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Starbucks Announces Leadership Promotions
Starbucks Corporation announced several leadership appointments to advance the company's strategic business goals and position Starbucks on a clear growth path for the future. The company announced the promotions of John Culver as group president, North America and chief operating officer, Michael Conway to group president, International and Channel Development, and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa. These changes are effective as of June 28, 2021.
“As we plan for the 2022 fiscal year and beyond, Starbucks is fortunate to have a deep, talented and diverse team of senior executives we are able to tap to help lead us forward,” said Kevin Johnson, president and chief executive officer. “These appointments support our Growth at Scale agenda to bring about...
Eat Beyond Portfolio Company Plant Power Raises $7.5 Million
Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative food sector, announced that its portfolio company, The Plant Power Restaurant Group, parent company of Plant Power Fast Food ("Plant Power"), recently secured a $7.5 million Series A financing round. California-based Plant Power is a quick service restaurant ("QSR") brand offering a comprehensive plant-based menu with meals that are served in biodegradable packaging.
This is thought to be the largest ever financing round for a plant-based fast-food franchise. The new capital will enable Plant Power to open seven more vegan restaurants in the United States including...
Popeyes Launches Its First Ever Loyalty Program, Popeyes Rewards
Popeyes has unveiled its first-ever loyalty program. To celebrate the Popeyes Rewards launch, the brand is introducing a special “Welcome To The Popeyes Fam” Meal available exclusively for loyalty members on the Popeyes App or online only, featuring 8 pieces of Popeyes signature bone-in chicken, 1 large side & 4 biscuits. Each Popeyes Rewards member who purchases the exclusive meal June 17th to July 1st will receive 500 bonus points to use towards future Popeyes orders.
Popeyes Rewards is designed so that members can earn with each transaction. Those who join the program will unlock things like...
Inspire Brands Names Kate Jaspon Chief Financial Officer
Inspire Brands announced changes within the Chief Financial Officer role. Kate Jaspon has been named Chief Financial Officer of Inspire following the announced retirement of David Pipes. Jaspon was previously CFO of recently acquired Dunkin’ Brands where she spent more than 15 years in Finance and Treasury roles.
Jaspon will transition into her new role this month and will oversee all accounting and reporting, tax, financial planning and analysis, internal audit, as well as manage Inspire’s relationships with lending institutions, investors, and the financial community.
“Working with Kate while Dunkin’ and Baskin-Robbins were joining the Inspire family, it became clear that she was...
Restaurant Brands International Announces Election of Directors
Restaurant Brands International announced the results of the vote on the election of directors at its Annual Meeting of Shareholders held on June 16, 2021.
The total number of eligible votes represented in person or by proxy at the meeting was 403,132,197 representing 87% of all eligible votes.
RBI's proxy circular provided for twelve nominees to the Board of Directors. The twelve individuals nominated by the Board of Directors for election as directors of RBI were elected, each to hold office until...
Starbucks Announces Leadership Promotions
Starbucks Corporation announced several leadership appointments to advance the company’s strategic business goals and position Starbucks on a clear growth path for the future. The company announced the promotions of John Culver as group president, North America and chief operating officer, Michael Conway to group president, International and Channel Development, and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa. These changes are effective as of June 28, 2021.
“As we plan for the 2022 fiscal year and beyond, Starbucks is fortunate to have a deep, talented and diverse team of senior executives we are able to tap to help lead us forward,” said Kevin Johnson, president and chief executive officer. “These appointments support...
Nearly Half of Canadians Plan to Dine On-Premises Now that Pandemic Restrictions are Relaxed
Canadians were anxiously awaiting COVID lockdowns and restrictions to be eased and lifted, and so were restaurant operators. It’s been a long 15 months and 46% of Canadians told The NPD Group that they plan to physically eat at a restaurant, bar, or coffee shop now that COVID-19 restrictions have been eased. Restaurant operators are eager to greet them back and pick-up their dine-in business, which was most impacted by mandated pandemic restrictions.
Dine-in or on-premises restaurant orders/visits have improved since the beginning of the pandemic but, as a basis for comparison, were still down -85% in April 2021 compared to April 2019. Off-premises orders and visits, which include...
Bojangles Expands in Texas
Bojangles is opening up shop in two major cities in the Lone Star State. The chain has signed franchise agreements with Sajib Singha and Asish Baidya of SAT Restaurant Group, LLC and Khalid Siddiqui of LASH Foods, LLC each to open three in the Dallas-Fort Worth and Houston markets, respectively.
Bojangles will also simultaneously open 15 corporately owned restaurants in the Dallas-Fort Worth market.
“Get ready, Texans, because our delicious chicken and biscuits are headed your way, and we can’t wait to serve you up some real deal, Southern flavor like only Bojangles does,” said Jose Costa, Bojangles’ Chief Growth Officer. “We’re proud to be working alongside...
US Foods Summer Scoop Lineup Takes Aim at Restaurant Labor Shortage
US Foods Holding Corp. announced the launch of Summer Scoop™. Themed “Dining Out Is In Again,” Summer Scoop features 18 on-trend, versatile, profit-driving products designed to reduce back-of-house preparation and skilled-labor demands. With 62% of operators saying they are concerned about finding skilled workers during the pandemic, restaurant operators struggle to balance the resurgence of on-site diners and existing take-out and delivery operations ramped up during the pandemic. Summer Scoop helps address these challenges with innovative products that can drive higher profits and help operators save approximately 85-95% in back-of-house preparation time compared to making from scratch, helpful for restaurants operating with fewer and less experienced kitchen staff.
“Through each phase of the pandemic, our commitment to helping our restaurant operators ‘Make It’ with product innovation and expert resources has remained our number one priority,” said Stacey Kinkaid, vice president of product development and innovation for US Foods. “As restaurants quickly move closer to...
Denny's Introduces New Menu Items for Summer
As Americans begin to return to dining rooms, Denny's has a new set of options for those looking for a taste of summer, including the introduction of a monthly Spotlight Stack, a highlighted pancake dish from Denny's collection of fresh buttermilk pancake stacks.
First up on the menu just in time for Flag Day and July Fourth: The Red, White and Blue Pancake Breakfast kicks off summer with festive colors and flavors for dine in, delivery or take out. The new creation features a stack of pancakes crafted with fresh buttermilk and blueberries and topped with freshly sliced strawberries, a drizzle of cream cheese icing and a dollop of sweet, whipped cream, served up with...
The Road to Recovery for U.S. Restaurant Chain Customer Transactions Varies by Market
Geography matters when it comes to pandemic recovery for U.S. restaurant chains. A mix of factors, like pandemic-related restaurant restrictions, the closing or opening of units, or chain performance, even the weather or event, can impact restaurant chain customer transactions in a specific market area, reports The NPD Group.
For example, restaurant chain customer transaction declines in the Dallas-Fort Worth (DFW) designated market area improved from double-digit declines last year to -4% in May 2021 compared to May 2019, a pre-pandemic basis of comparison. DFW ranks in the top 10 markets to recover from the steep customer transaction declines caused by the pandemic last year. In addition to Texas lifting COVID restaurant restrictions in March, the market's May customer transactions reflect...
Plant-Based Protein Shipments to U.S. Restaurants and Foodservice Outlets Grew by 60% in April
As pandemic-related restaurant restrictions lift across the U.S., chefs and foodservice operators are refreshing their menu offerings and recipes. Plant-based proteins are one of the food categories they’re using to help update, reports The NPD Group. Shipments of plant-based proteins from foodservice distributors to commercial restaurants increased by +60% in April 2021 compared to the same month a year ago, when the category realized declines because of pandemic restrictions.
Shipments are up +16% compared to April 2019, according to NPD’s SupplyTrack®, which tracks every product shipped from leading distributors to more than...
CKE Restaurants Adds Global Development Capability, Accelerates Growth Trajectory
CKE Restaurants Holdings, parent company of Carl’s Jr. and Hardee’s, announced the appointment of Matthew Walls as the company’s first Chief Global Development Officer. In this new role, Walls will be responsible for creating a Global Development Center of Excellence to increase the footprint of both brands domestically and internationally.
“Walls, as he is known in our industry, is experienced in delivering progressive business development strategies, innovative designs and solid partnerships with franchisees,” said Chief Executive Officer Ned Lyerly. “His global experience, strategic mindset and track record for...
Shake Shack Appoints Katherine Fogertey as Chief Financial Officer
Shake Shack announced that Katherine Fogertey has been appointed to serve as the Company’s Chief Financial Officer, effective June 14, 2021. Katie joins Shake Shack’s executive leadership team and will be responsible for leading financial operations across the Company, including accounting and control, financial planning and analysis, operations finance, investor relations and external reporting.
Katie brings to Shake Shack more than 15 years of financial and investment experience, including equity and derivatives research, financial modeling and forecasting, and a deep understanding and focus on the restaurant industry.
Randy Garutti, CEO of Shake Shack, stated, "I am excited to welcome Katie to the Shake Shack leadership team as...
DoorDash Expands To Japan
DoorDash the largest on-demand logistics platform for door-to-door delivery in the U.S., announced its official launch in Japan, beginning with Sendai. This marks the company's first market expansion in Asia and third country outside the U.S., including Australia and Canada.
As DoorDash continues to invest in international growth in its commitment to empower local economies, Japan, one of the most restaurant-dense countries in the world, offers a unique market opportunity for the company to support local businesses with...
PODCAST: Diving Into the Seafood Market with Jim Kenny
This week on Market Digest we are joined by Urner Barry COO and Market Reporter Jim Kenny. Jim and Laura discuss rising prices for seafood items, COVID-19 recovery for seafood and foodservice, consumer demand levels, logistical nightmares from production to shipping, and more.
Wendy’s Becomes Next ‘Meme Stock’ as Price Jumps Thanks to Reddit Users
Yesterday, Foodmarket.com covered Wendy’s announcement of the return of its Summer Strawberry Chicken Salad for a limited time. While some Wendy’s fans may be excited about the salad’s return, a significant jump in stock price on June 8 was quite unexpected for many analysts.
Wendy’s stock climbed by 25.85% at closing, reaching the $28.87 per share mark and up from $22.94 at closing on June 7. following the announcement and help from the ‘meme stock’ community on Reddit.
A few months ago, Reddit users were famously...
Nathan’s Famous Launches Brand’s First Natural Casing Footlong Hot Dog
Nathan’s Famous announced the creation of its first footlong hot dog. The footlong hot dog features all the makings of a Nathan’s Famous hot dog – the natural casing and the Nathan’s Famous secret spice recipe.
"Indulgence isn’t a bad thing, especially when it comes to a Nathan’s Famous hot dog,” states James Walker, Senior Vice President, Restaurants. “Whether you like it plain, or with just a little Nathan’s Famous mustard, or you go all out with our world-famous chili cheese dog, a Nathan’s Famous hot dog is certainly...
VIDEO: State of the Market Episode 19: The Egg Market
This week on State of the Market, Brian Moscogiuri and Market Digest Host Laura Zinger discuss Proposition 12, pandemic egg demand shifting to foodservice, summer demand levels, and more.
PODCAST: UK Beef Chats Episode 19
This week on UK Beef Chats Market Reporter Mike Nesbitt updates us on market performance, labor struggles as more businesses start to reopen, and a few logistical constraints for the supply chain.
QDOBA Mexican Eats Appoints Jim Sullivan to Chief Development Officer
QDOBA announced the appointment of Jim Sullivan, a seasoned restaurant industry executive with more than 25 years of experience in real estate, franchise development, and site acquisition management, to chief development officer. In his new role, Sullivan will lead all restaurant development activities, including market planning, site selection, real estate negotiations, franchise sales and more to support the company's aggressive growth plan.
"Jim brings a unique perspective and strong leadership approach, backed by a proven track record of successfully accelerating franchise growth for some of the nation's leading restaurant concepts," said Keith Guilbault, CEO of QDOBA. "His expertise and years of experience in growing brands similar to...
Wendy's Brings Back Seasonal Summer Strawberry Chicken SaladWendy's is bringing back its Summer Strawberry Chicken Salad nationwide. The salad is created with ingredients like hand-picked strawberries, crisp Applewood smoked bacon, Tuscan cheese blend topped with a Champagne Vinaigrette–all on top of a bed of freshly chopped lettuce and spring mix.
"From our Jalapeño Popper Chicken Salad to our Southwest Avocado Salad and now, our new Summer Strawberry Chicken Salad, we consistently lean into on-trend ingredients to give our customers flavorful salad options they can't find anywhere else," said Carl Loredo, Wendy's U.S. Chief Marketing Officer. "Others have chosen to...
Wendy’s Opens Its Doors In the United Kingdom
Wendy’s has arrived in the United Kingdom. After much anticipation, Wendy’s opens its doors in Reading, offering signature US menu items that fans know and love, including the Baconator®, Dave’s Single™, the Spicy Chicken Sandwich and of course the Frosty® dessert. These favorites will be joined by an exclusive range of items only available in the UK, including the Veggie Stack, Veggie Bites, and Avocado Veggie Salad.
Wendy’s selected Reading as it is a great community with a strong employee base and is near a major transportation hub, offering the right amount of foot traffic across dayparts. The Company will continue to...
Beef Quarterly Q2 2021: Record Prices, but Will They Last?
Many key beef production and consumption areas across the world are currently experiencing high or record prices for beef or cattle. We explore what is driving this and whether it will last. There are also several other issues affecting global beef markets at present.
The rollout of vaccines, the transition to robust economic growth, and the advance of the northern hemisphere summer see many areas experiencing lower Covid case numbers and higher economic activity. With restrictions being eased, foodservice sales are also...
Chili's Introduces New Chicken Sandwich
For a limited time only, the Chili's Chicken Sandwich is here. Starting today, My Chili's Rewards members across the nation can try the new chicken sandwich on its exclusive 3 for $10 menu through June 30.
The sandwich is a buttered and toasted brioche bun, drizzled with Chili's new Secret Sauce, topped with a tomato slice, a piece of hand-battered and hand-breaded fried chicken breast drizzled with more Secret Sauce, topped with lettuce and the other half of the buttered and toasted brioche bun. Also...
PODAST: UK Beef Chats Episode 18
This week on UK Beef Chats, Mike Nesbitt gives us an update on UK foodservice reopening and how it's helping rebalance the market, affecting EU Imports and Exports, and more!
ANALYSIS: April Chicken Cold Storage Holdings: A Continuation of a Familiar Trend
Several months ago, we assessed the near universal downturn in cold storage holdings exhibited by key lines within the chicken complex, and by the looks of the USDA’s most recent report...
Arthur Treacher’s Franchise Re-launching as Virtual Kitchen Concept
Nathan’s Famous announces the addition of Arthur Treacher’s to the brand’s portfolio, now available as a ghost kitchen concept. Arthur Treacher’s, which was founded in 1969, offers hand-dipped fish, chicken and French fries. The menu, which has been revamped by Nathan’s Famous, will highlight the brand's traditional menu items while also featuring upgraded proteins, more contemporary builds, and includes a focus on shrimp.
"We are thrilled to provide operators across the country with the opportunity to add Arthur Treacher’s to their portfolio,” states James Walker, Senior Vice President, Restaurants. “Nathan’s Famous and Arthur Treacher’s have...
Sonic Goes Cajun with New Popcorn Chicken Po’ Boy
Sonic Drive-In introduces the new limited time only Popcorn Chicken Po’ Boy, a new sandwich influenced by the bold flavor of Louisiana cuisine.
For just $2.99, the Popcorn Chicken Po’ Boy starts with Sonic's white meat Jumbo Popcorn Chicken®, and is topped with shredded lettuce, sliced tomatoes, diced onions, mayo and creamy blackened mayo, all layered in a warm and soft, hinge-sliced hoagie roll.
“Cajun delicacies are known for delicious blends of seasonings that...
Bourbon Black Pepper Smokehouse Chicken Returns this Summer at Church's Chicken
Church's Chicken, announced the revival of a true original for this summer's Smokehouse Season: The Bourbon Black Pepper Smokehouse Chicken. Church's Smokehouse Season is an annual event that guests have embraced since its launch five years ago. As guests seek a return to the comfort and familiarity of a more traditional summer, Church's is delivering those classic flavors that guests know and love with a kick. Fans will once again be able to get their Smokehouse fix all summer long from May 27 through August 29, 2021.
"Our first Bourbon Black Pepper Smokehouse program delivered record-breaking sales and traffic in 2019, and we've continued to hear from guests who have been clamoring for it ever since," said Brian Gies, Chief Marketing Officer for Church's Chicken. "The unique flavor profile...
Technomic Reveals Steady Performance Improvement for U.S. Foodservice
Technomic released the April TIndex (Technomic Index), an index that provides a benchmark to help analysts and industry leaders track the health of the foodservice industry in the United States.
“For the month of April, the TIndex increased to 94.6 from 94.1 in March, showing strengthening results especially within the restaurant segments,” explains Joe Pawlak, managing principal at Technomic. “This represents the continued performance improvement and recovery of the industry as...
Yum! Brands Undertakes to Acquire Dragontail Systems
Yum! Brands and Dragontail Systems Limited, an innovative provider of technology solutions for the food industry, announced that they have entered into a binding agreement under which Yum! Brands would acquire Dragontail by way of a share scheme of arrangement in accordance with Australian corporations law (referred to as the Scheme).
If the Scheme is successfully implemented, the addition of Dragontail to Yum! Brands’ growing technology portfolio is intended to give Yum! Brands the ability to scale Dragontail’s artificial intelligence (AI) kitchen order management and delivery technology globally.
Australia-based Dragontail’s platform is focused on optimizing and managing the entire food preparation process from order through delivery. Its AI-based solution automates...
Applegate Announces Partnership with The New York Yankees
Applegate has been named a Proud Partner of the New York Yankees. As a Proud Partner, Applegate will be stepping up to the plate with 100% natural deli meats, pizza toppings, and snacking options.
"The Yankees have such a rich history of being leaders in the league, with the highest of standards, and a drive to be the best," said Nicole Glenn, Applegate Vice President, Brand Strategy and Innovation. "We strive for similar standards and share a mutual drive at Applegate, which is why...
Plant-Based Fast Food Chain Completes $7.5 Million Series A Raise
Plant Power Fast Food has completed its $7.5 million Series A capital raise led by Helia Capital USA, Inc. (a subsidiary of Fusion Ventures), Eat Beyond Global Holdings and Batta Foods with additional funding from Aileen Getty.
Co-founder and co-CEO Zach Vouga said that the funds will be used by the plant-based fast-food restaurant chain to continue to execute its expansion plans with a focus on new corporate unit development. Vouga also spoke about finding the right investment partners...
Red Robin Gourmet Burgers Reports Results for the Fiscal First Quarter
Red Robin Gourmet Burgers reported financial results for the quarter ended April 18, 2021.
Wingstop Announces Minority Investment in Wingstop UK Franchisee
Wingstop announced a minority investment in the UK business, which is operated by its UK franchisee, Lemon Pepper Holdings Ltd. This investment follows strong performance in the UK and underscores the brand's confidence in the market as a key growth lever for global expansion.
"We are thrilled to partner with the Lemon Pepper team as they grow their brand presence in the UK, a market with tremendous long-term potential," said Wingstop CFO Michael Skipworth. "We believe this strategic use of our capital will strengthen the development pipeline in that market and I am excited to...
KFC Unveils New Modernized Packaging, Available Early this Summer
As KFC continues to grow, it is always keeping tabs on ways to improve its customers' experience. The company's latest innovation efforts have been focused on creating KFC's new sleek, clean and modernized packaging that will show up in restaurants early this summer.
The new packaging reflects the brand's identity with a more modern take on the KFC signature red and white stripes. It will feature reheating instructions – because KFC's fried chicken is just as good the next day – and...
The updated buckets will showcase a fresh "Fried with Pride" design featuring...
Bojangles Expands Executive Team with Two Tenured Development Leaders
Bojangles announced today that Byron Chandler, an experienced QSR industry real estate executive, has been named chief development officer for the restaurant chain best known for its chicken, biscuits and Legendary Iced Tea®. In this new role, he will be responsible for leading Bojangles’ real estate, construction and design teams and implementing the company’s strategic plans to build its real estate portfolio for future growth. Chandler will begin on June 7.
“With recent strategic growth announcements, it’s clear that demand for the Bojangles brand is growing,” said Jose Armario, CEO of Bojangles. “Byron’s proven track record of leadership in restaurant development will...
Cracker Barrel Reports Third Quarter Fiscal 2021 Results
Cracker Barrel Old Country Store reported its financial results for the third quarter of fiscal 2021 ended April 30, 2021.
Third Quarter Fiscal 2021 Highlights
Church's Chicken Announces Promotion Of Russ Sumrall To SVP, International Strategic Development
Church's Chicken®, the global quick-service restaurant chain and its international sister brands Texas Chicken™ and Church's Texas Chicken™, recently announced the promotion of QSR industry expert Russ Sumrall to SVP, International Strategic Development. The promotion is part of Church's aggressive development plans to double their presence across APAC, EMEA, and the Americas, with strengthened operations and an exciting new image.
In his previous role as VP, International Development & Franchisee Profitability, Russ Sumrall negotiated deals to launch Texas Chicken into seven countries in East Africa, Cambodia, and Qatar. In addition, he executed numerous new development agreements in Canada, growing Church's Texas Chicken restaurants across many...
ANALYSIS: Chicken Boneless Breasts and the Jumbo/Medium Spread
Since their inception to the Urner Barry price sheet back in late 2009, medium-sized boneless breast quotations have...
Jack in the Box Names New Vice President of Investor Relations
Jack in the Box Inc. continues the strategic transformation of its leadership team with the addition of 14-year franchise restaurant industry veteran Chris Brandon, IRC, as vice president of investor relations, effective June 7, 2021.
Brandon joins Jack in the Box from Domino’s Pizza, where he served in a variety of communication roles over the past 14 years, including most recently as director of investor relations. His past roles at Domino’s included responsibility for legislative affairs as well as media and public relations and franchisee events. Previously, Brandon held various sales and marketing positions with NASCAR between 2003 and 2007.
“Chris has proven his ability to build trusting relationships with key members of the investment community and brings deep knowledge of the franchise restaurant industry, with...
Sysco Announces Agreement to Acquire Greco and Sons
Sysco Corporation announced it has entered into an agreement to acquire Greco and Sons, a leading independent Italian specialty distributor in the United States from Arbor Investments and the Greco family. Greco and Sons operates 10 distribution centers servicing 22 geographies nationwide, with approximately $800 million in annual revenue.
Founded in 1990, Greco and Sons imports and distributes a full line of premium quality food and non-food products as well as manufactures value-added specialty meat products. Upon completion of the transaction, Greco and Sons will operate as a standalone division within Sysco, similar to...
Domino's Announces CFO Transition Plan
Domino's Pizza announced that Stuart A. Levy will be leaving the Company to pursue other opportunities. While he is stepping down from his role as Executive Vice President and Chief Financial Officer effective immediately, Mr. Levy will continue with the Company in an advisory capacity until August 31, 2021 to ensure a smooth transition.
The Company has commenced a search for the next CFO with the assistance of Heidrick & Struggles. Effective immediately, Ritch Allison, Domino's Chief Executive Officer, will assume oversight of a newly established Office of the CFO comprised of Ryan Goers, Vice President, Finance, Global Financial Planning and Analysis; Juan Jose Joachin, Vice President, Finance Operations; and Jessica L. Parrish Vice President, Corporate Controller and Treasurer until...
Panera Bread Announces Plans for New Bakery-Cafe Design
Panera unveiled its next-generation Panera bakery-cafe restaurant design. Panera is redefining its modern experience to serve today's guest. This includes enhanced digital capabilities, personalized options and more drive-thru access for an increasingly off-premise world; yet, the brand is still betting on dine-in with comfortable seating around its signature fireplace and a focus on its unique craft bakery experience within a vibrant, warm and welcoming environment.
The new restaurant design builds upon Panera's innovation in digital and positions the concept to continue to thrive in off-premise channels including Delivery, Drive-Thru and Rapid Pick Up® – both in-cafe and...
Taco Bell Brings Back the Naked Chicken Chalupa to Disrupt the Chicken Wars
Taco Bell is providing fans with a different way to enjoy chicken. Starting on May 20, consumers nationwide will be able to enjoy Taco Bell's Naked Chicken Chalupa.
"When you look at the industry, you see the same sandwich being introduced as new everywhere, but at Taco Bell, being a follower isn't our philosophy. We've listened to our fans and we're confident this is the perfect time to bring back this fan-favorite," said Liz Matthews, Taco Bell's Chief Food Innovation Officer. "The Naked Chicken Chalupa is just the beginning of Taco Bell's chicken offerings this year with...
Burger King Enters the Chicken Sandwich Wars with New Ch'King
The new Burger King hand breaded Ch’King will be available nationwide starting June 3.
Burger King first announced that it would be replacing its chicken sandwich with a new version in February. The hand breaded Ch'King comes in original or spicy, is made with a signature sauce, and served with pickles on a potato bun.
Burger King has been working on the new sandwich since 2019. The quick service restaurant has been testing out the sandwich in some markets to make sure that the new product...
Canadian Restaurant Industry Learns to Pivot and Adapt Despite Visit Loss Due to COVID-19
It has been over a year since the COVID-19 global pandemic began and the Canadian foodservice industry, one of the business sectors most impacted by restrictions, has had to learn to adapt. In the quarter ending March 2021, keeping in mind that the global pandemic was declared in mid-March of last year, total foodservice traffic in Canada was down -9% compared to same quarter year ago when visits were down -11% versus prior year, reports The NPD Group. Although there is improvement from last year, it’s also important to note that since the first quarter of 2019 through the first quarter of 2021, 326,000 foodservice visits (or orders) have been lost, according to NPD’s continual tracking of the Canadian foodservice industry.
The quick service segment, which prior to the pandemic was already equipped to efficiently handle off-premises operations, like carry-out and drive-thru, ended the first quarter of this year with...
Jack in the Box Names New Chief Operating Officer
Jack in the Box continues the strategic transformation of its leadership team with the addition of new Senior Vice President and Chief Operating Officer Tony Darden, who brings more than 25 years’ experience in multi-unit, quick-service restaurant operations.
Darden joins Jack in the Box from MOOYAH Burgers Fries and Shake, where he served as president for the past two years. He has also held chief operating officer titles at Taco Bueno and Sun Holdings, the fourth largest franchisee in the U.S. with a portfolio of more than 1,000 restaurants for brands including...
Bojangles Hires Seasoned Supply Chain Leader Katie Radtke
Bojangles, known for its iconic Southern food in more than 760 restaurants throughout the Southeast, announced it has named Katie Radtke as vice president of supply chain. An accomplished supply chain leader with global credentials, Radtke will oversee food and packaging, distribution, logistics and quality assurance in her new role.
“Katie is a transformational supply chain leader, and her extensive experience in developing strategies to optimize the supply chain for nationally recognized restaurant franchise brands will be critical as...
Performance Food Group Company to Acquire Core-Mark
Performance Food Group and Core-Mark Holding announced that they have entered into a definitive agreement pursuant to which PFG will acquire Core-Mark in a stock and cash transaction.
Under the terms of the transaction, which has been unanimously approved by the Board of Directors of each company, Core-Mark shareholders will receive $23.875 per share in cash and 0.44 PFG shares for each Core-Mark share. The transaction values Core-Mark at approximately $2.5 billion, including...
Pizza Hut Canada Partners with Beyond Meat to Launch Beyond Italian Sausage
Beyond Meat and Pizza Hut announced an expansion of their global partnership to bring new plant-based protein menu items to Canada. Beginning today, fans in the west end of the GTA (Mississauga, Etobicoke, Milton and Oakville) and Edmonton can order three new offerings featuring Beyond Italian Sausage™ Crumble. The new Beyond Meat topping is exclusive to Pizza Hut and available on pizzahut.ca or through the Pizza Hut app for contactless delivery or pick-up.
The delicious new menu items include...
Carl's Jr. and Hardee's Ramp Up Chicken Menu with Three New Sandwiches
Carl's Jr. and Hardee's are introducing their brand-new Hand-Breaded Chicken Sandwich platform, reimagining their famous Hand-Breaded Chicken Tenders into three new builds available to consumers nationwide. Known for their impossible to ignore flavors and high-quality food innovations — from the first-ever 4/20 CBD burger at Carl's Jr. to the early introduction of Beyond Meat — they are no strangers to Hand-Breaded Chicken since launching their tenders more than a decade ago, with over 118 million sold per year on average.
Carl's Jr. and Hardee's Hand-Breaded Chicken sandwiches are brought to life at each location, with 100% premium white meat breast filet that is marinated in 13 signature seasonings and dipped in...
Sysco Offers Two New Foodie Solutions Toolkits as Summer Approaches
Sysco Corporation, a leading global foodservice distribution company, announced that it has launched two new online toolkits to its Foodie Solutions platform. The Labor & Hiring and Summer Solutions Toolkits are the latest in a series of carefully curated tools to help foodservice operators succeed while generating additional revenue and meeting consumer expectations.
Labor & Hiring Toolkit – As restaurants reopen amidst a tight labor market, the Labor & Hiring toolkit provides a comprehensive resource for hiring, training and retaining restaurant employees, including tips such as taking action on employee feedback and offering incentives to improve retention. This comprehensive toolkit also features...
Dine Brands Global Announces Executive Appointments
Dine Brands Global, the parent company of Applebee’s Neighborhood Grill & Bar® and IHOP® restaurants, announced that Vance Chang has been named Chief Financial Officer, effective June 14, 2021.
Most recently, Vance served as CFO for Exer Urgent Care. Before that, he was CFO at YOGAWORKS. He has also held positions at Pressed Juicery, Moelis & Company, Oracle and Deloitte & Touche. Vance received a degree in accounting from the University of Washington and an MBA from...
Jack in the Box Reports Second Quarter FY 2021 Earnings
Jack in the Box reported financial results for the second quarter ended April 11, 2021 and provided fiscal year 2021 financial guidance.
Jack in the Box total revenues increased 19 percent to $257.2 million, compared to $216.2 million in the comparable period ended April 12, 2020, driven by 20.6 percent growth in system same-store sales. Company same-store sales increased 14.5 percent in the second quarter, reflecting average check growth of 19.9 percent and a 5.4 percent decrease in transactions. Franchise same-store sales increased 21.3 percent.
Net earnings more than tripled to $35.9 million, or $1.58 per diluted share, for the second quarter of fiscal 2021, compared with...
Beyond Meat Expands Presence at Walmart with Beyond Meatballs and Summer Grilling Pop-ups
Beyond Meat, a leader in plant-based meat, announced its second expansion of product offerings this year at Walmart. This June, Beyond Meatballs™ will be available for the first time at 2,100 Walmart stores in which Beyond Meat products are already sold across the country. This rollout is the second major Beyond Meat expansion at Walmart in 2021, following the launch of Beyond Sausage® Hot Italian and Cookout Classic™ in stores earlier this year.
As demand for plant-based meat options continues to grow, Beyond Meat has increased retail momentum across the U.S., Europe, Australia and other global markets in an effort to increase worldwide accessibility to delicious plant-based meat products made without GMOs. As the key summer grilling season kicks off, consumers have continued to...
U.S. Restaurant Carry-Out and Delivery Digital Orders Soar During the Pandemic
Digital ordering was a lifeline for consumers and U.S. restaurants, particularly full service restaurants, during the pandemic, reports The NPD Group. In the year ending March 2021, which covers a full year since the start of the pandemic, restaurant digital orders grew +124% compared to prior year. Digital orders for carry-out, which represented 62% of all digital orders, increased by +130%, and digital orders for delivery grew by +142% in the period compared to year ago and held 38% share of total restaurant digital orders, according to NPD’s ongoing foodservice market research, CREST®.
Digital ordering offered full service restaurants, which operated under varying degrees of mandated dine-in restrictions throughout the pandemic, much needed...
Grubhub Unveils Grubhub Direct, a Commission-Free Platform
Grubhub announced Grubhub Direct, a platform to help independent restaurants better compete online through commission-free online ordering and access to their customer data. With nearly 10 years building branded ordering and loyalty experiences for large restaurant chains, Grubhub is leveraging its expertise to help independent restaurants develop their own customized ordering websites, empowering them to market directly to their diners, receive their diner data and manage their branded website—all without any marketing fees.
"We're constantly listening and learning from our independent restaurant partners, and we've heard them. Restaurants want more options to build their brands online and maintain a loyal base of diners through their own channels," said Matt Maloney, founder and CEO of Grubhub. "That's why we're opening...
Wendy's Reports First Quarter 2021 Results
The Wendy's Company reported unaudited results for the first quarter ended April 4, 2021.
"We are increasing our 2021 financial outlook meaningfully across all key financial metrics, driven by an outstanding first quarter that underscores our continued momentum and the overall strength of our business," President and Chief Executive Officer Todd Penegor said. "The robust growth in our business continued in the first quarter of 2021 as sales significantly exceeded our expectations and fueled our restaurant economic model, leading to...
ANALYSIS: European Egg White Prices Hit Highest Levels Since 2015 AI Market HighsUrner Barry's European dried egg white prices have hit the highest levels seen since ATH's reached in 2015, while the global market was dealing with...
CKE Restaurants Opens 1,000th International Restaurant
CKE Restaurants Holdings, Inc., the parent company of Carl’s Jr. and Hardee’s, announced the opening of its 1,000th international restaurant in Madrid, Spain, as they continue to bring bold burgers and flavors to all corners of the globe. The opening marks a key milestone for the brand as it continues to expand its international footprint across Europe, the Americas, Asia, the Middle East, Australia and more.
The opening of the new Carl’s Jr. restaurant in Madrid marks the 23rd restaurant in Spain. CKE is continuing to expand across the European market, all the while, delivering new, innovative customer experiences and...
Chipotle Increases Wages and Provides Path to Six Figure Compensation
Chipotle Mexican Grill announced it is increasing restaurant wages resulting in a $15 average hourly wage by the end of June. In addition to best-in-class benefits and a competitive hourly rate, Chipotle's crew members can advance to a Restaurateur, the highest General Manager position, in as little as three and a half years, with average compensation of $100,000 while leading a multi-million-dollar growing business.
The wage increases for new and existing hourly and salaried restaurant employees will be rolled out over the next few weeks and will result in hourly crew member starting wages ranging from $11-$18 per hour.
Chipotle has also introduced...
PODCAST: UK Beef Chats Episode 16
This week on UK Beef Chats Mike Nesbitt and Jay Alletto discuss the activity of the UK foodservice industry and how it relates to the beef market, Brexit’s affect on the import market, and more. Featured reporter is Gary Morrison.
US Foods Reports First Quarter Fiscal 2021 Earnings
US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the first quarter of fiscal 2021. In this press release, the company refers to certain organic financial results. Organic financial results exclude contributions from Smart Foodservice, which was acquired on April 24, 2020.
First Quarter Fiscal 2021 Highlights
KFC and Franchisees Hiring 20,000 Restaurant Employees
Kentucky Fried Chicken announced strong Q1 earnings results last week, as customers increasingly chose the comfort and convenience of drive-thru, carry-out, and delivery of classics like KFC's Family Fill-Up and new offerings like the Kentucky Fried Chicken Sandwich. Now, as demand continues to grow, the fried chicken chain hopes to hire 20,000 permanent full-time and part-time company and franchisee restaurant positions across the nation.
KFC's strong earnings announcement highlighted 14 percent growth in Q1 and same-store sales growth of 11 percent on a two-year basis, highlighting the need to fill 20,000 permanent positions nationwide. The open positions will vary by restaurant but will include positions at all levels including...
Shake Shack Announces First Quarter 2021 Financial Results
Shake Shack reported its financial results for the first quarter ended March 31, 2021, a period that included 13 weeks.
Randy Garutti, Chief Executive Officer of Shake Shack, stated, “Spring has ushered in a great energy around the country and in our hometown of New York City. With COVID cases stabilizing and more regions steadily loosening restrictions, we are optimistic that improving trends can continue for our industry."
Garutti continued, “In the first quarter and so far through fiscal April, the positive momentum of our financial recovery continued. Total revenue was $155.3 million in the first quarter, up...
Ruth’s Hospitality Group Reports First Quarter 2021 Financial Results
Ruth’s Hospitality Group reported unaudited financial results for its first quarter ended March 28, 2021 and provided a business update.
Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc., commented, “Our impressive first quarter results reflect not only accelerating sales trends, but also strong margins as our operators continued to execute the efficiency and capacity utilization initiatives that we implemented in 2020. I would like to express my...
Wendy's Launches New Bourbon Bacon Cheeseburger for National Hamburger Month
Wendy's is kicking off National Hamburger Month with the introduction of the Bourbon Bacon Cheeseburger – a new addition to the Made to Crave sandwich lineup.
"Wendy's is the home of the number one bacon cheeseburger* for a reason: our beef is always fresh, never frozen and our Applewood smoked bacon is cooked in an oven daily to bring the Wendy's signature quality and flavor that we feel is a cut above the competition," said John Li, Vice President of Culinary Innovation for The Wendy's Company. "For our Bourbon Bacon Cheeseburger, our culinary innovation team created...
Papa John’s Announces First Quarter 2021 Financial Results
Papa John’s International announced financial results for the first quarter ended March 28, 2021.
First quarter 2021 highlights compared to first quarter 2020
ANALYSIS: Turkey Buyers Climb the Rungs of the Seasonal White Meat Ladder
Despite the unique set of challenges that 2021 has presented to the turkey industry, market participants take solace in the fact that...
Bojangles and Chaac Foods Restaurants Announce Major Development Agreement
Bojangles, known for its iconic Southern food in more than 760 restaurants throughout the Southeast, announced a new business venture with experienced operator Chaac Foods Restaurants in what they’re calling the 40 and 40 deal.
The agreement calls for Chaac Foods to open 40 new Bojangles stores over the next seven years, including 20 in Georgia, five in Tennessee and 15 in the Orlando, Florida, area, marking a return for the Bojangles brand. Chaac Foods will also acquire 40 existing corporate-owned Bojangles locations across the Georgia, South Carolina and...
Butterfly Acquires a Majority Stake in Leading Premium Egg Company Pete and Gerry’s Organics
Butterfly, a Los Angeles-based private equity firm specializing in the food sector, announced that it has acquired a majority stake in Pete and Gerry’s Organics, LLC, the nation’s leading producer of organic, free-range and pasture-raised eggs under the Pete and Gerry’s Organic®, Nellie’s Free Range® and Consider Pastures™ brands. Terms of the transaction were not disclosed.
Pete and Gerry’s is Butterfly’s latest investment within its “seed to fork” approach to investing in food across agriculture, aquaculture, food and beverage products, food distribution and foodservice. Pete and Gerry’s CEO, Jesse Laflamme, will retain an ownership position and continue to help...
Performance Food Group Company Reports Third-Quarter and First-Nine Months Fiscal 2021 Results
Performance Food Group Company announced its third-quarter and first-nine months fiscal 2021 business results.
“Our Company’s strong momentum and recovery has continued into calendar 2021,” said George Holm, PFG’s Chairman, President & Chief Executive Officer, “and I am extremely pleased with the progress we have made as many markets reopen for business. As we expected, the pace of rebuilding our workforce accelerated to support sales trend improvement. We believe that these expenses put us in a solid position to maintain our top-line performance through the rest of fiscal 2021 and into fiscal 2022. Despite a strong January and February in the year ago period...
Maple Leaf Foods Reports First Quarter 2021 Financial Results
Maple Leaf Foods reported its financial results for the first quarter ended March 31, 2021.
"Maple Leaf remains committed to delivering shared value, and to building an enduring company, with a vision to be the most sustainable protein company on earth," said Michael H. McCain, President and CEO. "We continue to deliver on our commitments. As we cross the one-year mark of the COVID-19 pandemic, I continue to be inspired by our dedicated front-line team members who come into work each day to produce the food we all need to stay healthy. Our number one priority is to keep our people healthy during this global crisis, and beyond. At the same time, we are delivering on our financial commitments, including both significant revenue growth and margin expansion in...
Dine Brands Global Reports First Quarter 2021 Results
Dine Brands Global, the parent company of Applebee's Neighborhood Grill + Bar® and IHOP® restaurants, announced financial results for the first quarter of 2021.
“Dine Brands first-quarter 2021 results demonstrate positive momentum across our company. Thanks to the strength of our brands, and the resilience and collaboration of our franchisees and team members, we have a sharper focus on digital and marketing capabilities, operational basics and a steadfast dedication to the safety of...
Del Taco Restaurants Reports Fiscal First Quarter 2021 Financial Results
Del Taco Restaurants reported fiscal first quarter 2021 financial results for the 12-week period ending March 23, 2021 and provided a business update.
John D. Cappasola, Jr., President and Chief Executive Officer of Del Taco, commented, “We are pleased to have delivered a very strong first quarter that sets us up for a great year at Del Taco. Although the operating environment remains very difficult due to continued COVID related impacts and very challenging labor availability, our team is doing an outstanding job growing sales by serving guests through our drive-thru, take-out, and delivery channels while managing...
Burger King Rolls Out Green Packaging Pilot Program
Burger King is committed to being part of a more sustainable future by reducing its environmental footprint. That’s why, the company is continuing its journey by launching a green packaging pilot program focused on finding scalable solutions for eight of its most-used, guest-facing items including forks, spoons, knives, straws, drink lids, Frypods®, Whopper® wrappers and napkins.
The guest packaging will be tested in 51 company-owned restaurants in Miami and utilizes alternative materials, such as Frypods® made with renewable unbleached virgin paperboard; cutlery made with cPLA, a plant-based plastic; and napkins made with 100 percent recycled fiber. Burger King will also be testing paper and plant-based straws along with strawless lids, which could potentially eliminate up to...
Sysco Reports Third Quarter Fiscal 2021 Results
Sysco Corporation announced financial results for its 13-week third fiscal quarter ended March 27, 2021.
Subway Appoints Donagh Herlihy to Global Chief Digital and Information Officer
Subway restaurants announced that Donagh Herlihy has joined the company as its new Global Chief Digital and Information Officer. In this role, Herlihy is responsible for overseeing the company's global technology teams and initiatives to deliver modern, timely and effective platforms for Subway franchisees and guests.
Herlihy has more than 20 years of experience leading global digital and e-commerce teams in the food, retail and restaurant industries, previously holding executive positions at major brands, including Bloomin' Brands, Avon Products and the Wrigley Company. His expertise includes...
Sonic Puts a Southwestern Twist on Classic Menu Items
SONIC® Drive-In puts a Southwestern twist on two of its classic menu items to create the new Twisted Texan Cheeseburger and Footlong Quarter Pound Coney.
The Twisted Texan Cheeseburger starts with a 100% pure beef patty and is topped with SONIC’s Signature chili, American cheese and crispy onion strings, all layered on a toasted bakery bun.
The Twisted Texan Footlong Quarter Pound Coney puts a spin on another iconic SONIC menu item...
Restaurant Brands International Reports First Quarter 2021 Results
Restaurant Brands International Inc. reported financial results for the first quarter ended March 31, 2021.
José E. Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "Our first quarter results signal our return to growth with system-wide sales surpassing Q1 2019 and net restaurant growth nearly matching our best-ever Q1 performance in 2018. We are excited by the global growth potential of our brands and are encouraged by this early momentum as we work toward a return to historic levels of unit growth this year."
"Our home market recovery from the pandemic is well-underway, including at Tim Hortons in Canada where our business fundamentals have continued to improve as we execute on our Back to Basics plan, which included exciting product launches in Q1 like our new dark roast coffee and...
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