Finance

December Marks Worst Month in 3 Years for Restaurants

2016 closed on a sour note as December became the weakest month in over three years for same-store sales growth. The 4.3 percent sales decline for the month shrank the industry’s fourth quarter same-store sales result to -2.

Red Robin's Preliminary 4Q Results Show 4.5 Percent Revenue Decrease

Red Robin Gourmet Burgers, Inc., a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, announced preliminary, unaudited revenue results for its fiscal fourth quarter ended December 25, in conjunction with management’s scheduled presentation at the 19th Annual ICR Investor Conference at the JW Marriott Orlando Grande Lakes.

Dinova Tops $6B in Business Dining Spend Influence

Dinova, the only innovative, proprietary marketplace exclusively focused on connecting expense account diners to quality restaurants nationwide, announced that it has surpassed $6 billion in business dining spend influence.

Denny’s Reports Best Rate of Expansion in 5 Years

Denny’s Corporation, franchisor and operator of one of America's largest franchised full-service restaurant chains, reported preliminary results for domestic same-store sales and restaurant openings and closings for its fourth quarter and fiscal year ended December 28.

Total Revenue Down Nearly 18 Percent at Ruby Tuesday

Ruby Tuesday, Inc. announced financial results for the fiscal quarter ended November 29.Total revenue declined 17.7 percent to $214.7 million, which included a net reduction of 109 company-owned Ruby Tuesday restaurants compared to the second quarter of the prior fiscal year, including 95 restaurants closed in connection with the Fresh Start Initiative announced on August 11.

Sales Up 2 Percent at Bad Daddy’s Burger Bar

Good Times Restaurants Inc., operator of Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high-quality, all-natural products, and of Bad Daddy’s Burger Bar, a full-service, upscale concept, announced that its Bad Daddy’s same store sales increased 2 percent in its fiscal first quarter ended December 27, 2016 over the prior year’s increase of 6.

Full-service Restaurants Could Decline 2 Percent in 2017

U.S. restaurant industry traffic will remain stalled in 2017 in much the same manner it did in 2016, reports The NPD Group, a leading global information company. The New Year will bring little to no traffic growth for the total U.

Scotty’s Brewhouse Sold as it Readies for Expansion

Due North Holdings, LLC, through one of its subsidiaries, acquired Scotty’s Brewhouse, a popular Indianapolis-based restaurant concept that has carved out a niche as an “all ages welcome,” family-friendly sports bar and eatery under the direction of founder, Scott Wise.

Restaurant Traffic Continues to Drop in 2016

At negative 1.3 percent, disappointing restaurant sales growth in November was the ninth consecutive month of negative same-store sales; and the worst sales growth since July. Despite the economy growing at the fastest pace in two years during the second quarter, this growth did not translate into incremental sales for the industry.

Bob Evans Doesn't Close or Open a Restaurant in 2Q

Bob Evans Farms, Inc. announced its financial results for the fiscal 2017 second quarter ended October 28.Second-quarter fiscal 2017 commentaryPresident and chief executive officer Saed Mohseni says, “BEF Foods delivered another excellent quarter with 13.

Rising Healthcare, Student Debt Hurting Restaurant Industry

A confluence of squeezed consumer wallets, the rising cost of dining out, and changing needs and wants has brought the U.S. restaurant industry traffic growth to a halt in the first two quarters of 2016 and into the negative in the third quarter, reports The NPD Group, a leading global information company.

EquityEats' Funding Platform for Restaurant Owners

EquityEats, the first funding platform designed by restaurant owners, not Wall Street bankers, to serve the needs of restaurants, unveiled their new business model today, which is currently being rolled out.

Are We Witnessing the Death of Casual Dining?

Much of 2016 for the restaurant sector has been categorized by declining sales and traffic. For chain restaurants—and particularly the casual dining segment—the effect has been most pronounced, with brands shuttering stores and laying off employees as sales continue to drop.

Cracker Barrel's 1Q Sales Exceed Expectations

Cracker Barrel Old Country Store reported its financial results for the first quarter of fiscal 2017 ended October 28.First Quarter Fiscal 2017 HighlightsCompared to the prior year first quarter, comparable store restaurant sales increased 1.

Famous Dave's Posts Best Sales in 12 Quarters

Famous Dave's of America, Inc. reported financial results for the third quarter ending October 2.Highlights for the third quarter of 2016 as compared to the third quarter of 2015:Comparable sales for company-owned restaurants open 24 months or more decreased 1 percent compared to a decrease of 9.