The Cheesecake Factory, Inc.’s first quarter earnings call for 2018, held April 25, found the executive team hopeful for the future. In its 2017 fourth quarter earnings call, the brand had laid out a new year plan of action that involved a focus on digital initiatives with a delivery-integrated point of sale system and a social media marketing strategy.
Après, a digital-first company based in San Francisco offering a plant-based protein beverage developed specifically for premium whole-body replenishment, announced Tuesday the closing of a $1.1 million seed series fundraising round led by Rocana Venture Partners.
South Florida’s successful SuViche Hospitality Group has acquired U.S.-based Novecento brand and in tandem with that acquisition is announcing the opening of Novecento’s fourth location. That opening, slated for summer 2018 in Doral, will signal the arrival of a new Novecento, featuring an updated look and feel, a revitalized menu, and a new wine and bar program.
In the Barclays Capital 2017 industry report on the fastest growing 200 private restaurant chains in the U.S., most of the top 20 consisted of quick-service eateries except for three: First Watch, Black Bear Diner, and Bar Louie.
Bertucci’s Corp. filed for Chapter 11 bankruptcy protection, the company announced Monday (April 16). The Northborough, Massachusetts-based pizza chain also revealed that it has a deal lined up to sell the business for about $20 million to an affiliate of Chicago-based investment firm Right Lane Capital LLC.
Despite a rocky beginning to 2018, there were signs of hope for restaurant operators. Taken from a helicopter view, strong sales to close the previous year led analysts to ask this question: Is a sudden downturn evidence of a fresh trend, or just Mother Nature’s latest cruel twist?March’s results would, thankfully, point to the latter.
Compared to the more glamorous aspects of running a restaurant—experimenting with new dishes, cultivating the perfect ambiance, recruiting top talent—bookkeeping is perhaps the duty restaurateurs are most loath to do.
In August 2017, The Cheesecake Factory started to show some kinks in its armor. After 29 consecutive quarters of positive gains, the brand’s same-store sales declined 0.5 percent in Q2, year-over-year.
Bain Capital Double Impact, which recently invested in fast-casual By Chloe, announced Tuesday (April 10) a strategic commitment to help grow Sustainable Restaurant Group and its two concepts, Bamboo Sushi and QuickFish.
RCI Hospitality Holdings, Inc. announced total and same-store sales for its Nightclubs and Bombshells restaurant segments for the second fiscal quarter ended March 31, 2018. The company plans to report complete 2Q18 results on May 10, 2018.
Fogo de Chão, Inc. and Rhône Capital announced the successful completion of the acquisition of Fogo by Rhône. The acquisition was announced on February 20, and the transaction closed and became effective Thursday.
A “dramatic change” in Dave & Buster’s amusement business triggered troubling fourth-quarter results. Same-store sales fell 5.9 percent versus a 3.2 percent increase in the year-ago quarter, tumbling the entertainment-driven brand’s stock nearly 7 percent late Tuesday.
Bloomin’ Brands CEO Liz Smith called the fourth quarter of fiscal 2017 “an excellent finish” to the year for the company’s concepts, especially its flagship—Outback Steakhouse. While comparable same-store sales growth of 4.
The leaders of Applebee’s and IHOP will be the first to admit the company’s challenges can’t be solved with a name change. DineEquity Inc. is now Dine Brands Global, Inc. The switch was, in some ways, the visible manifestation of changes that have been churning for months—fixes necessary to reroute the largest casual dining brands in America.
Chuy’s off-premise business accounted for about 12.25 percent of sales in the fourth quarter. As far as chief financial officer Jon Howie could recall, the number represented the largest mix in the chain’s 36-year history.