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Chipotle Tests Smoked Brisket in Select Markets

Chipotle Mexican Grill announced it is testing Smoked Brisket at 64 restaurants throughout Cincinnati and part of Sacramento, California. Chipotle's latest protein features smoked beef brisket that is seasoned with a special spice blend, seared on the grill every day, and finished with a sauce made with Mexican peppers.

"We're thrilled to offer a new, responsibly-sourced brisket that tastes terrific and meets our industry leading Food with Integrity standards," said Chris Brandt, Chief Marketing Officer. "The richness of...

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Dec 1 8:15 AM, General News



ANALYSIS: Shell Egg Prices Drop Amid Lackluster Thanksgiving Demand, Slowing Foodservice

After holding steady for nearly a month, shell egg prices have come under pressure this week amid lackluster Thanksgiving demand and...

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Nov 30 8:17 AM, Urner Barry


UK Restaurants Look Set to Recover as Consumers Still Prefer to Dine Out

The NPD Group says amid the severe and unprecedented COVID-19 business pressures affecting Britain’s out-of-home (OOH) foodservice industry, the delivery channel has been a welcome success story. Comparing the January-to-October period this year with the same period in 2019, delivery is up 14% in visit terms to 804 million and has seen a 40% increase in spend to £5.7 billion. However, although delivery has met a need during this unprecedented period of enforced home living, working and entertaining, NPD’s research shows... 

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Nov 25 8:24 AM, General News


UK Consumer Spending to Fall by Nearly 14.9% in 2020

Total UK consumer spending is expected to fall by a staggering £183.6 billion (14.9%) this year due to the COVID-19-induced lockdowns, according to new research from Mintel’s flagship British Lifestyles report. This equates to a drop in spending of around £6,600 per household – with the biggest decreases occurring in the transport, foodservice, and holiday industries. Consumer spending in these three categories will fall by an astonishing £140.1 billion in total, or just over £5,000 per household – representing around 77% of the overall decline in consumer spending this year.

But it seems there is light at the end of the tunnel for these three categories as they are expected to bounce back the strongest in 2021: spending on transport will increase by...

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Nov 25 8:24 AM, General News


Top Meat, Poultry, Egg and Seafood Price Action Broken Down in the Latest Market Briefing 

Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals...

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Nov 25 8:23 AM, Urner Barry


Hormel Foods Reports Fourth Quarter and Fiscal 2020 Earnings

Hormel Foods Corporation reported results for the fourth quarter of fiscal 2020. All comparisons are to the fourth quarter of fiscal 2019 unless otherwise noted.

The impact of the Sadler's Smokehouse acquisition (March 2020) is excluded in the presentation of the fourth quarter of fiscal 2020 non-GAAP measures of organic volume and organic net sales. The impact of the CytoSport divestiture last year is excluded from...

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Nov 24 8:45 AM, General News


The NPD Group Reveals Consumers' Top Plant-Based Product Choices 

When it comes to eating plant-based foods, consumers are definite in which types of these foods they want to eat at home and which they want to eat from a restaurant or foodservice outlet, finds The NPD Group. About 93% of meals or snacks that include milk alternatives are consumed at home and 7% are at/from a restaurant or foodservice outlet.

When it comes to meat analogues, restaurants and other foodservice outlets have the largest share of eating occasions at 78% while at home represents...

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Nov 24 8:19 AM, General News


Nielsen: Thanksgiving Highlights COVID-19 Divide 

In a year unlike any other, even Thanksgiving is not immune to polarization in the U.S.

As we confront ever-rising COVID-19 cases and physical and financial restraints, this year’s Thanksgiving festivities will look and feel drastically different, depending on location, generation and the financial impact of the pandemic. Yet from online shopping to price hikes, consumers share commonalities in confronting a Thanksgiving unlike any other.

Americans are almost perfectly split on whether they’re planning to...

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Nov 23 8:16 AM, General News


Denny's Brings Back Thanksgiving Dinner Pack 

Denny's is bringing back its family-style Turkey & Dressing Dinner Pack, offering guests a stress-free spread of traditional holiday favorites, perfect for celebrating at home. Turkey & Dressing Dinner Packs are available for pickup until Wednesday, November 25 at 6 p.m. EST by ordering on Dennys.com or the Denny's app.

Portioned for four people, the Turkey & Dressing Dinner Pack is prepared ready to heat and serve, and features...

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Nov 23 8:15 AM, General News


Jack In the Box Reports Fourth Quarter FY 2020 Earnings

Jack in the Box Inc. reported financial results for the fourth quarter and fiscal year ended September 27, 2020.

Jack in the Box system same-store sales increased 12.2 percent for the quarter. Company same-store sales increased 9.6 percent in the fourth quarter driven by average check growth of 21.9 percent while transactions decreased 12.3 percent. Improvement in company same-store sales as compared with...

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Nov 23 8:14 AM, General News


Postmates Reveals Unprecedented Ordering Trends of 2020

Postmates revealed the unprecedented ordering trends of 2020 and it's clear 2020 was a year like no other.

The year started on a predictable note, with popular New Year's Eve hydration hangover remedies like Gatorade spiking 197% (WoW) on New Year's Day. Customers fell in love with heart-shaped pizzas this year (+1,800% YoY) on Valentine's Day where there was also a 4,462% (WoW) increase in orders for flowers - not too surprising. But in early March, as the global pandemic was declared and shelter-in-place orders began...

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Nov 20 8:25 AM, General News


QDOBA Adds Michael A. Jackson to Its Board of Directors

QDOBA announced that seasoned finance and investment management executive Michael A. Jackson has been added to its Board of Directors.

"We're pleased to welcome Michael to our Board of Directors and are confident that his extensive knowledge and experience in the financial sector will elevate QDOBA to new heights as we head into a new fiscal year," said Keith Guilbault, CEO of QDOBA.

Jackson has over 30 years of experience in the finance industry, specifically in investment management and equity sales. Prior to joining QDOBA's Board of Directors, Jackson served as...

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Nov 19 8:22 AM, General News


Rabobank Global Animal Protein Outlook 2021: Emerging From a World of Uncertainty

After a year full of uncertainties, global animal protein is expected to rise again, as it looks for opportunities.

In 2021, Rabobank anticipates production growth in most regions, with the biggest change taking place in Asia, where the impacts of African swine fever (ASF) are fading. Pork is expected to lead that growth – with a gradual recovery process, as ASF is still active. Poultry and aquaculture are also forecast to grow, followed by beef. Wild-catch seafood, however, is expected to decline.

Global animal protein trade continues to create areas of opportunity and risk, with China...

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Nov 19 8:21 AM, General News


Del Taco Introduces Limited Time Holiday Menu 

Del Taco Restaurants is saying “Happy Tamaledays” with a new slate of seasoned, shredded pork tamales. The festive, expanded menu lineup launches Thursday, November 19, 2020 and includes two tamales for $4, several smothered tamale options, such as Cholula Smothered Tamales, and a Tamale Fiesta Pack. Del Taco’s limited-edition Happy Tamaledays wrapping paper is also back by popular demand with two new custom designs available for purchase at the Del Taco webstore, while supplies last.

Following an authentic, Mexican recipe, Del Taco’s tamales are made with seasoned, shredded pork and fire-roasted salsa, and surrounded by a layer of soft, stone-ground corn masa and...

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Nov 19 8:20 AM, General News


Subway Launches Contactless Curbside Nationwide

Subway is introducing Contactless Curbside pick-up available nationwide at participating Subway restaurants,  so guests have a safe and easy option to get their favorite Footlong sandwiches when and how they want them. Since summer, Subway has brought curbside delivery to more than 11,000 restaurants. Curbside orders are even sealed with a tamper proof sticker and delivered on a tray, ensuring a safe and completely contactless experience.

Requesting Contactless Curbside can be done through placing an order on the Subway App or website. From there, one of Subway's Sandwich Artists makes the order fresh. When the guest arrives...

 

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Nov 19 8:20 AM, General News


Dine Brands Global Appoints John Peyton Chief Executive Officer

Dine Brands Global, Inc., the parent company of Applebee's Neighborhood Grill + Bar and IHOP restaurants, announced today that John Peyton, president and chief executive officer, Realogy Franchise Group, a wholly-owned subsidiary of Realogy Holdings Corp., will be the company’s new chief executive officer, effective January 4, 2021.

Peyton is an experienced franchise veteran who has led global, consumer franchised businesses for over 21 years, most recently at Realogy Franchise Group where he has served as president since 2016. Realogy franchises many of the most recognized brands in the real estate industry, including...

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Nov 18 8:34 AM, General News


Sysco Names Aaron E. Alt Chief Financial Officer

Sysco Corporation named Aaron E. Alt executive vice president and chief financial officer, effective Dec. 7, 2020. Joel Grade, currently executive vice president and chief financial officer, will assume a newly created role of executive vice president, business development. In this capacity, Joel will be responsible for accelerating both organic and inorganic sales growth through new business development, including strengthening future M&A capabilities. Joel’s extensive experience in operations and finance make him uniquely qualified for this role as Sysco looks to accelerate its business transformation.

Alt most recently served as chief financial officer and senior vice president of Sally Beauty Holdings, an international specialty retailer and wholesale distributor of professional beauty supplies, and...

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Nov 18 8:34 AM, General News


Ruth’s Hospitality Group Announces CFO Transition

Ruth's Hospitality Group, Inc. announced that Kristy Chipman has been appointed Chief Financial Officer, effective November 30, 2020. Ms. Chipman will succeed Arne Haak, who will be stepping down from the role. Mr. Haak will remain with Ruth’s Hospitality Group as a strategic advisor through early 2021 to facilitate a seamless transition.

Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc., stated, “Throughout her extensive career, Kristy has demonstrated strong financial leadership through a combination of strategic finance, development, and...

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Nov 17 8:29 AM, General News


Performance Foodservice Launches Proprietary Line of Plant-based Protein Products

Performance Foodservice, a division of Performance Food Group Company, announced the launch of its Green Origin brand, a proprietary line of plant-based protein products. Made from simple ingredients, the Green Origin portfolio includes plant-based burgers, grinds, breakfast sausages, and nuggets. Green Origin products are made exclusively by Greenleaf Foods, SPC, owner of leading plant-based brands Lightlife and Field Roast. With this launch, Performance Foodservice will have one of the largest plant-based Exclusive Brand portfolios in the industry.

“We’re well past the point of plant-based eating as a niche trend,” said Fred Sanelli, senior vice president of marketing and sales at Performance Foodservice. “It has become a significant and growing segment in...

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Nov 17 8:28 AM, General News


Church's Chicken Reinvents Brand Standards Measurement

When Church's Chicken re-imagined its restaurant-level brand standards measurement program to comply with COVID-19 travel restrictions, the goal was simple – make sure restaurants keep a high level of quality and service, without in-person visits from regional management and field teams. In just 60 days, the Global OPS Services team transformed the 5+ hour in-person Operation Excellence Review (OER) into a streamlined, Remote OER visitation that can now be implemented remotely. This enhanced evaluation of a restaurant's operation provides operators a detailed action plan with specific recommendations on improving brand standards. Since these Virtual OERs are much shorter than the standard visit, the brand can now conduct more visits more frequently, allowing the Operations team in the domestic and international business to provide added support for their franchisees.

"COVID-19 has caused us to innovate in so many ways. We realized that we can't send our field teams to the restaurants like we've done for years – we had to figure out how to conduct our visits remotely. These virtual visitations allow the field team to measure the operations using our proprietary mobile app called...

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Nov 16 8:21 AM, General News


Sysco Eliminates Minimum Delivery Requirements and Offers Services to Support Restaurant Industry

Sysco Corporation announced it will eliminate minimum delivery size requirements for customers’ regularly scheduled delivery days as part of the company’s Restaurants Rising campaign. This change is effective on Nov. 16 for all U.S. Broadline, FreshPoint, Buckhead Meat and Newport Meat customers.

Removing minimum delivery requirements is yet another way Sysco is leading the industry in supporting the success of restaurants, providing operators significant added flexibility in managing their business and making it easier to...

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Nov 16 8:20 AM, General News


ANALYSIS: How Bone-In Hams Perform Prior to Christmas

Hams, whether bone-in or boneless, take the limelight across domestic and export markets during the fourth quarter of the year as buyers...

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Nov 13 8:32 AM, Urner Barry


Nathan’s Famous Expands Through Third Party Delivery to Canada

Nathan’s Famous announced the expansion of their menu offerings to Vancouver, Canada. The menu will be available to consumers through Uber Eats third-party delivery only now, and then in approximately two weeks SkinTheDishes and then DoorDash. Nathan’s Famous will offer its classic hot dog and fries as well as its expanded menu featuring premium burgers, hand-dipped chicken favorites and more.

“We are excited to bring the Nathan’s Famous menu to Vancouver, British Columbia for the first time in the brand’s history,” said James Walker, SVP, Restaurants. “We are confident that the brand will...

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Nov 12 8:25 AM, General News


Technomic's Take: What to Expect in Canada in 2021

As we head into 2021, the world of foodservice remains in unprecedented territory as we collectively deal with the immediate and long-lasting impacts of the COVID-19 pandemic. While many unknowns linger as the world anxiously awaits an end to the virus, we do know that those who demonstrate the most versatility in response to industry, consumer and cultural shifts are best set to succeed in the coming year. Read ahead for Technomic’s expert predictions to better equip yourself for what’s to come and how to prepare for a post-pandemic world.

1. The Road to Recovery Steadies

Foodservice will experience the start of a financial recovery in 2021, but sales results across segments will be a mixed bag. Limited-service restaurants will turn...

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Nov 12 8:24 AM, General News


Chipotle to Open Its First Digital-Only Restaurant

Chipotle Mexican Grill announced its first-ever Chipotle digital-only restaurant called the Chipotle Digital Kitchen. Located just outside of the gates to the military academy in Highland Falls, NY, the restaurant will open this Saturday for pick-up and delivery only. The new prototype will allow Chipotle to enter more urban areas that wouldn't support a full-size restaurant and allows for flexibility with future locations.

Digital Kitchen Restaurant Design

The Digital Kitchen concept is focused on accelerating the digital business in non-traditional locations. It is unique because it does not include a dining room or front service line and...

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Nov 11 10:30 AM, General News


Beyond Meat Reports Third Quarter 2020 Results

Beyond Meat, Inc., a leader in plant-based meat, reported financial results for its third quarter ended September 26, 2020.

Third Quarter 2020 Financial Highlights

  • Net revenues were $94.4 million, an increase of 2.7% year-over-year.
  • Gross profit was $25.5 million, or gross margin of 27.0% of net revenues; Adjusted gross profit was $27.3 million, or
  • Adjusted gross margin of 28.9% of net revenues, reflecting exclusion of expenses attributable to COVID-19.
  • Net loss was $19.3 million, or $0.31 per common share; Adjusted net loss was $17.5 million, or $0.28 per common share, reflecting exclusion of expenses attributable to COVID-19.
  • Adjusted EBITDA was a loss...
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Nov 11 8:15 AM, General News


Sweet Earth Foods Partners with U.S. Colleges and Universities to Expand Plant-Based Dining Options

Sweet Earth Foods, a Nestlé Professional brand and award-winning plant-based food innovator, announced their expansion of the PB Triple Play – the first 100% plant-based Bac'n Cheezeburger – and other new plant-based options for students at five premier universities across the U.S., including University of Massachusetts, Notre Dame and Yale. These limited-time offerings will be available on college campuses in November and offered as more permanent menu items in 2021.

Sixty-five percent of Gen Z wants a more "plant-forward" diet, while 79% would eat meatless meals once or twice a week. Now, as more Gen Z students demand plant-based options, colleges search for vegan options that are both plant-powered and flavorful. The PB Triple Play and other...

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Nov 11 8:14 AM, General News


Pizza Hut Announces Partnership with Beyond Meat

Pizza Hut has announced a partnership with Beyond Meat, to bring a plant-based meat pizza to the masses with the nationwide launch of new Beyond Pan Pizzas, the Beyond Italian Sausage Pizza and the Great Beyond Pizza.

This first-in the-category national launch makes plant-based meat pizzas more widely available everywhere, giving consumers more choices and even more reasons to love Pizza Hut.

The new Beyond Pan Pizzas include...

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Nov 10 9:00 AM, General News


U.S. Restaurant Chain Customer Transaction Declines Stabilize at -9% Compared to Year Ago in October

Customer transaction declines at major U.S. restaurant chains held steady at  -9% every week in October compared to same weeks year ago, reports The NPD Group.  Quick service restaurant chains, which have been able to leverage their off-premises operations during the pandemic, also stabilized transaction declines at  -9% throughout the month. Full service restaurant chains, which are more heavily reliant on dine-in services, saw transaction declines fluctuate from  -16% in the first week of October to  -14% in the last full week of the month, according to NPD’s CREST® Performance Alerts, which provides a rapid weekly view of chain-specific transactions and share trends for 75 quick service, fast casual, midscale, and casual dining chains representing 53% of the commercial restaurant traffic in U.S...

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Nov 10 8:09 AM, General News


Papa John’s Announces Third Quarter 2020 Financial Results 

Papa John’s International, Inc. announced financial results for the three and nine months ended September 27, 2020.

“Thanks to our focus on our strategic priorities, our commitment to an innovation mindset, and our dedication to supporting our team members and franchisees, Papa John’s delivered another quarter of outstanding results,” said President & CEO Rob Lynch. “Double-digit comparable sales growth, dramatically higher earnings and robust free cash flow all reflect a winning strategy and execution that have helped us...

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Nov 6 8:34 AM, General News


Denny's Adds Melts and Bowls To the Menu

Nothing says fall quite like comfort food and Denny's is delivering with an all new Melts lineup and a new Bowls menu. Available nationwide, Denny's will now feature a selection of warm and cheesy grilled sandwiches served with wavy-cut fries, and two hearty dishes combining flavors and textures for a complete meal in a bowl.

New menu items include...

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Nov 6 8:33 AM, General News


BJ's Restaurant & Brewhouse Brings Tailgating Home with Brewhouse Homegating Packs 

Fall is here and that means football season is officially in full swing. Sports buffs know that game day isn't complete without the cherished tradition of tailgating. That's why BJ's Restaurant & Brewhouse is bringing the tailgating experience from the stadium to the living room this season with the introduction of the new Brewhouse Homegating Pack.

The Brewhouse Homegating Pack allow fans to recreate the excitement of a tailgate from the comfort of their own home by indulging in gameday favorites such as wings, pizza, award winning BJ's Handcrafted Signature Beers, and more. The crowd-pleasing package includes...

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Nov 6 8:33 AM, General News


Consumers Likely to Continue Increased Usage of Takeout and Delivery

With indoor dining restaurant traffic significantly curtailed due to COVID-19 restrictions and concerns, the availability of takeout and delivery options became more important for consumers and restaurants. Many foodservice operators began offering these options recently, and consumers have increased their usage of takeout and delivery.

According to the National Restaurant Association, the uptick in takeout and delivery frequency was visible across each of the three major dayparts in recent months. The Association reported that 66% of consumers said they ordered takeout or delivery for dinner last week. That is up from 58% during the last week of February.

The trend was similar for lunch. About 47% of consumers ordered takeout or delivery for lunch last week, a level that has...

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Nov 6 8:29 AM, Urner Barry


ANALYSIS: Egg Product Market Comes to Life

Though retail demand for shell eggs has run significantly above norms since the peak pandemic period, foodservice demand has struggled to...

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Nov 5 8:36 AM, Urner Barry


Performance Food Group Reports First-Quarter Fiscal 2021 Results

Performance Food Group Company announced its first-quarter fiscal 2021 business results.

“I am very pleased with our first-quarter results as the organization continues to take market share and prove its resiliency,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “Our Foodservice segment once again outperformed the industry, particularly in the independent restaurant channel. The integration of Reinhart has progressed smoothly and Vistar, despite its exposure to some of the hardest hit channels, has remained profitable due to strength in the convenience store channel. Our associates are...

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Nov 5 8:35 AM, General News


Burger King Opens 300th Restaurant in Canada

Burger King has proudly opened its 300th restaurant in Canada, located in Richmond Hill, Ontario.

The new restaurant features Burger King's latest design elements, interactive features such as outdoor digital menu boards, a freshly designed interior and an eye-catching newly designed exterior.

"We're extremely excited to be opening our 300th Burger King restaurant in Canada," says Chris Finazzo, President, Burger King Americas.

"This is a big step in our journey to offer more and more Canadians close and convenient access to...

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Nov 5 8:35 AM, General News


Wendy's Reports Third Quarter Results

The Wendy's Company reported unaudited results for the third quarter ended September 27, 2020.

"In the third quarter we posted our highest Global same-restaurant sales growth performance in over 15 years on top of outsized growth in the prior year." President and Chief Executive Officer Todd Penegor said. "In addition to these very strong sales, our restaurant economic model continues to strengthen, with Company-operated restaurant margin expansion compared to the prior year, despite significant commodity headwinds. We remain focused on our goal of delivering efficient, accelerated growth behind...

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Nov 5 8:35 AM, General News


Cracker Barrel Offers New Options for Thanksgiving

Cracker Barrel Old Country Store is offering convenient options for guests to enjoy a homestyle holiday meal in-store or at home.

"Thanksgiving has always been a time for us to welcome guests home for the holidays by offering a place with warm hospitality and homestyle cooking," Cracker Barrel Senior Vice President of Restaurant and Retail Operations Michael Hackney said. "And while we know this special holiday will look different for many this year, we are more committed than ever before to our mission of 'Pleasing People' and delivering a safe experience so families can share in the tradition of connecting over a holiday meal with...

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Nov 4 8:20 AM, General News


Sysco Reports Sales Decline in First Quarter Fiscal 2021 Results

On Tuesday Sysco Corporation announced their financial results for its 13-week first fiscal quarter, which ended September 26, 2020. According to the company, sales decreased by 23% to $11.8 billion and gross profit decreased by 24.6% to $2.2 billion.

“Although our first quarter 2021 results continue to be impacted by the pandemic, we are pleased with our overall expense management and our ability to produce positive free cash flow and a profitable quarter despite a 23% reduction in sales,” said Sysco president and CEO Kevin Hourican...

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Nov 3 10:14 AM, SeafoodNews


US Foods Reports Third Quarter Fiscal 2020 Earnings

US Foods Holding Corp. announced results for the third quarter of fiscal 2020. In this press release we refer to certain organic financial results. Organic financial results exclude contributions during the respective period from Smart Stores Holding Corp. (“Smart Foodservice”), which was acquired on April 24, 2020. For the Food Group of Companies (the “Food Group”), which was acquired on Sept. 13, 2019, organic financial results include contributions for the Sept. 14, 2020, through Sept. 26, 2020, time period only.

Third Quarter Fiscal 2020 Highlights

  • Total case volume decreased 8.9%; total organic case volume decreased 22.2%
  • Net sales decreased 10.5% to $5.8 billion
  • Gross profit decreased 15.7% to $974 million
  • Net loss available to common shareholders was...
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Nov 3 8:24 AM, General News


The Cheesecake Factory Reports Results for the Third Quarter of 2020

The Cheesecake Factory Incorporated reported financial results for the third quarter of fiscal 2020, which ended on September 29, 2020.

Total revenues were $517.7 million in the third quarter of fiscal 2020 compared to $586.5 million in the third quarter of fiscal 2019. Net loss and diluted net loss per share were $28.3 million and $0.76, respectively, in the third quarter of fiscal 2020, reflecting the impact of COVID-19. The results in this press release include the acquisition of North Italia and the remaining business of Fox Restaurant Concepts LLC (“FRC”) on October 2, 2019.

During the third quarter of fiscal 2020, the Company recorded pre-tax impairment of assets and lease termination expense of $10.4 million, $5.4 million of which was cash lease termination expense associated with one...

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Nov 3 8:24 AM, General News


Ruth's Hospitality Provides Business Update and Reports Third Quarter 2020 Financial Results

Ruth’s Hospitality Group, Inc. provided a business update on the impact of the COVID-19 pandemic and reported unaudited financial results for its third quarter ended September 27, 2020.

Business and Liquidity Update

  • By the end of the third quarter, the Company was able to re-open 94% (72 of 77) of its Company-owned and managed restaurants, which included 71 restaurants offering limited capacity dining service and one restaurant offering to-go and delivery service only.
  • 99% (71 of 72) of the Company’s franchisee-owned restaurants were open with capacity restricted dining rooms as of the end of the third quarter.
  • Third quarter comparable restaurant sales at Company-owned restaurants decreased...
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Nov 3 8:23 AM, General News


Shake Shack Announces Third Quarter 2020 Financial Results

Shake Shack Inc. reported its financial results for the third quarter ended September 23, 2020, a period that included 13 weeks.

Randy Garutti, Chief Executive Officer of Shake Shack, stated, “Our business during this most recent quarter showed steady recovery, thanks to the hard work and dedication of our team, their agility in adapting new Shack protocols and models and an increasingly strong suite of digital capabilities. As a result, guests have been able to enjoy their Shack the way they want it, with a choice of convenient and safe ordering and...

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Nov 2 8:27 AM, General News


Starbucks Reports Q4 Fiscal 2020 Results

Starbucks Corporation reported financial results for its 13-week fiscal fourth quarter ended September 27, 2020. GAAP results in fiscal 2020 and fiscal 2019 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 strong finish to fiscal 2020, underpinned by a faster-than-expected recovery in our two lead growth markets, the U.S. and China. These results demonstrate the continued strength and relevance of our brand, the effectiveness of...

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Nov 2 8:26 AM, General News


McDonald's Takes McRib Season Nationwide in 2020

This year, McDonald's is not only bringing back the McRib, but its also taking the sandwich nationwide for the first time since 2012 starting on December 2.

For a limited time, McRib regulars and "first-timers" across the country can soon get in on the McRib magic with seasoned boneless pork slathered in smoky, tangy barbecue sauce, topped with slivered onions and tart pickles.

"The McRib has been a beloved menu item at McDonald's since its inception nearly 40 years ago," said Vice President of Menu Innovation, Linda VanGosen. "There's nothing quite like the taste of the McRib. To our customers, it's become more than...

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Nov 2 8:23 AM, General News


Technomic's Take: What’s to Come in 2021

It’s not easy to forecast the future when the ground keeps shifting underneath. The foodservice industry has had to be more nimble than ever this past year, and everyone is eager to bounce back and embrace a clear sense of normalcy. Yet several big questions loom large: Is a COVID-19 vaccine on the horizon soon? Which areas of the country will recover quickest? And when will consumers feel comfortable about dining indoors again?

Despite the many ambiguities that exist, Technomic's outlook for the industry remains optimistic. Up-to-the-minute strategies are positioning foodservice segments to kick off a wider resurgence through 2021. Optimizing the menu, directly...

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Nov 2 8:14 AM, General News


ANALYSIS: The Ups and Downs of This Year’s Chicken Hatch

It has been a topsy turvy year for the chicken industry to say the least. Between highly volatile retail and foodservice demand patterns, the enduring inconsistencies in...

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Oct 30 8:29 AM, Urner Barry


Boston Market Introduces Holiday Meal Options 

Boston Market is aiming to bring families together both near and far with countless affordable holiday meal options for every type of celebration, no matter how different it may look this year. Whether gathering with family in-person around the table or across the country over the internet, Boston Market has you and your loved ones covered this holiday season with complete meal solutions starting at just $10.99 per person.

"With all that has happened this past year, connecting with friends and loved ones over a delicious meal to celebrate the things that matter most has never been more important," said Boston Market President, Randy Miller. "That's why we're serving up decadent, hassle-free meals in a variety of ways that allow families to...

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Oct 30 8:27 AM, General News


Dunkin' Brands Reports Third Quarter 2020 Results

Dunkin' Brands Group, Inc., the parent company of Dunkin' and Baskin-Robbins, reported results for the third quarter ended September 26, 2020.

"Our strong third quarter results are a testament to our continued focus on the Dunkin' U.S. Blueprint for Growth and demonstrate that our high-frequency, low-touch, affordable-ticket business performs well in any environment. In response to changing consumer patterns, we moved quickly to adapt our menu, introducing new beverages and snacking items designed to appeal to both morning and afternoon traffic, as well as younger consumers. We also doubled down on digital, leveraging...

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Oct 30 8:26 AM, General News


The COVID-19 Pandemic Causes Eating Patterns in America to Take a Sharp Turn

Annually, The NPD Group collects a year’s worth of data from its daily tracking of how U.S. consumers eat away from and in home and compiles the topline trend into a report that’s been called "Eating Patterns in America" for the last 35 years. This year’s recently released Eating Patterns in America captures how in mid-March, the daily rhythms of consumers’ lives, including their eating patterns, were suddenly disrupted by the COVID-19 outbreak.

“With mandated shelter-at-home and restaurant dine-in restrictions across most of the country during the pandemic, we have had few options other than to prepare most of our meals at home,” says David Portalatin, NPD food industry advisor and author of Eating Patterns in America. “Working from home, schooling at home, and preparing...

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Oct 30 8:25 AM, General News


Yum China Reports Third Quarter 2020 Results

Yum China Holdings, Inc. reported unaudited results for the third quarter ended September 30, 2020.

Impact of COVID-19 Outbreak and Mitigation Efforts

Third quarter operations improved, although still impacted by reduced traffic at transportation and tourist locations, the delayed and shortened school holiday and the other lingering effects of the COVID-19 outbreak. Dine-in volume has been recovering, while delivery and takeaway remained popular options. The Company's primary focus continues to be safety, efficiency and driving traffic. We launched attractive digital and membership campaigns with...

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Oct 29 10:00 AM, General News


Pilgrim's Pride Reports Third Quarter Financial Results

Pilgrim’s Pride Corporation reports third quarter 2020 financial results.

Third Quarter Highlights

  • Net Sales of $3.08 billion.
  • Net GAAP Income of $33.4 million. Adjusted Net Income of $161.7 million or adjusted EPS of $0.66 excluding $110.5 million DOJ agreement.
  • Consolidated Operating Income margin of 3% with Adjusted Operating Income margins of 6.7% in U.S. excluding DOJ agreement, 18.4% in Mexico and 3.5% in Europe.
  • Adjusted EBITDA of $305.0 million, or a 9.9% margin, 18% higher than a year ago.
  • Faced with the global Covid-19 pandemic, we continue to be guided by...
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Oct 29 8:39 AM, General News


Dine Brands Global Reports Third Quarter 2020 Results

Dine Brands Global, the parent company of Applebee's Neighborhood Grill + Bar and IHOP restaurants, announced financial results for the third quarter of 2020.

“We continue to execute on our strategy to stabilize our business and restore growth, which resulted in both brands delivering continued improvements during this challenging time for our industry. I want to thank our franchisees and team members who have been working tirelessly this year. They have adapted to the significant challenges of 2020 with remarkable agility, bringing our delicious, affordable food to guests in a low-contact and safe manner,” said Steve Joyce, Chief Executive Officer of Dine Brands Global, Inc.

Mr. Joyce added, “We believe that both Applebee’s and IHOP are well-positioned to build on the impressive expansion of our off-premise growth, return restaurant sales to pre-pandemic levels and resume...

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Oct 29 8:23 AM, General News


Panera Rolls Into the Pizza Category with Launch of Three New Flatbread Pizzas

Panera announces the launch of Flatbread Pizza – a new menu category from Panera, rolling out nationwide this week. Panera's newly-appointed Head Chef Claes Petersson has fine-tuned three new flatbread creations, featuring extra finely ground flour for delicate yet crisp crust, topped with delicious, hearty ingredients. Expertly crafted from Panera's pantry of clean ingredients, new Panera Flatbread Pizzas are available in Cheese, Margherita and Chipotle Chicken & Bacon, providing real choice and options for pizza night.

"At Panera, baking is at the core of who we are and what we're known for – we knew that we had all the elements to bring our delicious, hearty flatbreads to life," said Petersson, Panera's Chief Food & Innovation Officer. "With the launch of Flatbread Pizza, we are looking to redefine the expectation of pizza and carve out a niche for Panera in the pizza category. Our Flatbread Pizzas encompass...

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Oct 29 8:22 AM, General News


Sysco Announces 2020 Corporate Social Responsibility Report

Sysco Corporation announced it has published its 2020 Corporate Social Responsibility (CSR) Report, documenting the company’s progress toward its 2025 CSR goals and demonstrating its “Leadership In Extraordinary Times.”

Sysco’s industry-leading CSR strategy sets a clear path for the future and demonstrates the company’s enduring commitment to caring for people, sourcing products responsibly and protecting the planet.

“I am so proud of how Sysco associates have supported our communities – and each other – while also making significant progress toward our CSR goals. They have risen to the challenges that the pandemic has presented and...

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Oct 29 8:22 AM, General News


Maple Leaf Foods Reports Third Quarter 2020 Financial Results

Maple Leaf Foods Inc. reported its financial results for the third quarter ending September 30, 2020.

"Maple Leaf continues to deliver on its responsibility as an essential service, its commitment to protect employees, and its support of local communities during these extraordinary times," stated Michael H. McCain, the Company's President and CEO. "I continue to be amazed and humbled by the steadfastness of our team and their ability to maintain critical infrastructure in the face of extremely challenging circumstances.

"Our operational resiliency, strong brands, and the success of our sustainable meat strategy delivered excellent results in Meat Protein in the third quarter," continued Mr. McCain. "While supply chain disruptions impacted short-term Plant Protein performance, we are seeing...

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Oct 28 9:34 AM, General News


US Foods Releases Holiday Scoop 2020 

US Foods Holding Corp. announced the launch of Holiday Scoop 2020, “Wow Your Diners On- and Off-Premise.” With this special edition of Scoop, operators can design family-style take-out meals to meet increased demand during the busy holiday season, and develop a new rotation of on-trend menu items to help fight menu fatigue whether diners are ordering to-go or dining in. Holiday Scoop features 14 items to help restaurant owners create standout menu items that not only meet diner demand but increase revenue opportunities this season.

“Dining trends have evolved rapidly since the pandemic hit, and this holiday season is certainly no exception,” said Stacey Kinkaid, vice president, product development and innovation, US Foods. “In fact, according to a recent US Foods survey, one in three consumers report that they plan to order more from restaurants for the upcoming holidays. Families are faced with...

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Oct 28 8:28 AM, General News


White Castle to Expand Implementations with Miso Robotics

White Castle announced plans to expand work with Miso Robotics – creators of autonomous grilling and frying kitchen assistant, Flippy – to target up to 10 new locations, in addition to the initial testing location, following completion of their current pilot. The announcement comes following early results at one test location. The move will accelerate the adoption of artificial intelligence and robotics in the restaurant industry, critical technologies needed to tackle new pandemic challenges such as social distancing in kitchens, takeout and delivery demand, and higher standards for health and safety via contactless solutions.

White Castle will implement the new commercially available version of Flippy Robot-on-a-Rail (ROAR), announced earlier this month, into kitchens to enhance production speeds, empower teams behind the counter and maintain consistent quality and taste – while continuing to ensure...

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Oct 28 8:27 AM, General News


Chipotle Launches Real Foodprint, Introduces Sustainability Impact Trackers for Digital Orders

Chipotle announced the debut of Real Foodprint, a sustainability impact tracker that compares average values for each of Chipotle's 53 real ingredients to their conventional counterparts against five key metrics:

  • Less Carbon in the Atmosphere - Measured in grams
  • Gallons of Water Saved 
  • Improved Soil Health - Measured in sq feet
  • Organic...
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Oct 28 8:27 AM, General News


Restaurant Brands International Reports Third Quarter 2020 Results

Restaurant Brands International Inc. reported financial results for the third quarter ended September 30, 2020.

Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "Our results this quarter are once again a testament to the incredibly hard work our team members, restaurant owners and employees have put in to re-open our restaurants and continue serving millions of guests every day. Looking forward, we are very well-positioned to navigate through a wide range of possible scenarios, especially given the strength of our network of drive-thrus and fast-growing delivery channel."

"Despite our continued near-term focus on confronting the challenges presented by this global health crisis, we continue to make progress behind our long-term vision for the business, including modernizing our brands by...

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Oct 28 8:27 AM, General News


Burger King, Tim Hortons, and Popeyes to Modernize Its Drive Thru Experience 

Restaurant Brands International Inc. announced that it is modernizing the drive-thru experience at more than 10,000 Burger King and Tim Hortons locations, with Popeyes beginning its own rollout later this year. More than 40,000 digital screens are being installed with powerful 'predictive selling' technology, integration with restaurant loyalty programs and the ability for remote, contactless payment, reflecting the strategic importance and value of the drive thru experience to RBI's iconic restaurant brands.

"Our guests have sought out our drive-thru lanes for our iconic food and beverages throughout the COVID-19 pandemic – even in the face of mandated dining room closures around the world," said Jose Cil, CEO of RBI. "We believe strongly that it is time to...

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Oct 27 8:49 AM, General News


Applebee's Announces Halloween Wings Deal

Halloween is almost here, and Applebee’s is putting a new spin on trick-or-treating for guests around the country. For one day only on October 31, wing lovers can celebrate at participating locations with Halloween Wings – a free order of Boneless Wings with any purchase of $30 or more for To Go or delivery through Applebees.com.

Each order of Applebee’s Boneless Wings is served with ranch dressing and celery on the side and is tossed in sauce like Classic Hot Buffalo, Sweet Asian Chili or Honey BBQ. Guests can visit Applebees.com or the Applebee’s mobile app to order and...

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Oct 27 8:31 AM, General News


Consumers Begin to Venture Back Out to Eat with Cost in Mind 

As we enter the eighth month of the coronavirus pandemic, there is some good news for the foodservice industry. According to Datassential, consumers have begun to venture back out to eat a little more. In a recent report, Datassential found that only 26% of consumers said they were using restaurants less to save money, down from 38% when asked the same question in April. However, Americans remain value conscious as ever, and find ways to keep their average spend in line with tighter budgets, which means paying close attention to prices.

To help consumers pressured to maintain a budget, Datassential suggests the food industry must make the value proposition transparent and compelling. Consumers will accept...

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Oct 27 8:25 AM, Urner Barry


Church's Chicken Debuts New Chicken Sandwich 

Church's Chicken announced the arrival of the new Church's Chicken Sandwich. The sandwich will be a permanent menu fixture, and features an all white meat chicken breast filet, hand-breaded with Church's proprietary home-style seasoning with a hint of buttermilk, and cooked to a golden crisp. Nestled between a toasted brioche bun – brushed with the brand's famous honey-butter for a bit of sweetness – and toasted, the Chicken Sandwich is topped off with crunchy pickles and a dollop of creamy mayo, creating an instant classic.

"We are experts in bone-in chicken, but the fan demand for that same level of quality and flavor in a boneless fried chicken sandwich from Church's was emphatic and persistent, so we...

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Oct 26 3:32 PM, General News


Bloomin’ Brands Reports Strengthening Sales Trends

Bloomin’ Brands, Inc. (Nasdaq: BLMN) today reported results for the third quarter 2020 (“Q3 2020”) compared to the third quarter 2019 (“Q3 2019”).

Statement from David Deno, Chief Executive Officer

Our priorities remain unchanged as we are focused on taking care of our people and serving food in an environment that protects both team members and customers. Maintaining a motivated, well trained, and engaged employee base that is committed to providing a safe dining experience is critical to our long-term success. The decision not to furlough any employees during the pandemic reinforced this principle. This decision is paying off and has been a big part of our success in driving results throughout the pandemic...

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Oct 23 8:47 AM, General News


Burger King to Pilot Reusable Containers Through Partnership with Loop 

Burger King restaurants are continuing efforts to minimize environmental impact across the globe by testing a new reusable packaging model that will help cut down on packaging waste. The brand, as part of its Restaurant Brands for Good framework, has launched a partnership with TerraCycle’s circular packaging service, Loop, to pilot a closed-loop system with zero-waste packaging that can be safely cleaned and refilled to be reused, again and again.

Together with Loop, the trial will offer restaurant guests the option to conveniently reduce waste when ordering their favorite Burger King brand staples like...

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Oct 23 7:55 AM, General News


Wendy's Rolls Out New Chicken Sandwich

Wendy's is introducing a brand-new chicken sandwich that's crispier, juicier and packed with flavor.

"We can't wait for our fans to get their hands on the New Classic Chicken Sandwich which has the perfect crunch from breading and pickles paired with the juiciness and flavor of the fillet," said Carl Loredo, Chief Marketing Officer for The Wendy's Company. "The Classic joins what customers have already come to know and love in spice and taste from Wendy's via our Spicy Chicken and Pretzel Bacon Pub Chicken Sandwiches."

The new Classic Chicken Sandwich features...

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Oct 23 7:51 AM, General News


ANALYSIS: A Challenging Year for Chicken Tenders

2020 has been anything but a traditional year for the chicken industry and line run tenders are no exception...

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Oct 23 7:35 AM, Urner Barry


Chipotle Announces Third Quarter 2020 Results

Chipotle Mexican Grill, Inc. reported financial results for its third quarter ended September 30, 2020.

Third quarter highlights, which incorporate the impact of COVID-19, year over year

  • Revenue increased 14.1% to $1.6 billion
  • Comparable restaurant sales increased 8.3%
  • Digital sales grew 202.5% and accounted for 48.8% of sales for the quarter
  • Restaurant level operating margin was 19.5%, a decrease of 1.3%
  • Diluted earnings per share was $2.82, net of a $0.94 after-tax impact from expenses related to...
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Oct 22 9:40 AM, General News


Survey: COVID Led to Surge in Off-Premise Dining, Other Operational Changes for Franchisees

The 2020 Restaurant Franchise Pulse survey, conducted by TD Bank, found that coronavirus lockdowns and unwillingness to eat out at restaurants led restaurant franchisees to pivot to a pick-up and delivery model.

Just shy of 75% of survey respondents prioritized off-premise dining with enhanced delivery and online or mobile ordering methods due to COVID-19. This led to a 19% jump in the percentage of sales linked to off-premise orders.

An interesting note was that although 86% of respondents had delivery...

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Oct 22 9:17 AM, Urner Barry


ANALYSIS: What’s Going On with Tom Breast Meat?

It’s safe to say that Thanksgiving and the whole bird centric activity which typically...

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Oct 22 8:11 AM, Urner Barry


PODCAST: I’ll Have What He’s Having - Jorge Azevedo on Plant Proteins

In this week’s episode of Market Digest Laura sits down with Jorge Azevedo, Chief Growth Officer at Planterra Foods. They discuss the growing popularity of flexitarian diets, plant protein at QSRs, bringing plant protein foods into the spotlight, and much more...

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Oct 21 11:10 AM, Urner Barry


Papa John’s Brings Back the Double Cheeseburger Pizza

Papa John's is bringing back the brand’s cult-favorite Double Cheeseburger Pizza for just $12. But Papa John’s isn’t stopping there. They’re turning the popular Double Cheeseburger Pizza, originally launched in 2015, into a Papadia for $6. To satisfy their biggest fans’ cravings, Papa John’s is treating their Papa Rewards members to a coveted sneak peek starting today at select locations.

The Double Cheeseburger Pizza and Double Cheeseburger Papadia feature a huge portion of seasoned beef, melty cheese, zesty pickles and signature burger sauce, all held together by...

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Oct 21 8:17 AM, General News




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