitment to US Local Merchants
Uber Technologies, Inc. announced its Eat Local campaign, renewed efforts to support independent restaurant owners and operators in 2021 as the industry continues to face COVID-related challenges.
“We’re here for restaurants at Uber Eats—as we have been since the start of the health crisis,” said Stephane Ficaja, head of Uber Eats and Delivery for the US & Canada. “Today we’re committing $20 million through various initiatives at a critical time, renewing promises we’ve made on pricing, and will remain focused on our partners’ success in the months ahead.”
Details of the support package include...
Performance Food Group Reports Second Quarter and First Half Fiscal 2021 Results
Performance Food Group Company announced its second quarter and first half fiscal 2021 business results.
“I am proud of how our Company has continued to navigate through the current market conditions and distinguish ourselves as leaders in the food distribution industry,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “Despite the new challenges the holiday season brought for our business, our Foodservice segment still delivered a solid quarter while continuing the smooth integration of Reinhart. Looking ahead, I believe PFG is well-positioned to...
Chipotle Announces Fourth Quarter And Full Year 2020 Results
Chipotle Mexican Grill, Inc. reported financial results for its fourth quarter and fiscal year ended December 31, 2020.
Fourth quarter highlights, year over year:
Impossible Foods Cuts Suggested Grocery Store Prices 20%
Thanks to tremendous growth and economies of scale over the past year, Impossible Foods is cutting suggested retail prices by 20% for grocery stores throughout the United States.
The price cuts bring the company’s suggested retail prices for Impossible Burger to $5.49 for patties and $6.99 for a 12-oz. package. (On-shelf prices may vary depending on location and retailer.)
Impossible Foods is strongly encouraging the roughly 17,000 grocery stores, supermarkets and retailers that sell Impossible Burger to pass the savings to...
Church's Chicken Reveals New 5-Year Strategic Plan
During the Conversation Tour held just weeks ago for Church's Chicken®, the brand came together with franchisees in various regions of the country to recap achievements for the past year and set the tone on the next five years. Strong communications and teamwork have been essential to Church's impressive upward trend since 2016. Now, the brand is looking to leverage the power of its franchise network to reach even higher benchmarks for 2021 through 2026.
"Every year has been better than the last for us – in sales and in average check – and that's in spite of a global pandemic and while we have been rolling out various operational changes and improvements. That success is 100% rooted in the determination and hard work we have put into...
Tracy Skeans Promoted to Chief Operating Officer at Yum! Brands
Yum! Brands, Inc. announced the promotion of Tracy Skeans to Chief Operating Officer. Skeans, who has been with the Company for 20 years, has served as Chief Transformation and People Officer since 2016. Skeans’ promotion to COO formalizes the expanded role she is already playing to drive cross-brand collaboration on operational execution, people capability and customer experience imperatives that will fuel same-store sales and net-new unit growth. Skeans will retain her current responsibilities as Chief People Officer and continue reporting to Yum! Brands Chief Executive Officer David Gibbs.
“Tracy and I share a people-first vision and passion for elevating the customer and employee experience, which makes her the perfect choice for Chief Operating Officer in our next phase of growth,” said Gibbs. “Tracy has been an invaluable strategic partner to me and our global leadership team as we have...
Taco Bell Introduces Build Your Own Cravings Box
For just $5, Taco Bell is introducing a new Build Your Own Cravings Box. The offer will be available exclusively to Taco Bell Rewards Beta members on the Taco Bell app starting today, and to other Taco Bell digital customers on February 11.
Stretching customers' dollars further than ever before, the Build Your Own Cravings Box is the ultimate Taco Bell eating experience. Packaged in a convenient, recyclable paperboard box, guests can create their meal exactly as they please from a selection of favorites. With the click of a button, 18 different variations appear on Taco Bell's mobile and website, showcased in the following categories...
PODCAST: PLNTing the Seeds - Restaurateur Spike Mendelsohn
This week on Market Digest Laura is joined by restauranteur, entrepreneur, and advocate for food and plant Spike Mendelsohn. Spike gives a glimpse of life as a restaurant owner during the pandemic, why he decided to jump into...
Sysco Reports Second Quarter Fiscal 2021 Results
Sysco Corporation announced financial results for its 13-week second fiscal quarter ended December 26, 2020.
Domino's Promotes Delivery Offerings for Super Bowl Sunday
Large gatherings and parties may seem like a distant memory, but one thing remains the same: on the biggest game day of the year, football fans from all over the country will take a seat around their respective TVs and enjoy pizza, and Domino's corporate and franchise-owned stores are ready to deliver.
Whether you're ordering a meal for one or for your entire household, when it comes to delivering a satisfying game day feast, there's only one play to remember: Domino's $5.99 mix and match deal. Football fans can please everyone by choosing two or more of the following menu items for just...
Ryan Ostrom to Join Jack in the Box as New Chief Marketing Officer
Jack in the Box Inc. announced that Ryan Ostrom will join the company as Executive Vice President and Chief Marketing Officer, effective February 1, 2021. Ostrom joins the company with over 15 years of marketing and branding experience, with a passion for driving innovation through creative consumer strategies. Most recently, Ostrom served as Chief Brand Officer for General Nutrition Centers (GNC), where he helped lead the transformation of GNC from a traditional retailer to a global digital brand by modernizing their marketing, eCommerce, innovation, and product development.
Previously, Ostrom served roles at Yum! Brands, Kenmore, Craftsman & DieHard at Sears Holding Corporation, and Reebok. During his time at Yum! Brands, Ostrom helped...
Auntie Anne's Introduces New Pretzel Rollups Featuring Bacon and Turkey
Auntie Anne's is here to help consumers shake up mealtime with something different. With more than 40% of consumers feeling challenged in having to plan different meals on a daily basis, Auntie Anne's is taking away the stress of mealtime and adding golden pretzels, cheddar, bacon, and turkey to everyday meals and snacks with all-new Pretzel Rollups.
Available in Turkey & Cheddar and Bacon & Cheddar, the Pretzel Rollups are made for pairing with dips and beverages, and no prep is required. Delivery is also available through...
SONIC Upgrades Its Classic Cheesesteak for a Limited Time
SONIC Drive-In is warming up the cold season with the all new Extra-Long Ultimate Cheesesteaks, layered with SONIC's golden Tots.
The Original Extra-Long Ultimate Cheesesteak bundles seasoned steak and grilled onions, topped with cheddar cheese, zesty cheese sauce and crispy, golden Tots all in an extra-long bun. The Spicy Extra-Long Ultimate Cheesesteak kicks it up a notch with...
Field Roast Introduces Plant-Based Hot Dog
Greenleaf Foods, SPC, owner of Field Roast Grain Meat Co (“Field Roast”), is bringing a new level of flavor exploration to the plant-based hot dog category with the launch of its Field Roast Signature Stadium Dog, a plant-based premium hot dog that is naturally smoked. It is the first plant-based hot dog to be made from pea protein, rather than soy, and will be the first plant-based hot dog to be sold alongside traditional beef dogs when it becomes available in retail stores this spring.
Starting today, hot dog lovers can get a first taste of the Field Roast Signature Stadium Dog at select Wienerschnitzels, the world’s largest hot dog chain. The Field Roast Plant-Based Dog will appear on menus as...
UB Consulting: Foodservice in Hindsight and Into the Future
Many predictions made back when the pandemic began became true for the protein industry. From the immediate assumption of a demand shift from foodservice to retail, or the...
Valentine’s Day Spending to Total $21.8 Billion
Just over half (52 percent) of U.S. adults plan to celebrate Valentine’s Day this year, spending a total of $21.8 billion, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
“There is no question the pandemic has disrupted many aspects of Americans’ daily interactions and activities,” said NRF President and CEO Matthew Shay. “However, there remains a special significance around Valentine’s Day, and consumers are committed to...
ANALYSIS: Boneless Chicken Breasts in the Crosshairs
One of the first things that any Econ student quickly gets acclimated with is how the quantity of a given commodity that manufacturers want to sell and the quantity of consumers who wish to buy, interact with one another...
Chipotle Tests Carside Pickup
Chipotle Mexican Grill announced it is testing Chipotle Carside at 29 restaurants in California. For the first time, fans can get Chipotle's real food delivered right to their parked cars using the Chipotle app.
How it Works
When ordering from participating restaurants, guests can select "Carside Pickup" in the checkout section of the Chipotle app.
After the order is confirmed, the following instructions will be displayed...
Church's Chicken Unveils New Signature Texas Tenders
Church's Chicken announced the arrival of its newest boneless chicken category offering: Church's Texas Tenders. Starting Jan. 28, Church's new Texas Tenders will be a permanent menu item, meeting the growing demand for high-quality boneless chicken and on-the-go menu options following the successful launch of the Church's Chicken Sandwich in October 2020. The Texas Tenders are big and bold, taking inspiration from Church's home state of Texas, and are debuting in the Tenders 'N Shrimp meal, a limited-time combo offering available for Lent.
"The evolution of our tenders with the introduction of our new Texas Tenders gives our guests even more reasons to choose Church's," said Brian Gies, chief marketing officer for Church's. "With the new Texas Tenders 'N Shrimp meal, we're combining two menu items packed with...
The Dark Clouds of 2020 Yielded Silver Linings for U.S. Restaurant Industry
Throughout one of the most challenging years for U.S. restaurants the industry demonstrated its resiliency against a variety of headwinds throughout 2020 by rising from a -35% traffic decline in April to a -11% visit decrease in December compared to year ago, reports The NPD Group. Although mandated dine-in restrictions have held back all restaurant segments, particularly full service, consumer demand for restaurant meals and the ability to serve the demand with a host of off-premises services, like digital ordering, delivery, drive-thru, and carry-out, are the silver linings that enable the industry to persevere.
Restaurant digital orders, which were growing prior to the pandemic, increased by +19% in January of last year to +145% in December compared to year ago, according to NPD’s daily tracking of consumers' use of restaurants and other foodservice outlets. Like digital ordering...
McDonald's Reports Fourth Quarter And Full Year 2020 Results
McDonald's Corporation announced results for the fourth quarter and year ended December 31, 2020.
"2020 will be remembered as one of McDonald's most challenging, yet inspiring, moments in our long history. The resilience of the McDonald's System was on display – making safety and service a priority, putting our customers and people first, and running great restaurants," said McDonald's President and Chief Executive Officer Chris Kempczinski. "Against an uncertain backdrop, we are committed to staying true to our values and our brand purpose to feed and foster communities. By investing for the future and leveraging competitive strengths within...
Starbucks Reports Q1 Fiscal 2021 Results
Starbucks Corporation reported financial results for its 13-week fiscal first quarter ended December 27, 2020. GAAP results in fiscal 2021 and fiscal 2020 include items that 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.
“I am very pleased with our start to fiscal 2021, with meaningful, sequential improvements in quarterly financial results despite ongoing business disruption from the pandemic. Investments in our partners, beverage innovation and digital customer relationships continued to fuel our recovery and...
Americans to Eat Record 1.42 Billion Chicken Wings for Super Bowl LV
The COVID-19 pandemic has changed our lives in many ways. One thing that hasn’t changed: America’s love for chicken wings. This is no more apparent than on Super Bowl weekend, when Americans will devour a record 1.42 billion wings while watching the Kansas City Chiefs and Tampa Bay Buccaneers battle for the Lombardi Trophy.
This figure is up 2% from last year, according to the National Chicken Council’s annual Wing Report.
There are several reasons for the uptick, says National Chicken Council spokesman Tom Super. “If you think about it, restaurants like wing joints and pizza places were built around takeout and delivery, so they didn’t have to...
Over 40 U.S. States Lost Restaurant Jobs in December as Pandemic Continues to Hit Industry
The National Restaurant Association said the downward slide in restaurant business conditions continued in December 2020 with the bottom dropping out on restaurant employment in the month, with 400,000 jobs lost across the country.
State-by-state, 42 states and Washington, D.C. had job losses in the month with only 8 states seeing employment increases. The biggest loss came in California, losing 85,800 eating and drinking place jobs.
Michigan (-46,600), New York (-33,000) and Minnesota (-32,800) also shed a significant number of restaurant jobs in December, the Association shared...
Cargill Expands Value-Added Protein Footprint Through Acquisition of ProPortion Foods
Cargill, the global food, agricultural, financial and industrial products company, announced the expansion of its value-added protein footprint through the acquisition of ProPortion Foods, a food manufacturer that supplies a variety of innovative fully cooked products, portion control steaks and marinated ready-to-grill meats.
Through the purchase, which closed in December 2020, Cargill gains two further-processed protein plants in Round Rock, Texas and Vernon, California. The Round Rock and Vernon facilities will deliver a variety of quality, fully cooked protein products for Cargill’s...
White Castle Introduces New Package Design for Sliders Sold in Grocery and Retail Stores Nationwide
On the heels of a record year – and a record decade – for its retail division, White Castle is introducing a brand-new look for its retail packaging.
The nation's first fast-food hamburger chain began rolling out the new design on select packages in October. By the end of March, all retail packages will sport the new look, which features a consumer-approved contemporary design with clean lines and bold colors to create consistency across the portfolio of products. The new design also appeals to customers' sense of taste with...
National Restaurant Association Releases 2021 State of the Restaurant Industry Report
The National Restaurant Association released its 2021 State of the Restaurant Industry Report, which measures the impact of the coronavirus pandemic on the restaurant industry and examines the current state of key pillars including technology and off-premises, labor, and menu trends across segments based on a survey of 6,000 restaurant operators and consumer preferences from a survey of 1,000 adults. The report also provides a look at the path to recovery for chains, franchises, and independents and the year of transition ahead.
Key findings regarding the impact of coronavirus on the restaurant industry include...
Post Holdings Announces Partnership with Hungry Planet
Post Holdings, Inc., a consumer packaged goods holding company, announced a partnership with Hungry Planet Inc., a plant-based meat company. In this new partnership, Post’s Foodservice and Refrigerated Retail units will work closely with Hungry Planet to expand the distribution of Hungry Planet’s industry-leading range of plant-based meats to address the rapidly growing demand for alternative protein solutions across all meal occasions.
Hungry Planet produces a full range of chef-crafted plant-based meats that match the taste and texture of conventional meat. Based in St. Louis, Hungry Planet meats are distributed throughout the United States via...
Spicy Chicken Nuggets and Mighty Hot Sauce are Returning to McDonald's
McDonald's Spicy Chicken McNuggets and Mighty Hot Sauce will be returning to participating restaurants nationwide February 1 for a limited time. These limited time menu offerings include:
Boston Market Brings the Heat to the Chicken Sandwich Wars with All-New Nashville Hot
Boston Market is heating things up this winter, with its first-ever crispy chicken sandwich. Available for a limited time, guests can fire up their taste buds with the Nashville Hot Crispy Chicken Sandwich, plus two additional Nashville Hot menu offerings, including a spicy new take on its rotisserie chicken. A new, fire-free Crispy Chicken BLT Sandwich and Crispy Chicken with White Gravy Meal, plus returning guest favorites Chicken Marsala and Roasted Garlic & Herb Chicken, are also hitting Boston Market restaurants for a limited time.
"2020 is behind us, and so are the chicken sandwich wars. We've been bringing the heat in our rotisserie ovens for more than 30 years, and our new Nashville Hot Crispy Chicken Sandwich proves that...
Chick-fil-A Heats Up Menu with Grilled Spicy Chicken Deluxe Sandwich
Chick-fil-A is kicking off the year by offering a grilled version of a spicy favorite. Starting January 25, Chick-fil-A is introducing the Grilled Spicy Chicken Deluxe Sandwich, available for a limited time at participating restaurants nationwide. The sandwich delivers the same flavor guests love from the current Chick-fil-A spicy offerings, now available in a grilled option.
The Grilled Spicy Deluxe was first developed and tested in Fall 2017 in select markets, where it received positive feedback from guests. It is the first limited-time entrée to be featured on the national menu since...
ANALYSIS: The Tug of War Between Chicken Wings and Boneless Breasts
During October of last year, we explored the growing price disparity between jumbo boneless breast quotations and jumbo-sized whole wings...
REPORTER: Q3 Pork: Hot Prices and Frigid Freezer Inventories
With COVID-19 concerns continuing throughout the third quarter and into the fourth quarter of 2020, areas such as boning-line labor, foodservice and recreational activities, cold storage, and production were all affected. The Pork Carcass Cutout noted an uncharacteristic price rally between July and October 2020, increasing by around 31.6%. Looking at the past, the 5-year and 10-year averages saw declines around 12% during this timeframe, while in 2019 the cutout saw a moderate increase of 3.8% for the respective time period...
REPORTER: Egg Product Markets Rally to Second Half Highs
Though retail demand for shell eggs has run significantly above average since the peak pandemic period, foodservice demand has struggled to return to normal volumes. As much as 22% of all U.S. production is destined for this channel, around 7% being shell eggs and the rest going into the sector in the form of egg products.
Processors have been forced to reduce outputs over the last eight months, evident in the USDA’s Eggs Processed Under Federal Inspection report, which showed total cases broken running at about 1.1 million a week from...
REPORTER: Chicago Gets Creative to Help Restaurant Industry
This article was originally featured in the Winter 2021 Edition of Urner Barry's Reporter magazine.
The restaurant industry has encountered its share of adversity during the COVID-19 pandemic. From lockdowns to dine-in restrictions, the industry has had to roll with the ever-changing landscape. Many restaurants have survived thus far by pivoting away from their standard way of business in favor of al fresco dining. Conventional patios, sidewalks, parking lots and even streets have been re-imagined for today’s dining customer. Outdoor dining has been an attractive way for...
PODCAST: Lifting Others as We Grow - Mark Winkler, US Foods
This week Mark Winkler of US Foods discusses their innovations and initiatives through the COVID-19 pandemic. Between setting up ghost kitchens, helping small businesses adapt to a lack of indoor dining, and...
While Chicken Sandwich Wars in the U.S. Intensify, Burgers Still Rule the Roost
The Consumer Confidence Index Improved in February
Get to Know Players in the Plant Protein Market: Victory Hemp Foods
From Animal Meat to Fungi, U.S. Consumers Tap into A Host of Sources to Get Protein into Their Diets
COVID-19 Disruptions Create New Areas of Opportunity and Risk for the Poultry Industry
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