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.
Off-premise food popularity was a top dining trend identified this year. As consumers look for more convenience, there is no shortage of chains wanting to bring the food to where the consumers are. For IHOP, the sales momentum it gained in its Q2 2018 quarter was not exclusively due to the initial lift... but also due to a focus on off-premise sales and operational execution. Through the Starbucks-Alibaba partnership, delivery will be launched in Beijing and Shanghai in September, expanding the program to 30 cities and more than 2,000 stores... enables the creation of “Starbucks Delivery Kitchens” within Hema supermarkets.
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.
Dickey’s Barbecue Restaurants is adding its first location in Broomfield, Colo, a northwest suburb of Denver, this summer. A franchise agreement with Brandon Gerrick has made the first Broomfield restaurant possible. The Broomfield location will be the 10th location in the Greater Denver Area and will be located at 1221 East 1st Avenue.
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.
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.
Under a partnership with Uber Eats, Popeyes will add delivery to its restaurants in the cities of Chicago, Miami, New York, New Jersey, and Washington, D.C. Using the Uber Eats mobile app and UberEats.com, guests can order menu items to be delivered to their homes or offices.