When sales and traffic turned negative for Red Robin in the fourth quarter of 2015, the casual dining chain looked to its most loyal guests for answers. Research within its Red Robin Royalty base showed four major concerns: Speed and quality of service; value perception; ineffective advertising; and, lastly, the absence of carryout and delivery.
J. Alexander’s Holdings, Inc., parent company of J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill, and Lyndhurst Grill, announced it entered into a definitive agreement to acquire 99 Restaurants, LLC in an all-stock transaction valued at about $199 million.
Tex-Mex casual dining chain Chuy’s Holdings disappointed investors in its financial report Thursday when it announced its third straight quarter of same-store comparable sales decreases, falling by 1 percent.
Call it a lack of communication. On Wednesday afternoon, following The Cheesecake Factory’s earnings review, the brand responded to its first negative gains after 29 positive quarters with a leveled view.
Ruth’s Hospitality Group, Inc. reported unaudited financial results for its second quarter ended June 25, 2017 and announced a quarterly cash dividend of $0.09 per share to be paid in the third quarter.
BJ’s Restaurants was off to a strong second quarter before mid-May arrived. That’s when business started to soften and “tall industry challenges” weighed down the casual dining chain, which has seen its same-store sales decline for five straight quarters.
Advent International, one of the largest and most experienced global private equity investors, announced that it has agreed to make a majority investment in First Watch Restaurants Inc., the prominent breakfast, brunch, and lunch concept.
Predications of a rough second-quarter review for Buffalo Wild Wings crashed into reality Wednesday afternoon, with the chicken-wing chain reporting “disappointing” results and negative same-store sales that brought yet even more questions bubbling to the surface.
When it comes to the health and progress of Bloomin’ Brands, modest sales growth at its most recognizable brand doesn’t quite sum it up, said CEO Liz Smith in a conference call Wednesday. Rather the buzzword was traffic, and how increased guest counts and engagement are positioning the company for long-term prosperity amid an increasingly challenging landscape.
While restaurant industry performance has been dismal for the past six quarters, June’s results provided a bit of good news.The month’s sales and traffic growth were the best monthly performance since January, and the second quarter of 2017 posted the best results since the second quarter of 2016, according to TDn2K’s Restaurant Industry Snapshot.
Prominent private-equity firm Roark Capital Group added Alabama-based Jim ‘N Nick’s Bar-B-Q to its portfolio. Terms of the transaction were not disclosed.Roark Capital Group announced that its affiliate acquired a majority stake in the 37-unit chain, which started in 1985 and has since spread to seven states, including Alabama, Colorado, Florida, Georgia, North Carolina, South Carolina, and Tennessee.
Darden Brands reported its Q4 2017 earnings Tuesday and, yet again, the company’s premier restaurants are outperforming the casual dining segment.Olive Garden posted a 4.4 percent same-store sales increase—its 11th consecutive quarter of growth—while LongHorn Steakhouse reported its 17th consecutive quarter of same-stores sales growth and an increase of 3.
Behind the sales metrics and calculations driving Darden forward is a much simpler story. During a conference call Tuesday, CEO Gene Lee recalled the landscape three years prior. LongHorn Steakhouse and Olive Garden were standing at the terminal with suitcases full of luggage and zero chance of fitting them in the overhead bin.
Punch Bowl Social, a leader in the "eatertainment" restaurant category, announced that it has received a significant growth investment from L Catterton, the largest consumer-focused private equity firm in the world.