Corporate Operations: Page 30
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Courtesy of Shake Shack
Shake Shack to invest over $10M in employees
The money will go toward raises, sign-on and retention bonuses and leadership development programs over the next 12 months as restaurant chains battle the labor crisis.
By Emma Liem Beckett • July 22, 2021 -
Courtesy of Chipotle
Chipotle CFO: higher wages preventing staff shortages
The company maintains pricing power, finance chief Jack Hartung says, giving it flexibility to decide when to use that power to either protect margins or make an additional investment in its people.
By Jane Thier • July 22, 2021 -
Explore the Trendline➔
sam edwards via Getty Images
TrendlineMenu development
Restaurants big and small are experimenting with their menus to align with the preferences of on-the-go diners and mitigate the impact of rising food costs, supply chain disruption and shrinking consumer discretionary funds.
By Restaurant Dive staff -
Courtesy of Choco
Restaurant supply chain startup Choco secures $100M in funding
The company, which reported transaction volume quadrupling in the past year, will use the cash infusion to deploy new payment tools and expand in its existing markets.
By Alicia Kelso • July 20, 2021 -
Courtesy of Jollibee/PR Newswire
Jollibee plans to reach 500 stores in North America in 5-7 years
The popular Filipino fast food chain, which has 1,400 units in the Philippines, is already on its way to opening 28 stores in Canada and the U.S. this year.
By Julie Littman • July 20, 2021 -
Cindy Ord via Getty Images
Grubhub to absorb Seamless brand following Just Eat transaction
In addition to the single-brand strategy, Grubhub will focus heavily on growing in its strongest metro areas, like Chicago and New York City.
By Julie Littman • July 19, 2021 -
Portillo's targets $100M IPO
The chain boasted strong restaurant-level sales, reaching $7.9 million average unit volumes in the 12 months ending June 27 compared to $7.7 million in 2020, according to its S-1 document filed Monday.
By Emma Liem Beckett • Updated Sept. 27, 2021 -
Retrieved from Dickey's Restaurant Brands on July 13, 2021
Dickey's to debut a brick-and-mortar store for its virtual wings brand
Wing Boss will open a restaurant in the Dallas market following strong results just four months after its launch as a delivery-only brand.
By Alicia Kelso • July 14, 2021 -
McDonald's franchisees boosting pay, rolling out child and elder care benefits
Operators surveyed more than 5,000 employees to determine what new offerings, such as tuition coverage and child care, would be most attractive.
By Emma Liem Beckett • Updated July 13, 2021 -
Courtesy of Panera Bread
Panera tailors swimwear collection to those who eat soup in hot weather
The Swim Soup line's focus on e-commerce aligns with how Dunkin' and McDonald's are attempting to grow loyalty and build out a lifestyle positioning with devoted followers.
By Peter Adams • July 12, 2021 -
Courtesy of PR Newswire
Bonchon says 72% of stores planned for 2021 will be fast casual
The chain experienced 15.3% same-store sales growth as of the end of June, and the company said the fast casual format has been well received by franchisees.
By Alicia Kelso • July 12, 2021 -
Courtesy of Burger King
Burger King promotes COO Tom Curtis to president of US and Canada
Curtis enters his new role as the company attempts to reinvent itself in the QSR space, launching a digitally focused rebrand and loyalty program.
By Emma Liem Beckett • Updated Aug. 24, 2021 -
Permission granted by Subway
Subway to launch massive menu revamp
On July 13, the sandwich chain will roll out 20-plus menu updates, including 11 new ingredients and six all-new or returning sandwiches as part of its Eat Fresh Refresh campaign.
By Julie Littman • July 6, 2021 -
J. Alexander's Holdings sold to SPB Hospitality for $220M
The deal between the upscale dining chain and the parent company of Logan's Roadhouse and Gordon Biersch Brewery Restaurant is expected to close in Q4 2021.
By Emma Liem Beckett • July 2, 2021 -
Dan Kitwood via Getty Images
McDonald's plans to cut franchisees' tech fees by 62% following uproar
According to an internal memo obtained by Bloomberg, the change was made to "reset" the relationship between corporate and franchisees.
By Alicia Kelso • July 1, 2021 -
Courtesy of Fiesta Restaurant Group
Jack in the Box franchisee to buy Taco Cabana for $85M
Fiesta Restaurant Group sold the brand to YTC Enterprises, an affiliate of Yadav Enterprises. The sale leaves Fiesta with just Pollo Tropical in its portfolio.
By Alicia Kelso • July 1, 2021 -
Red Lobster taps head of Black Box as CEO
Effective Aug. 2, Kelli Valade will succeed Kim Lopdrup, who is retiring. She inherits the company after it refinanced the remainder of a $380 million loan in January.
By Emma Liem Beckett • July 1, 2021 -
Courtesy of Krispy Kreme
Krispy Kreme prices IPO at $17, far below original plans
The doughnut chain had planned for a range of $21 to $24 per share, but the depressed price could hint at lukewarm investor interest.
By Emma Liem Beckett • July 1, 2021 -
Darren McCollester via Getty Images
Au Bon Pain sold to Yum Brands franchisee
The café chain's parent company had planned to sunset the brand, Ampex Brands' CEO said, but Ampex is now looking to expand it beyond the 171 locations it acquires in this deal.
By Emma Liem Beckett • June 30, 2021 -
Courtesy of Business Wire
P.F. Chang's aims to have 50 To Go stores by 2022
The chain currently has 10 of its smaller footprint, off-premise-focused stores open, with 20 additional units underway.
By Alicia Kelso • June 29, 2021 -
Permission granted by Wendy's
Q&AWendy's CMO on Twitter snark, 'Rick and Morty' and building a $1B breakfast business
Carl Loredo, the chain's marketing chief since 2019, said his overall vision is unchanged by the pandemic, while tactics are evolving to meet tech needs.
By Peter Adams • June 29, 2021 -
Courtesy of Domino's Pizza
Domino's lets customers bet on speediness of carside delivery with DraftKings tie-up
The challenge lets DraftKings users predict whether orders will actually show up in under two minutes for a chance to win a share of a $200,000 pot.
By Peter Adams • June 28, 2021 -
Robert Mora via Getty Images
Grubhub partners with Las Vegas hotel to replace in-room dining
The deal with Resorts World Las Vegas lets guests order from the resort's 40 food and beverage concepts using the aggregator's app or via QR codes located on the property.
By Alicia Kelso • June 24, 2021 -
Courtesy of Dunkin'
Dunkin' taps Coke marketing vet as US CMO following two-year search
Rafael Acevedo will shepherd a wide range of marketing functions, including digital initiatives, as the chain navigates the pandemic reopening.
By Peter Adams • Updated June 22, 2021 -
Courtesy of KFC Canada
How Yum Brands generates sales, cultural impact with a three-pronged marketing framework
Former CEO Greg Creed and CMO Ken Muench went deep on an R.E.D. strategy — also the subject of their new book — that has turned brands like Taco Bell into category trendsetters.
By Peter Adams • June 17, 2021 -
Dan Kitwood via Getty Images
McDonald's CEO: '$7.25 in this day and age is not what you should be paying'
Chris Kempczinski said at the CNBC Global Evolve Summit Wednesday that hourly wages will rise to $15 across the industry regardless of legislative mandates due to the strength of the economy.
By Emma Liem Beckett • June 17, 2021
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