Finance for Restaurants | Food Newsfeed
Continue to Site

Finance

Can Darden Work its Magic with Cheddar's?

Darden’s “brilliant with the basics” operating strategy has been the anchor for its industry-fronting results for years now, and the fourth quarter was no different. Same-store sales increased at every brand except its most recent acquisition, Cheddar’s Scratch Kitchen, resulting in a blended lift of 2.

Report: Restaurateurs Optimistic About 2018 Sales

Nearly 60 percent of restaurateurs indicate that hiring, training and retaining staff are among the top areas of opportunity for the industry, according to a survey unveiled today by Toast. The “Restaurant Success in 2018” Industry Report results also suggest optimizing speed and efficiency, as well as attracting and retaining customers, are the second and third most crucial challenges, respectively, for restaurateurs in 2018.

Planet Hollywood Owner Scoops Up Bertucci’s Out of Bankruptcy

Earl Enterprises, the company behind Planet Hollywood, Earl of Sandwich, and Buca di Beppo, has purchased Italian chain Bertucci’s out of bankruptcy. Earl Enterprises, which operates about 130 total locations, will pay more than $3 million in cash for Bertucci’s, as well as issue $13 million in new second-lien debt, and take on $4 million in debt.

Bravo Brio Owner Forms New Restaurant Company

American restaurateur Bradley D. Blum and Brazilian-based investment firm GP Investments, Ltd. announced the formation of a new restaurant company, FoodFirst Global Restaurants, Inc. With the intention to be a progressive, relevant, diverse, and highly successful restaurant company for the 21st century, FoodFirst Global Restaurants acquired its first brands, Brio Tuscan Grille (Brio) and Bravo Cucina Italiana (Bravo) in a transaction, which closed on May 24.