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.
Restaurant Business Online identified several up-and-coming chains in its Future 50. The data is based on 2017 information and estimates gathered by Technomic, Inc. The top five chains in the Future 50 comprise CoreLife Eatery, The Halal Guys, Wahlburgers, Maple Street Biscuit Co., and Honeygrow. Rounding out the top 10 are Bibibop Asian Grill, Babalu Tapas, Cava, Ahipoki Bowl, and Duck Donuts.
Fast-casual chain Teriyaki Madness has added a mobile app. Customers can order for in-restaurant pickup and will also be able to order for delivery in the markets in applicable markets.The Teriyaki Madness app integration for mobile ordering was created by Olo, a leading provider of seamless ordering at restaurants, which connected the app to the chain’s POS provider, Revel. Its rewards and special community features and enticements were designed by Punchh
Fast casual restaurants in the Washington, D.C. area continue to grow, as Philadelphia-based Honeygrow expands further in the MidAtlantic region. Honeygrow, which focuses on new and different stir-fry combinations, has 32 locations open across 10 states, currently—with 18 of those stores now open in the MidAtlantic. Stores in D.C. area include Chinatown, Reston, Pentagon City, and Rockville.
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.