For Chuy’s, issues like persistent inflation of labor costs and the aftermath of a rainy hurricane season continue to squeeze the company’s profitability. Chuy’s president and chief executive officer, Steven Hislop, said it was a challenging third quarter for the company.
Tilted Kilt and its retracting unit count are being sold for $10. ARC Group, Inc., a restaurant holding company that owns 26-unit Dick’s Wings & Grill, outlined its plans to acquire the brand this week after first announcing the deal in June.
While Red Robin took steps to improve its service and marketing strategy during the third quarter, the results were still disappointing for the company, even with new training and systems in place. Chief executive Denny Marie Post said, “for now, we are, by no means, pleased with our performance through Q3, we are heartened by the energy and commitment of our teams as we have reengaged all of our frontline leaders and team members to regain our operational edge.
At Denver-based chain Snooze, food waste reduction is a multipronged effort. There is only one trash bin in each kitchen with multiple compost bins posted at each workstation. A quinoa bowl on the menu uses a ham broth that’s actually a byproduct of roasting pork overnight.
IHOP’s gamble on burgers and IHOb stunt over the summer seems to have paid off for the Dine Brands chain.During the third quarter, same-store sales increased 1.2 percent compared to this time last year.
Over the next 18 months, Denny’s plans to ramp up its refranchising initiative, with the goal of moving from 90 percent to 95 or 97 percent franchised-owned. Denny’s chief executive officer John Miller said by refranchising, the brand and franchisees will benefit overall.
UNO Restaurants, LLC, the owner, operator and franchisor of the UNO Pizzeria & Grill brand, announced the sale of eight company-owned restaurants to MVPizza, LLC as part of a broader re-franchising initiative.
Corlex Capital, LLC, an independent financial sponsor focused on control and minority equity investments in the lower middle market, announced its official launch of operations. Founded by five longtime industry professionals, Corlex Capital has redefined the private equity model by combining intellectual and financial capital to be thoughtful and impactful in every engagement.
After another quarter of gains, BJ’s Restaurants continued its streak of success in the casual-dining sector. Compared to last year, the 201-unit chain has executed one of the industry’s more impressive turnarounds.
While The Cheesecake Factory works to regain sales momentum, the company’s investments are heating up. Matthew Clark, EVP and chief financial officer, outlined the brand’s plans Tuesday afternoon to possibly acquire 14-unit North Italia.
When Chili’s nixed its LTO strategy in April 2017, it wasn’t solely about reducing menu complexity, size, and shifting operational focus to core items—there was a longer-term value play at hand. But developing a loyal base that expects everyday value, as opposed to those who seek it on a case-to-case and promotion-to-promotion basis, took some time to mature.
For some time now, Texas Roadhouse’s guarded approach and its ability to control costs have toed a fine line. Has that challenge finally caught up to the high-performing steakhouse? Shares plunged 11 percent in after-hours trading Monday afternoon following Texas Roadhouse’s third-quarter review.