Pizza Hut U.S. President David Graves has resigned, leaving the company after just 4 years of service to the company. Graves was praised for his leadership in helping to modernize the brand, spearheading initiatives like extending store hours, introducing the Melts food category, holiday promotions, and forging partnerships with third-party delivery services. Yet, despite all of these efforts, Pizza Hut's sales growth in 2023 trailed behind all other brands within the Yum umbrella, with same-store sales falling 4% in Q4 and growing only 1% over the year. Against the backdrop of Taco Bell and KFC experiencing stronger sales growth in the U.S., and Domino's same store-sales outnumbering that of Pizza Hut by 1.6%, it was too much to allow to continue. The resignation suggests a loss in faith in Graves ability to turn it around, and more so should send a message to investors across the industry that brands who previously thought themselves immune to inflation…need to think again.. https://lnkd.in/eJceRAjp #restaurantnews #tagex #liquidations #furnitureauctions #furnitureliquidations #equipmentliquidations #equipmentauctions #foodindustrynews #foodserviceindustry #kitchenquipment #restaurantequipment #commercialkitchenequipment #restaurantauctions #restaurantclosures #restuaranttrends #restaurantnews #cfo #coo #foodindustry #foodindustryequipment #liquidaterestaurant #openrestaurant #expandrestaurant #foodoperations #restaurantclosure #restaurantremodel #restaurantliquidation
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Hats off to restaurant owners thriving in this market. The last few years they've had to deal with... ❌ Supply chain issues ❌ Rising food costs ❌ Labor shortages ❌ Wage increases Pinching dollars is now pinching pennies. Restaurant owners are starting to jump ship. The juice isn't worth the squeeze it once was. PayMore Stores is attracting those owners looking for a better business to own. Why the move to PayMore? ✅ Better margins, better volume ✅ Far less employees needed and they WANT to be there ✅ Way less to open and open much faster ✅ Quality of life...one shift, no Sundays DM me if you want more info why big food owners have gotten out of food and into PayMore.
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In terms of shake-ups, there are few as big as what’s going on with Corner Bakery Cafe. For years, the company faced significant declines in volume, which led to an extensive corporate restructuring. Then 2020 hit, and after being bought by Pandya Restaurant Growth Brands, the menu was redeveloped, and measures were taken to improve the guest experience. For a while it worked – Corner Bakery saw a 100% increase in annual sales. But it wasn’t nearly enough to keep the company afloat, considering it once heavily relied on in-office catering for revenue. Now the company faces bankruptcy and has just recently accepted a $15 million bid from SSCP Restaurant Investors, the operator of 80 Applebee’s restaurants and 43 Sonic restaurants. While SSCP’s plans for the firm are unclear, what we do know is this…the pandemic, even years later, continues to thread chaos among major brands in this industry. In many ways, it forced an evolution few ever expected. https://bit.ly/3Q3xzlA #cornerbakerycafe #bankruptrestaurants #restuaranttrends #restaurantwages #onefairwage #kitchenquipment #restaurantequipment #commercialkitchenequipment #restaurantauctions #restaurantnews #cfo #coo #foodindustry #foodindustryequipment #sustainability #liquidaterestaurant #openrestaurant #expandrestaurant #foodoperations #restaurantclosure #restaurantremodel #restaurantliquidation
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Do you know McDonald's is built on real estate, not burgers? Many people know McDonald's as a fast food chain that serves burgers, fries, and other fast foods.🥞🍔🍟 But never knew that McDonald's is actually a company built on real estate.🏘️🧱🏰🏞️ McDonald’s was initially founded as a real estate company. The goal was to buy land and lease it to franchisees who would operate McDonald’s restaurants. This business model allowed McDonald’s to grow rapidly and become one of the most successful fast food chains in the world. Today, McDonald's is still heavily focused on real estate. 🏘️ With over 38,000 locations in more than 100 countries.🌍 Though the company is mostly known for its burgers and other menu items. But REAL ESTATE is the heart of McDonald’s success. 💶💰 #realestatefact #realestateinvesting
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Darden Restaurants recently reported its quarterly results, showcasing resilience amidst a challenging environment. While Olive Garden faced a decline in same-store sales for the second consecutive quarter, Darden's overall performance remained steady, with earnings per share surpassing expectations at $2.65 and revenue reaching $2.96 billion. Looking forward to fiscal 2025, Darden projects a promising outlook with expected earnings per share between $9.40 and $9.60 and anticipated net sales of $11.8 billion to $11.9 billion. The company's LongHorn Steakhouse segment notably reported a 4% increase in same-store sales, underscoring Darden's effective management and operational strength. With plans to invest $550 million to $600 million in capital expenditures, Darden is poised to enhance its offerings and maintain its competitive edge in the market. Read More Here: https://lnkd.in/eFgDC97p #hospitality #restaurants #technology #innovation Branded Hospitality Ventures Angelo Fama Jr. John Espy Dave George Daryl L. Cunningham Lisa McDowell Robert Anderson Ali Charri
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Darden Restaurants (NYSE:DRI) shares fell in Friday premarket trading despite the company reporting second-quarter earnings that beat consensus estimates. The owner of Olive Garden reported a 9.7% increase in total sales to $2.73 billion, just shy of the $2.74 billion expected by Wall Street analysts. Same-restaurant sales were up 2.8% and it also benefited from the addition of 78 company-owned Ruth's Chris Steak House (Ruth's Chris) restaurants and 45 other net new restaurants. Adjusted earnings per share (EPS) rose 21% to $1.84, above the $1.71 consensus estimate of analysts polled by Zacks Investment Research. "We continued to profitably grow market share again this quarter as we outperformed industry same-restaurant sales and traffic," Darden president and CEO Rick Cardenas commented in a statement. More at #Proactive #ProactiveInvestors http://ow.ly/13XC1055Lqa #NYSE #DRI
Darden Restaurants shares dip despite Olive Garden owner reporting 2Q earnings beat
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JIM Noida PGDM 2023-2025 ||Junior Coordinator -Invictus (Marketing Club), Disha( Corporate Social Responsibility Committee), Events Committee.
Finding the Perfect Recipe: Taco Bell and KFC's Nash Equilibrium Strategy Imagine you're driving down the highway, and you spot a rest stop with both Taco Bell and KFC outlets side by side. At first glance, it might seem like they're in direct competition for your stomach's attention. However, this is where the brilliance of Nash Equilibrium comes into play. Differentiation of Offerings: Both Taco Bell and KFC recognize that they have distinct menu items and customer bases. Maximizing Profits: Nash Equilibrium is about making the best decisions considering others' choices. Taco Bell and KFC's decision to maintain their specialties ensures they both thrive. Cooperation Over Conflict: They coexist peacefully, enhancing the overall appeal of the dining destination. Businesses can learn that sometimes, cooperation can be more profitable than cutthroat competition. In conclusion, Taco Bell and KFC's Nash Equilibrium strategy showcases the power of differentiation, maximizing profitability, and the benefits of cooperation in the business world. These lessons can be applied to various industries, guiding businesses towards sustainable success. #tacobell #kfc #nashequilibrium Prof (Dr) Shalini Verma 'Lifoholic Shalini' Drinking 'LIFE' Sip-by-sip®
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Chris Kempczinski faced more than his share of problems when he became McDonald's’s CEO four years ago. McDonald’s is still the world’s largest fast-food business by locations (about 40,000), and comparable-store sales have grown 30% during his tenure. The stock has risen 48%, matching the S&P. But revenue has declined in four of the past six years, and in 2022 it was less than it had been in 2016. While McDonald’s is adding restaurants globally, it hasn’t added any net new U.S. locations in nearly eight years. Now the company is announcing ambitious new growth targets, emphasizing that it intends to play offense—more restaurants, more advanced technology, a bigger delivery business, and rising revenue, among other goals. Kempczinski recently spoke with Fortune about the future of McDonald’s. Read more: https://lnkd.in/eteSFK8Y
The CEO of McDonald’s talks about his AI goals, the ‘emotional benefits’ of its menu items, and big plans for a China expansion
fortune.com
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"As workers gradually return to the office, the chain also seems to be gaining back breakfast diners. Per Placer.ai, 16.7% of store visits in 2023 were made between 7 a.m and 10 a.m. ET, up from 15.9% in 2022, though it's still lower than 2019 when 18% of visits were made during those hours." #quickservicerestaurant #fastfood #dining #takeout #foottraffic #analytics #ai #lunch #returntooffice https://lnkd.in/gwi4MVjE
McDonald’s looks unstoppable ahead of its latest earnings
finance.yahoo.com
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Shake Shack (SHAK), a growing restaurant chain, ended 2023 strongly with successful sales strategies and margin expansion. CEO Randy Garutti highlighted the opening of 41 new U.S. restaurants and 44 international locations, with same-store sales rising 2.8% year-over-year despite inflation. Potential for further expansion in 2024 if Federal Reserve maintains or lowers interest rates. With 518 locations (334 in the U.S.) by end of 2023, significant growth potential remains. Bullish on SHAK above $87.00-$88.00, targeting $145.00-$150.00. Investors should monitor sales growth and expansion efforts. #SHAK #Investing #StockMarket
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Burger King's $2B spend [2022 onward, incl this wk's acquisition and remodel plan for 1K units bought from largest #franchisee] is only the latest #QSR and #FastFood plan to 'Pinky and the Brain' us we low through the drive-thru feed lots. This according to a Barron's item. Others — * McDonald's wants to open 10K restaurants globally by 2027, boosting unit count by 25%. Also: grow loyalty prog member count by two-thirds to 250M and the prog's sales to $45B annually. * Domino's #Pizza aims at 1.1K new stores through 2028, growing #sales by 7% every year. * Papa Johns #franchisees agreed to boost national #marketing and cut the local spend. #Inflation is driving us thru the locales since even with their price increases, it's cheaper than sitting down in a #casualdining chain with a knife and fork. Barron's: "During the latest reported quarter, same-store sales grew 8.8% from a year ago at McDonald’s, 7.2% at Burger King, and 2.2% at Papa John’s. Domino’s saw a 0.6% decline at its U.S. stores, but 3.3% growth for international locations." https://lnkd.in/g6icajnH
McDonald’s and Its Rivals Have Big Plans. Inflation Is Bringing Growth.
barrons.com
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Business Development Manager @ Appstem | Design and Develop Digital Products | We help brands tailor/customize their digital platforms to deliver a seamless and consistent customer experience, both online and offline.
2moThey need to bring back the buffet!