Finance

Restaurant Sales Continued to Decline in May

While positive signs are emerging, the restaurant industry remains a volatile environment for operators, as May’s results showed. Same-store sales declined 1.1 percent across chain restaurants—a 0.

Firm Agrees to Buy Ignite Restaurant Group for $50 Million

A “long and thorough” process for Ignite Restaurant Group is one step closer to a conclusion. The struggling parent company of Joe’s Crab Shack and Brick House Tavern + Tap announced Tuesday it has entered into an agreement with an affiliate of San Diego-based private equity firm Kelly Companies to sell both brands in a cash bid offer.

Study: Business Dining is Undermanaged

For the second consecutive year, Dinova, Inc., and The BTN Group have partnered on a joint industry research study, and today announced the results. Once again, the research finds that business dining is one of the more undermanaged areas of the corporate expense budget.

Two Buyers Reportedly Emerge for Ignite Restaurant Group

A lifeline for Ignite Restaurant Group could be in the works. Citing unnamed sources, Debtwire said Landry’s and American Blue Ribbon Holdings have emerged as possible buyers for the struggling company’s two casual dining brands, Joe’s Crab Shack and Brick House Tavern & Tap.

Report: Full-Service Restaurants Reigned Supreme on Memorial Day

We all know Mother’s Day is the mother of all dining-out events. Followed by Valentine’s Day and then pretty much everything else. The National Restaurant Association found that 92 million American adults, or 37 percent of consumers, planned to dine out on Mother’s Day and 21 million, or 8 percent, had designs to order delivery or takeout.

Buffalo Wild Wings' CEO: Millennials are a Challenge

As management differences escalate between Buffalo Wild Wings and activist investor Marcato Capital prior to the company’s annual shareholder meeting June 2, CEO Sally Smith issued a letter defending the company’s approach.

As Sales Decline, Cracker Barrel Plots a Path Forward

Despite results that “performed below our internal expectations,” Cracker Barrel raised its earnings guidance for the fiscal year following its third-quarter report. Sandra B. Cochran, the company’s president and CEO, said during a conference call that marketing and advertising didn’t deliver the sales and traffic the brand hoped.

Joe's Crab Shack, Brick House Face Murky Future

Ignite Restaurant Group’s Securities and Exchange Commission filings revealed some alarming sales declines during what appears to be a transitional period for the parent company of Joe’s Crab Shack and Brick House Tavern.

Famous Dave’s Refranchising Company-Owned Stores

In the next 12 to 24 months, company-owned Famous Dave’s will be a thing of the past. But in the meantime, the chain could close additional stores, CEO Mike Lister said in a conference call.The 173-unit chain reported comparable-restaurant sales declines of 4.

Optimism Surges as Red Robin Beats 1Q Expectations

Red Robin CEO Denny Marie Post addressed the “hot topic of off-premise” business during the company’s first-quarter earnings call on Tuesday afternoon. The conversation took place as shares of Red Robin jumped more than 15 percent in late trading following a better-than-expected report and boosted guidance.

The ONE Group Reports 12th Consecutive Quarter of Growth

The ONE Group Hospitality, Inc. announced its financial results for the first quarter ended March 31.Highlights for the first quarter ended March 31, 2017 were as follows:The first quarter marked the 12 consecutive quarter of revenue growth.

Ignite Restaurant Group Reportedly on Verge of Bankruptcy

Ignite Restaurant Group, parent company of Joe’s Crab Shack and Brick House Tavern, could be on the verge of bankruptcy, according to Bloomberg, which cited “people familiar with the matter.” The article reported that the company was preparing to file as early as this week.

Chuy’s Expects to Open Up to 14 Restaurants in 2017

Chuy’s Holdings, Inc. announced financial results for the first quarter ended March 26, 2017.Highlights for the first quarter ended March 26 were as follows:Revenue increased 11.3 percent to $86.9 million from $78.