Bloomin’ Brands chief executive officer Liz Smith saw no reason to downplay Outback’s recent performance. “I have never felt more confident in the brand health, and where Outback is,” Smith said during an October 29 conference call.
Activist investor Barington Capital Group, L.P. has pushed Bloomin’ Brands for change before. Back in February, the company sent a letter to Bloomin’s chairman and chief executive officer, Liz Smith, along with a detailed presentation that outlined how Barington felt Bloomin’ could improve shareholder value and the performance of its casual brands, Outback Steakhouse, Carrabba’s, Bonefish Grill, and Fleming’s.
Despite a continued lull in traffic, the restaurant industry put together its best quarter in three years, according to TDn2K’s latest Black Box report. Same-store sales grew 1.2 percent in the third quarter—the best since the Q3 2015.
Good Times Restaurants Inc., operator of Bad Daddy’s Burger Bar, a full-service, upscale burger bar concept, and Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high-quality, all-natural products, announced that its Bad Daddy’s adjusted same store sales increased 0.
Put bluntly, Pat Phelan recognizes the two paths to improved profitability: sell more or spend less.While Phelan, owner of The Jacobson, an upscale restaurant in Kansas City, Missouri, knows capturing higher sales is an enduring battle, he remains uber-mindful of different ways he might trim costs without hampering the quality and service that have become his 6-year-old establishment’s hallmark.
The only real kink in Darden’s performance right now is Cheddar’s Scratch Kitchen, the 157-unit chain it spent nearly $800 million on last April. Darden had to lower its sales outlook at the end of fiscal 2018 in anticipation of Cheddar’s drag on sales.
Six months after Congress passed new legislation around tip pooling, restaurants across the country continue familiarizing themselves with the guidelines and running the numbers to assess what makes sense for their individual operations.
Tune in to our webinar: Is Business Dining Your Restaurant's Silver Lining?Business travelers likely understand this frustration better than anyone else: When you’re far from familiar options at home, and with tens of thousands of restaurants to choose from, how is anybody expected to make a decision about where to eat?Yelp might help, or perhaps Google reviews, TripAdvisor or a colleague’s recommendation—the list goes on.
Two private-equity firms acquired five-unit Stacked, a tech-forward burger chain that specializes in customization, the companies announced September 10. Terms of the deal were not disclosed.Huntington Beach, California-based Stacked was founded in 2010 by Paul Motenko and Jerry Hennessy, the creators of 200-unit casual chain BJ’s Restaurants and Brewhouse.
Ruby’s Diner, a 1950s-themed concept based in Newport Beach, California, filed for federal bankruptcy protection on September 5 in Santa Ana. Ruby’s Diner, Inc., the operator and franchisor of the 32-unit chain, of which four are company run, said it has also entered into a plan support agreement with Steven L.
TDn2K’s latest industry snapshot returned a promising figure—same-store sales growth of 1.8 percent in August, which marked the highest growth rate since September 2015. However, this is one report worth keeping in perspective.
“Top Chef” alum and celebrity personality Mike Isabella filed for Chapter 11 bankruptcy protection September 6 in federal court. The chef’s restaurant group, Mike Isabella Concepts, was once a $30 million empire comprised of more than a dozen restaurants, multiple stands at Nationals Park in Washington, D.
On the heels of a challenging quarter, where same-store sales dropped 2.6 percent and guest counts fell 0.7 percent, Red Robin announced Tuesday afternoon that it’s making a C-suite change. The 572-unit burger chain said it is replacing chief operating officer Carin Stutz with Guy Constant.
ARC Group, which changed its name from American Restaurant Concepts in 2014, is dealing again. After announcing a complex plan to buy Tilted Kilt in June, the owner of Dick’s Wings & Grill said August 27 it has entered into an agreement to acquire the Fat Patty’s franchise.
The U.S. restaurant count reached 660,755 in spring of 2018, a 1 percent decrease in units from a year ago, based on a recent restaurant census conducted by The NPD Group, a leading global information company.