Ruth’s Hospitality Group, the operator of the fine-dining Ruth’s Chris Steak House chain, reported Q2 2018 results, posting total revenue of $103.5 million, up 9.6 percent from last year. Company-operated stores posted comparable sales growth of 1.3 percent from last year, comprising a 0,1 percent decrease in traffic, offset by a 1.4 percent increase in average check. Net income rose to $9.6M, compared to $7.8M in the same period last year. .. The three buckets for the 2.0 remodel initiative are brand, capacity and bar changes. Those remodels that have addressed capacity are the most opportunistic remodels and have played a role in sales performance, noted Haak.
Restaurant Brands International (RBI), reported financial results for Popeyes for Q2 2018. RBI acquired Popeyes Louisiana Kitchen in an all-cash transaction for $1.8B in March 2017. Popeyes grew its sales to $937M, a 10.7-percent increase, compared to a 3.3-percent increase in the same period last year.
PIncho Factory has named Jayson Tipp, chief executive officer, effective immediately. Pincho Factory serves Latin-inspired kebabs and hamburgers, and currently has five locations, with plans to add 10 stores in the Washington, D.C. market.
Restaurant owners find themselves in a better bargaining position, but some of the biggest considerations in selecting the right distributor partnership have become more complex. Competitive pricing, reliability, distributor perks, convenience and industry know-how are reflective of some of the most important considerations...Independent restaurants will outpace chain sales growth by nearly double (independents to grow +4 to +5 percent vs. chains' +2 to +3 percent growth).
Performance Food Group Company today announced its third-quarter and first-nine months fiscal 2018 business results: otal case volume grew 0.8 percent Net sales increased 2.7 percent to $4.3 billion Gross profit improved 7.2 percent to $558.7 million... “We are pleased with our third-quarter net sales and profitability, said President and CEO George Holm.
According to its 2018 Top 250 Fast-Casual Chain Restaurant Report, total sales growth for the top restaurant chains in the segment was just 9 percent in 2017. In 2015, Technomic reported fast casual chain restaurants were growing sales at a 11.5-percent clip. Also unit growth rate in 2015 was 9.8 percent, but in 2017, growth was just 6.1 percent...As U.S. saturation nears, chains have opportunities in underdeveloped markets, including Australia, Mexico, Saudi Arabia, Spain.
Wharf DC: There will be some great opportunities for restaurants because people simply love dining on the water... lease consderations incredibly important.
D.C.-based &pizza chain has received a new round of funding....RSE Ventures, a firm with ties to the Miami Dolphins NFL team has invested
report this spring from Pentallect shows that independent restaurants are projected to gain more sales than chains in years 2017 to 2020