DFRG considers possible sale after acquisition of Barteca, activist letter Del Frisco’s Restaurant Group (DFRG) announced today that it will complete a strategic review, including the possible sale of the […]
More than 25 percent of sales for the combined chains of Bloomin’ Brands—Outback Steakhouse, Bonefish Grill, Carrabba’s Italian Grill and Fleming’s Prime Steakhouse and Wine Bar—in the very near future, said Elizabeth Smith, CEO for Bloomin’ Brands on a Q3 investor conference call September 29. The company benefited from having added 240 locations across the system thus far, and Bloomin’ Brands expects to add another 200 units by the end of this year... about 70 to 80 percent of Carrabba’s and Outback stores are “eligible” to be delivery restaurants (urban/suburban vs. rural).
Sonic Corp. announced its financial results for the fourth fiscal quarter of 2018 (Q4). Sonic agreed to a merger agreement.
Fiesta Restaurant Group, parent of Taco Cabana and Pollo Tropical, announced that Jackie Swift-Kurkjian has joined the company as senior director of Off-Premise Consumption. In this role, she will lead the efforts to build the catering, online and delivery sales channels at Pollo Tropical and Taco Cabana. Her role will help the brands leverage new information systems, resources and people as part of Fiesta’s Strategic Renewal Plan.
hake Shack reported its financial results for Q2 2018 in a company release and held an investor conference call August 2. Its total revenues, including licensing fees, increased to $116.3M, representing a 27.3 percent increase over the same quarter last year. Total operating store sales, including the impact of new stores, increased to $112.9M, a 28.3-percent increase from last year. Comparable store sales (“same-shack sales”) in Q2 increased 1.1 percent, compared to 1.8 percent decrease reported in the same period last year.
Fast casuals are the only segment in the restaurant industry that are growing traffic, says a report from NPD. The Chicago-based research firm has seen traffic grow 6 percent annually over the most recent five years. According to the NPD Fall 2017 ReCount restaurant census. The growth leaders among fast-casual chains included Chipotle, Panera, Panda Express, and Raising Cane's. Fast casuals have appealed to households with incomes of $100K or more.