Eatery Pulse Streem Script
Fresh, focused, future-forward news for the restaurant industry
Streem: Restaurant Revitalization Fund grants application process opens
The Restaurant Revitalization Fund grants are nearly here with the registration process already open and the SBA accepting applications on May 3. Restaurants should navigate to restaurants.sba.gov to register and apply.
An April webinar, hosted by the National Restaurant Association, brought the Restaurant Revitalization Fund Application process and related best practices into focus. A key to getting a leg up on the process is being prepared with the right documentation and understanding which types of eateries quality and just how much they quality for, which cannot exceed $5M per location.
Who should be eligible? A restaurant, food stand, food truck, food cart, caterer, saloon, tavern, bar, lounge, licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products, snack and nonalcoholic beverage bars, and other similar places where people assemble for food or alcohol are in. The first 21-days of the application process will prioritize businesses owned and operated by women, veterans and socially- and economically-disadvantaged groups.
Franchises with 51% independent control are eligible and the SBA will have a franchise directory embedded in the web application.
Restaurants with over 20 locations (together with affiliated businesses) regardless of multiple or different operating names as of March 13, 2020 are ineligible. Also ineligible are certain businesses that have filed for bankruptcy are in process for certain types of bankruptcies, with more details found in the ondemand webinar.
Publicly traded companies, those who have applied for a Shuttered Venue Operator grant, state or local government-operated businesses, and non-profits are not eligible at this time. Permanently closed operations are not eligible, either.
Bakeries, breweries, microbreweries, wineries, distilleries, and brewpubs will have 2019 receipts subject to a minimum 33% onsite-sales threshold. That rule is dropped for 2020 receipts.
To obtain the amount of eligibility restaurants should subtract 2020 gross receipts from 2019 gross receipts and also subtract out first and second draw PPP loan amounts. For businesses established during 2019, subtract the monthly average gross receipts in 2020, x 12, from the average gross receipts in 2019 x 12. Then, subtract out the first and second draw PPP loan amounts.
Documentation will be so important to the process and is key to preparedness. It’s not necessary to have an accountant or accounting firm, but it is recommended, notes the National Restaurant Association. As restaurant operators go through the process, they should know that tax forms and letters of comfort from CPAs will go a long way in expediting their application.
Federal tax returns and the 3 most recent bank statements will fare prominently in the process. There is a crucial sample list of documents available in the ondemand webinar from the National Restaurant Association (. Note that the SBA will not be able to make corrections to your application, but you will be able to ask questions within the web application. Call the SBA assistance for help at 844-279-8898
Grants should be spent on eligible expenses only and unused grant amounts will need to be returned to the Treasury. Thus far, eligible expenses include
Payroll, rent, mortgage obligations, utilities (i.e. PPP First Draw);
Maintenance expenses such as construction to accommodate outdoor
seating and walls, floors, deck surfaces, furniture, fixtures, and
Protective supplies such as PPE and cleaning materials and covered
supplier costs (i.e. PPP Second Draw);
Food and beverage expenses within the scope of the normal business
practice before the covered period;
Paid sick leave;
Full debt services (EIDL, 7a, unforgiven PPP, credit cards, etc.).
Spending of expenses is from the beginning of the covered period, or February 15, 2020, to the end of the covered period, March 11, 2023.
Where to apply? Navigate to restaurants.sba.gov or use your point-of-sale vendor that participates with the SBA’s Restaurant Revitalization Fund. (POS vendors can also substantiate receipts with a special report, in participation with the SBA, no matter how restaurants apply.)
Restaurants can also call 844-279-8898, but this process will take much longer. Restaurant operators should create a plan to submit their applications online, the SBA suggested strongly..
Find the Restaurant Revitalization Fund ondemand webinar at https://restaurant.org/events/learning/webinars.
That’s it for this segment of Eatery Pulse Streem. To obtain a copy of this transcript, navigate to Eaterypulse.com/script. To keep up with all our restaurant news, sign up at subscribe.eateyrpulse.net and check out our news briefs at eaterypulse.com.
Streem: Restaurant chains launch LTOs, seasonal packaging
Thank you for joining us for another segment of Eatery Pulse Streem – restaurant industry news delivered to where you are. Fresh. Focused. Future-Forward.
A new wave of the pandemic spreading across the country has brought the reality of how challenging business is for restaurants into focus. First, single-unit and multi-unit operators must succeed despite renewed restrictions. Second, according to foodservice research consultancy Technomic, they face shortages of PPE, cleaning products and packaging. Third, they must compete in the virtual world as much of the drive-by and pedestrian traffic has shrunk, particularly in urban areas. Fourth, restaurant operators must optimize their menu for to-go orders and maintain interest by featuring seasonal dishes and introducing new menu items.
Chain restaurant operators are adding limited-time and new menu items to keep customers engaged. Let’s look at some examples:
Tim Hortons released its line of holiday Peppermint beverages, holiday special merchandise and a Peppermint Dream Donut. A Peppermint Hot Chocolate, Peppermint Mocha Latte and Peppermint Mocha Cold Brew arrive at participating shops.
Del Taco launched a new line of Shredded Pork Tamales and introduced Tamaledays, Fiesta Packs and Family Friday Deals to bolster business during the holidays, available at participating stores November 19. Limited-time menu selections include the Cholula Smothered Tamales, Red and Green Smothered Tamales and Chili Cheese Smothered Tamales. Tamaledays allow customers to access special Friday deals on the Del Taco app each week in December.
Packaging is another way that chain operators are attracting customers to o dining rooms
Kentucky Fried Chicken, or KFC, has brought back some of its most famous holiday buckets, playing on the nostalgia of its vintage collection, recreating the special designs during the holidays as part of a long tradition. This history goes back to the 1960s. Now, KFC has recreated the 1966 and 1971 holiday buckets with a painstaking amount of detail, announced the QSR chain
Bojangles has brought back its Holiday Big Bo Box. The eye-catching seasonal packaging uses a classic yellow design in red-and-white-striped wrapping paper, to emulate a present, and features a red ribbon. Bojangles is promoting the Holiday Big Bo Box with a contest culminating in a grand prize of $5,000.
That’s it for this segment. To catch all our news, sign up at subscribe.eaterypulse.net and follow us on Facebook, Twitter and Linkedin.
Streem: Roark Capital gets busy with deals
Two big acquisitions were recently announced and they both involve an Atlanta-based private equity firm that focuses investment on retail and foodservice companies. That company is Roark Capital.
Affiliates of Atlanta-based Roark Capital, a private equity group focused on retail and foodservice franchise brands, has sold the Corner Bakery cafe chain to Pandya Restaurant Group. Roark Capital acquired the then-119-unit chain, and its parent Il Fornaio in 2011.
Pandya Restaurant Group is part of the Rohan Group of Companies, which also owns Boston Market, acquired in April, through its Engage Brands entity.
Dunkin’ Brands has agreed to be acquired by Inspire Brands, a restaurant company controlled by private equity firm Roark Capital, for $11.3B, including the assumption of debt. The acquisition will take the parent of Dunkin’ and Baskin-Robbins private for $106.50 per share. Dunkin’, which posted US comp sales growth of 0.9 percent during its third quarter, has seen its business evolve during the pandemic.
With Dunkin’ Brands under its umbrella, Inspire brands will generate $26 billion in systemwide sales and operate more than 31,600 restaurants in 60+ countries.
For Dunkin’, June comp sales in the US were down only 9 percent while it handled transactions in to-go format and july month-to-date comp sales had turned slightly positive. A growing number of DD Perks members are also boosting recurring business for the coffee chain. Loyalty enrollment increased 110 percent year over year in its third quarter.
Inspire Brands should provide Dunkin’ access to a strong set of new, multi-unit operators that can help it expand and join its franchise system. Dunkin’ and Inspire Brands’ restaurant concepts are complementary since most of the latter’s are focused on the afternoon and evening daparts. Currently, Inspire owns Arby’s, Buffalo Wild Wings, Jimmy John’s, Rusty Taco, and Sonic Drive-In.
Moving forward, Atlanta-based Inspire Brands executives expect to bring to bear their company’s expertise in data analytics and leverage in media buying. There are additional efficiencies of scale and it’s not certain whether the Canton, Mass.-based office will remain intact.
Dunkin’ Brands has an extensive and well-established network of international partners that will complement Inspire Brands’ global network. The Canton, Mass.-based company also has a unique perspective on the to-go business and operating with very small footprints—a valuable insight that could serve Inspire Brands’ 11,000 stores well into and beyond the pandemic. In addition, its Dunkin’ and Baskin-Robbins brands have near-universal recognition.
Streem: For restaurant chains to succeed amid a pandemic, time is of the essence
Thank you for joining us for another segment of Eatery Pulse Streem – restaurant industry news delivered to where you are. Fresh. Focused. Future-Forward.
The health crisis has elevated the interaction between restaurants and their customers. First, by and large, consumers are expecting restaurants to adopt safety measures, including the distancing of tables and restricting the number of diners. In September, a growing number of consumers wanted these measures in place, indicating there was a greater penchant for practices that safeguard customers and staff.
Second, we’re seeing an increased emphasis on making ordering easy for customers and the fruits of the labor of several restaurant chains through a 2020 Time Study. Restaurants are all in on takeout, including pickup, drive-thru and delivery. According to an annual assessment by Rakuten Ready in its “2020 Time Study”, order-head pickup efficiency has become increasingly important in today’s time-starved and pandemic-concerned world.
While the results were a bit surprising this year, QSR was the only segment that maintained top time ratings. The study examines the wait times among several restaurant chains juxtaposed against customer satisfaction scores. This year, Rakuten Ready also added a new casual-dining segment for assessment and evaluation.
“Consumer behavior has changed, so brands must continue to innovate around contactless – it’s not just a short term trend, it is here to stay,” noted Rakuten Ready. Among QSRs, Chipotle’s 1:54 time was the best last year and also this year in the arena of in-store pickup. Chipotle also delivered some of the highest CSAT (Customer Satisfaction) scores– not surprising for a chain that has invested heavily in the digital experience.
Rakuten Ready, which is a company that provides app-based solutions for order-ahead pickup, identified Starbucks, Domino’s, Dunkin’ and Taco Bell as additional chains that were able to deliver short wait times and high customer satisfaction scores.
In the drive-thru arena, Starbucks was a clear winner at a wait time of 2:51. Pizza Hut also performed admirably with a wait time of 5:21, although the experience was noted as somewhat confusing. Meanwhile, “Starbucks had a consistently easy and positive experience across all trips.”
When it was time to deliver curbside, casual-dining chains demonstrated an ability to get orders delivered within three minutes. A surprise to some might be Olive Garden, which posted a 2:59 wait time.
Eatery Pulse Streem: Wild Wild West of disruption, restaurant giving back, executive appointments
Thank you for joining us for another segment of Eatery Pulse Streem – restaurant industry news delivered to where you are. Fresh. Focused. Future-Forward. In this segment, we talk about more goings on in the industry as fall approaches, including Dunkin’s call for fall treats, leadership appointments and the industry giving back.
Before we get started, we know the health crisis has caused challenges for the industry, but it’s also accelerating disruption. We’ll see that take shape in the digital realm, ghost kitchen and virtual concept space, real estate and finance. It’s a Wild Wild West for larger players in the technology and hospitality sectors.
Take for instance, the recent acquisition of Johnny Rockets by Fat Brands, which has amassed a beef-and-burger centric empire with sales totaling over $700M by its corporate and franchise concepts. It will add Johnny Rockets to a chain that already includes Elevation Burger, Fatburger, Ponderosa and more.
With a new season just around the corner, Dunkin’ announced unveiling its fall pumpkin and snack selections by August 19th. Nationwide, limited-time offerings (LTOs) include a new formulation of the coffee chain’s Pumpkin Spice Latte, a selection of Pumpkin Flavored Coffees, and a new Chai Latte. Plus, the coffee chain is readying an Apple Cider Donut, Apple Cider Donut Munchkins, a Maple Sugar Bacon Breakfast Sandwich, Pumpkin Donut, Pumpkin Munchkins, and a Pumpkin Muffin.
New snack items also arrive: Stuffed Bagel Minis, Steak and Cheese Rollups and Maple Sugar Seasoned Snackin’ Bacon. As fall gets closer,expect many other fast-food and fast-casual restaurant chains to follow suit. Seasonal LTOs, new and nostalgic flavors are great ways to get customers excited about trying something new or newly returned. So LTOs will be a big part of industry headlines over the coming month.
A post-pandemic world approaches and chains are strengthening their teams as we move forward in a challenging environment. Buffalo Wild Wings tapped Rita Patel as the chain’s new CMO. She oversees brand marketing at the Target Corporation and will move into her new position in mid-September. Chicken Salad Chick promoted 5 new executives to reinforce its confidence in its leadership team, coming off an impressive 2019 with double-digit unit growth and its acquisition by Brentwood Associates. The fast casual promoted Jim Thompson as COO, Terry McKee as chief development officer, and Tom Carr as chief marketing officer, in addition to Mary Lou Atkins as VP of Human Resources and Carrie Evans as VP of Franchise Development.
At Lawry’s Restaurants, Ryan O’Melveney Wilson was promoted to chief executive officer, reported NRN. He’s a member of the founding family and formerly served as CMO. Lawry’s is the parent of , SideDoor, the Tam O’Shanter, Lawry’s The Prime Rib, Five Crowns and Lawry’s Carvery.
At Bojangles, it’s Bo Time! The chicken-and-biscuit chain, which is nicknamed Bo, is entering the fall season with a different kind of shakeup. The QSR has refreshed its logo, dropping the apostrophe at the end of its name, and revamped marketing, emphasizing its Southern Hospitality and scratch preparations. It’s also released new ad spots with retiring NASCAR driver Dale Earnhardt, Jr.
In a time of need, restaurants continue to support their teams and community. KFC US is donating 1 million pieces of chicken to teachers and administrators across the country. Its franchisees will be able to feed our educators as they return virtually or in-person to their classrooms.
Papa John’s is supporting its team members with an enhanced educational program in partnership with Southern New Hampshire University (SNHU) and University of Maryland Global Campus. These schools will be added to the Dough & Degrees program, which already offers programs at Purdue University Global. The program benefits team members, corporate staff and their immediate families by providing reduced-cost tuition programs. It’s a class-A college education without the hefty price tag, as most programs only cost around $2,500 per semester. Papa John’s is also in the process of hiring another 10,000 team members as we enter the fall season.
That’s it for this segment of Eatery Pulse Streem. To obtain a copy of this transcript, navigate to Eaterypulse.com/script. To keep up with all our restaurant news, sign up at subscribe.eateyrpulse.net and check us out at eaterypulse.com.
Eatery Pulse Streem August
Thank you for joining us for another segment of Eatery Pulse Streem – restaurant industry news delivered to where you are. Fresh. Focused. Future-Forward. In this segment, we talk about recent menu launches and some financial news making its way around the industry..
Spring and summer have seen a lot of creativity from operators as they work to recover sales amid a pandemic. From launching family meals to the introduction of new dishes and products, restaurant operators are finding ways to create excitement on their menus. And multi-unit operators are turning up the heat on the volume of new and limited-time offerings.
El Pollo [POHYOH] Loco added a vegan reformulation of its Chickenless Tacos and Burritos. and Sarpino’s Pizzeria added new vegan options to its menu. Sarpino’s introduced a Vegan Margarita Pizza and Vegan Italiano, using Beyond Meat and Daiya cheese.
Del Taco added Crispy Chicken to its menu. Tacos for $1, a $4 Crispy chicken Tender Box and the Epic Crispy Chicken & Fresh Guac Burrito for $5 are all value-based new menu introductions. Kahala Brands’ PInkberry concept debuted a new Watermelon Lime frozen yogurt – just perfect for the season, and Smashburger brought back the Colorado Burger nationwide for the month of August. It pays tribute to the fast casual’s hometown, and is part of its 13th anniversary.
What’s more, Sonic debuted a Toasted S’mores Shake harking back to summer campfire days.
Now, let’s take a look at some headlines and financial results:
- As Restaurant Brands International released its second quarter financial results, Popeyes continued its Cinderella story, posting comp sales increases of 24.8% and adjusted EBITDA [ee-bit-duh] growth of $10 million from $41 million in 3029 to $51million this year — quite impressive. The Fried Chicken Sandwich and a new BOX promotion has continued to impact the top line at Popeyes. Average unit volumes at the Louisiana-inspired QSR are now $1.7M. Tim Hortons continued to drag down the company and comp sales that decreased 29.3%. Burger King’s comp sales decrease of 13.4% in the quarter showed a fair amount of resilience and by the end of the quarter and the beginning of the new quarter comp sales turned flat. Burger King’s extensive network of 6,500 restaurants with drive-thrus made it a convenient stop for the pandemic consumer. A total of 6,100 Burger King locations now offer delivery. Promotions like the 5 for 4 meal and Dollar Nuggets have also helped.
- Jack in the Box comp sales in its fiscal third quarter were within earshot of 2019 sales levels. Total system wide comp sales in the quarter decreased 4.2 percent while diluted earnings per share were 59 cents, down from 96 cents last year. The restaurant company credited an increased check size due to group orders and premium items, including the Homestyle Chicken Sandwich and Classic Buttery Jack for its ongoing comeback. Having breakfast items available all day has helped satisfy consumers shifting visit occasions to the afternoon. Also, Jack in the Box delivery and mobile app sales have doubled.
- Papa John’s financials results were Shaq-i-fied. Second quarter comp sales increased 28 percent in North America and preliminary July comp sales results are north of 30%! Adjusted Diluted earnings per share for the quarter were 48 cents, up from 16 cents in the same period last year. The Shaq-a-Roni Pizza helped raise $2M in charitable contributions and sell just as many pizzas. Shaq O’Neal, a Papa John’s board member and franchise owner, provided inspiration for the extra large pizza offering. Menu innovations along the lines of Garlic Parmesan Crust, toasted handheld Papadias and Jalapeno Popper Rolls have certainly propelled sales. Mobile orders continue to grow at the once-beleaguered pizza chain and now account for 70% of orders. We’ve also come up on the one-year mark that Rob Lynch, a veteran restaurant executive with deep marketing prowess, has been with Papa John’s and the pizza chain’s results keep rising.
That’s it for this segment of Eatery Pulse Streem. To obtain a copy of this transcript, navigate to Eaterypulse.com/script. To keep up with all our restaurant news, sign up at subscribe.eateyrpulse.net
July-August Eatery Pulse Streem
Thank you for joining us for another segment of Eatery Pulse Streem – restaurant industry news delivered to where you are. Fresh. Focused. Future-Forward. In this segment, we talk about the new menu launches and some financial news around making their way around the industry..
Although larger restaurant chains are experiencing a return to last year’s sales levels, based on recent quarterly earning results, many independent restaurants continue to struggle as volumes drop 30 percent, 40 percent or more. It’s a dire situation, in particular, for restaurants that cannot ramp up a robust off-premises business.
Let’s take a look at ome headlines and financial results:
- Starbucks’ comp sales dropped 40 % during its second quarter in the US,, but as it finished the quarter, the coffee chain turned its sales positive. In July, month-to-date comp sales reflected a 2% comp increase. Reward members, digital sales and curbside deployment have helped the chain regain its footing.
- Dunkin’ US posted a 18.7 % drop in comp sales during its fiscal second quarter, but June reflected only a 9% decrease. In July, company executives indicated the coffee chain is running low positive comps. New menu introductions, including Refreshers, Croissant Stuffers, Matcha Latte and Snacking Bacon help boost the afternoon business, as the morning daypart suffered. The deployment of curbside at 1,400 stores and an increase in Next Gen concept stores to 700 units also boosted the recovery. Next Gen is primarily designed for order-ahead pickup and drive-thru orders. A revamped real estate strategy will lead to the closing of 800 stores in the US and 350 abroad
- The Cheesecake Factory’s comp sales decreased 56.9 percent. Remarkably, stores that had reopened for the full month of June and were at 50-percent capacity were only 13 percent down in comp sales. In July, restaurants have been trending in a better direction. What’s more impressive is that off-premises sales have escalated to $4.2M on average per store during the pandemic. At restaurants that have reopened, executives say there is still an incredible amount of demand as wait times for on-premises dining are quite lengthy
- Is Wingstop the new darling of the industry? The fast-casual chicken-wing chain, which has not reopened dining rooms, has earned much praise and attention as comp sales increased 31.9% amid the pandemic. In takeout mode only, the chicken-wing chain certainly was impressive. Executives said its offering is quite unique albeit in a crowded category. Wings are made to order and the quality is quite high, with chicken thighs sourced in sizes larger than most competitors use – jumbo size wings – noted the management team. Net income was $0.39 per diluted share in the quarter compared to $0.17 in last year’s same quarter. On the heels of National Chicken Wing Day, in which Wingstop offered a BOGO promotion and virtual summer DJ music festival to celebrate the day, the QSR looks to buck the performance trend of many other operators.
And Ghost kitchens continued to make headlines:
Ghost kitchen provider Zuul raised $9M to expand its ghost-kitchen operations in New York, with plans to expand to all boroughs. It will expand head-to-head with Kitchen United in the city. sbe continues to launch virtual restaurants and plans to leverage real estate with Acoor and Simon Properties to create virtual and actual food halls. Butler Hospitality already has a foothold in ghost kitchen deployment using under-utilized hotel kitchens, having raised $15M in a “Series A” funding round in July
How will the pandemic impact restaurant design? To learn more, navigate to restaurantcsuite.com to read our summer Restaurant C-Suite Magazine issue. In addition, we’ll be diving deeper into the challenges facing restaurateurs across the country and their stories in our fall issue, and how technology will help propel some savvy restaurant operators.
That’s it for this segment. To read a copy of this transcript, navigate to eaterypulse.com/script. To keep up with all our news updates, sign up at subscribe.eaterypulse.net
June Eatery Pulse Streem
This is Bryce Shemer with Eatery Pulse Streem—news delivered to wherever you are. We’re part of the Eatery Pulse Network, a fresh, focused, inspired news source across six information and support services brands. In this segment, we discuss restaurant reopenings, acquisitions and the state of off-premises.
Earl Enterprises has bought the Brio Tuscan Grille and Bravo Italian Kitchen. It’s a deal worth about $29.55 million dollars, according to NRN. $25 million will offset debt owed to the buyer by FoodFirst, the seller; the rest is paid via $50,000 in cash and the buyer assumes another $4.5M worth of debt. This will allow many of the 4,000 workers who were previously laid off to come back, but not all closed stores are part of the deal.
Restaurant delivery is facing disruption and change on many fronts. In a deal worth $7.3 billion dollars, according to Fortune, Amsterdam-based Just Eat Takeaway made a bid to acquire Chicago-based Grubhub. The acquisition will bolster Grubhub as it’s challenged to take market share from DoorDash and Uber Eats. DoorDash is the #1 third-party delivery service by market share. Restaurant delivery is not profitable for these third-party app companies and many of the orders delivered for their independent restaurant clients, which pay up to 30% in commissions for the service, are not profitable either!
According to foodservice consultancy Technomic, amid the pandemic,76% of restaurant operators say they want a flat commission fee from third-party app service providers, which have been much in the headlines as of late. The exorbitant fees that cut against the grain and vitality of restaurant economics are a liability as we look at the survival of third-party providers over the next 18 months. San Francisco, Seattle and Washington, D.C. have implemented commission caps on fees. It’s not surprising since 71% of restaurants operators say third party fees should be capped by law. And use of third-party delivery services is down in the most recent weeks of May, according to a Technomic COVID-19 business update.
Artificial Intelligence may be powering more of consumers’ drive-thru experiences. Two acquisitions in 2019 led to McDonald’s getting a jump on this technology, but now KFC is getting into the picture, according to the consulting firm’s new Foodservice technology whitepaper. For large restaurant companies, AI is a worthwhile investment but one that has to be handled with care and managed with privacy issues in mind.
Virtual restaurants, including those from hospitality management company sbe, which is setting up its own virtual brands, including Plant Nation, are popping up around the country. Plant Nation is the 3rd delivery-only restaurant launched by sbe. Saladworks and Fat Brands, the parent of Fatburger, are also launching ghost-kitchen-powered locations – these will be serviced by third-party delivery providers.
As nearly half of diners continue to avoid eating out, and many states still mandate restrictions, restaurants are fighting for survival. There are success stories, as well as closures that have become all too common. Among casual-dining brands, Applebee’s, IHOP, Outback Steakhouse and Carrabba’s had taken on off-premises dining aggressively as they returned within earshot of last year’s sales levels. In fact, Outback and Carrabba’s are now within 15 percentage-points of 2019 sales at locations that have reopened dining rooms.
On the subject of maximizing real estate, coffee giant Starbucks is doubling down on its Pickup Store format, as it closes 400 traditional restaurants and reevaluates properties, leaving behind many low-traffic mall locations, as well. This plan will lead to a net loss of about 100 stores by the end of this year in its Americas market. Prior to the COVID-19 pandemic, 80% of Starbucks’ orders were for takeout.
Thanks for tuning into this Eatery Pulse Streem news segment. What will bring customers back? We’ll have some of those insights in our next Restaurant C-Suite Magazine issue. Catch more news briefs, data driven insights and original-source articles at eaterypulse.com and through the Eatery Pulse Network. For a transcript of this news update, navigate to eaterypulse.com/script or sign up at subscribe.eaterypulse.net
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