The restaurant industry received a jolt of good news in the fourth quarter. Same-store sales increased 0.4 percent, marking the first quarter of growth in the last two years, according to TDn2K’s The Restaurant Industry Snapshot.
When it comes to financing restaurants, Dan Bavaro has traveled the meandering, choppy path of so many entrepreneurs, chefs, and restaurateurs before him.For his first Bavaro’s Pizza Napoletana & Pastaria in Tampa, Florida, Bavaro relied on money earned through the sale of his New Jersey–based transportation business.
Dave & Buster’s expected its sales to improve during December, a typically strong season for the eat-and-play brand. The opposite happened. In response, Dave & Buster’s lowered its fiscal 2017 guidance, and Wall Street hammered the 105-unit chain because of it.
Michigan-based Buddy’s Pizza received a significant investment from CapitalSpring, the company announced Wednesday. The private-equity firm, which is focused exclusively on the restaurant industry and has worked with brands like Taco Bell and Denny’s, said the partnership will recapitalize the company and accelerate new store growth across the Midwest and beyond.
The future of the federal minimum wage rate is anybody’s guess right now. It remains $7.25 per hour, with no real clear path forward, although many pundits expect it to eventually rise. For now, though, 2018 brought minimum wage hikes in more than three dozen states and cities.
Guacamole is a point of pride for the culinary team at the two Dallas-area Urban Taco restaurants. And it’s no wonder; in addition to the traditional mix, the modern Mexican concept offers several inventive takes on guac.
Ruby Tuesday’s days as a publicly traded company are over. NRD Capital completed its acquisition of the beleaguered casual dining chain December 21, and will now take Maryville, Tennessee-based Ruby Tuesday private in a deal valued at $2.
On Sunday, Governor Andrew Cuomo of New York announced a proposal to end the tip credit in the state. The tip credit currently allows restaurants to pay tipped employees less than the federal minimum wage and use tips to make up the difference.
Ruby Tuesday revealed Monday that it turned down an offer it received from another suitor on December 12, and that it plans to close on its deal with NRD Capital this Thursday.The offer, which Ruby Tuesday called a “highly conditional and not fully financed proposal,” came from The Boaz Group, LLC, and was actually higher than its NRD Capital agreement.
To restaurant industry insiders and consumers alike, the headlines were jarring.“Danny Meyer Restaurants to Eliminate Tipping,” The New York Times relayed in October 2015, while NPR blared “Danny Meyer to Banish Tipping And Raise Prices At His N.
Four Foods Group (FFG), the nation’s third fastest-growing restaurant development, investment, and management company, continues its upward trajectory with the acquisition of Swig, the popular St. George, Utah-based specialty soda and food concept.
The worst appears to be over. For the second consecutive month, the restaurant industry reported positive momentum, a welcome sign for operators following one of the roughest third quarters in recent memory.
Charleston Hospitality Group has acquired FILL Restaurant & Bar, a dueling piano bar & restaurant featuring live piano music Tuesday through Sunday evenings and dueling piano shows on Thursday, Friday, and Saturday nights.
Buffalo Wild Wings announced Tuesday that it has entered into a definitive merger agreement with Arby’s Restaurant Group. ARG will acquire the casual dining chain for $157 per share in cash, a deal valued at about $2.