P.F. Chang's Plans IPO Within Two Years
Jim Mazany, CEO of P.F. Chang's, said at the Restaurant Leadership Conference that the company is planning an IPO in two years. The Asian chain went private in 2012.
Starbucks Nashville Hub Signals Shifting US Corporate Map
Great thread helping to explain why Starbucks is opening a support center in Nashville. We've seen these types of things in a lot of restaurant companies.
Starbucks Pours $100M Into Nashville Hub for 2,000 Staff
Starbucks will invest $100M in its new Nashville office, which will open next year and is ultimately expected to house 2,000 workers, a combination of new and relocated employees, or "partners." $SBUX https://t.co/LJ4nwj6ZnZ
Chain Restaurant Sales Slow to 3%, Coffee, Chicken Defy Trend
Chain restaurant sales slowed last year, growing 3%, the lowest rate of growth (non-pandemic) since the Great Recession. Weakening sales are pressuring unit economics. But there were some strong pockets of growth, like coffee and chicken. https://t.co/SbjC4xYbLk https://t.co/vkjYWyxlvf
McDonald’s Hits 25‑year High in U.S. Openings
McDonald’s opened the most new U.S. locations in a quarter century. Why that period has been really good for the brand and its franchisees. https://t.co/r50QTfHQpF
Restaurant Spending Rises While Profits and Locations Fall
Consumers spend more at restaurants as a percentage of their total retail and food spending than ever. And yet per-restaurant profitability is down, big chains are closing locations. And bankruptcies are common. https://t.co/pSx8JKgQII https://t.co/20E9hd71pf
Delivery Apps Undermine Restaurant Economics, Rival Sysco's Power
A decade after the emergence of third-party delivery, the services have damaged restaurant industry economics. Also, while everybody is complaining about how powerful Sysco is there is little attention at how powerful delivery companies have become. https://t.co/9CxUbZLrQ1
Starbucks' ChatGPT App Suggests
So Starbucks has a new app on ChatGPT that will help you pick your drinks based on mood, weather, etc. So I started messing with it this morning and now I think the robot wants to call the authorities… https://t.co/KTdElSn26i https://t.co/IZTjtQrS0c
Biglari's Mouthpiece Claims Credit for Planned Board Exit
Sardar Biglari's apparent social media mouthpiece is taking credit for David Goebel's departure from the Jack in the Box board. He lost the proxy. JIB already named Mark King chairman and David had been planning to step down at the end...
Corporate Jargon: Naming Transformations Like a Game
Project Grand Slam? How do companies name these transformation ideas? Focus groups? Darts at a board?
People Are Baffled by the Vague “Refresher” Label
What the damn hell is a "Refresher" anyway? They're suddenly all over the place and nobody really can definite what it is.
California Carl's Jr. Franchise Blames Wages, Corporate for Bankruptcy
The Carl's Jr. franchisee out of California that filed for bankruptcy late last week blamed its financial distress on two issues: The state's fast-food wage and Carl's Jr. management. https://t.co/HdZ8TzblsJ
Domino's Pairs New Slice Sauce with Shinola Accessories
Domino's is unveiling Slice Sauce, which will come with the chain's Handmade Pan or Parmesan Stuffed Crust Pizza. And customers who buy either of those pizzas between now and May 7 will get special access to buy special edition Shinola...
Mall Chick-Fil-A Units Gain Sales as Stand‑Alones Slip
Chick-fil-A's FDD is out. Stand-alone locations average $9.2 million in sales a year, down 1.7%. But mall location average-unit volumes were up 1.4% to $4.6 million. Highest volume CFA now does > $20 million. Company added 178 U.S. locations last year and now...