A lifeline for Ignite Restaurant Group could be in the works. Citing unnamed sources, Debtwire said Landry’s and American Blue Ribbon Holdings have emerged as possible buyers for the struggling company’s two casual dining brands, Joe’s Crab Shack and Brick House Tavern & Tap.
We all know Mother’s Day is the mother of all dining-out events. Followed by Valentine’s Day and then pretty much everything else. The National Restaurant Association found that 92 million American adults, or 37 percent of consumers, planned to dine out on Mother’s Day and 21 million, or 8 percent, had designs to order delivery or takeout.
As management differences escalate between Buffalo Wild Wings and activist investor Marcato Capital prior to the company’s annual shareholder meeting June 2, CEO Sally Smith issued a letter defending the company’s approach.
Despite results that “performed below our internal expectations,” Cracker Barrel raised its earnings guidance for the fiscal year following its third-quarter report. Sandra B. Cochran, the company’s president and CEO, said during a conference call that marketing and advertising didn’t deliver the sales and traffic the brand hoped.
Ignite Restaurant Group’s Securities and Exchange Commission filings revealed some alarming sales declines during what appears to be a transitional period for the parent company of Joe’s Crab Shack and Brick House Tavern.
In the next 12 to 24 months, company-owned Famous Dave’s will be a thing of the past. But in the meantime, the chain could close additional stores, CEO Mike Lister said in a conference call.The 173-unit chain reported comparable-restaurant sales declines of 4.
Red Robin CEO Denny Marie Post addressed the “hot topic of off-premise” business during the company’s first-quarter earnings call on Tuesday afternoon. The conversation took place as shares of Red Robin jumped more than 15 percent in late trading following a better-than-expected report and boosted guidance.
The ONE Group Hospitality, Inc. announced its financial results for the first quarter ended March 31.Highlights for the first quarter ended March 31, 2017 were as follows:The first quarter marked the 12 consecutive quarter of revenue growth.
Ignite Restaurant Group, parent company of Joe’s Crab Shack and Brick House Tavern, could be on the verge of bankruptcy, according to Bloomberg, which cited “people familiar with the matter.” The article reported that the company was preparing to file as early as this week.
Chuy’s Holdings, Inc. announced financial results for the first quarter ended March 26, 2017.Highlights for the first quarter ended March 26 were as follows:Revenue increased 11.3 percent to $86.9 million from $78.
The struggles of the retail industry, especially in malls, have been well documented. In the first quarter, nearly 3,000 retail stores closed, already beating the record highs of 2008, according to a Credit Suisse report.
J. Alexander’s Holdings, Inc., owner and operator of the J. Alexander’s Restaurants, Redlands Grill, Stoney River Steakhouse and Grill and Lyndhurst Grill collection of restaurants, announced financial results for the first quarter ended April 2.
The word volatile or volatility came up seven times during Denny’s first-quarter earnings call on Tuesday. As John Miller, president and chief executive officer said, the descriptor is an apt way to sum up the entire restaurant industry right now, as well as the challenging climate the brand faces as it looks to revitalizes one of America’s classic chains.
With a same-store sales decline of 7.9 percent for the first quarter of this year, Applebee’s is betting on new leadership and initiatives to turn the brand around.The chain recently named former Brinker executive John Cywinski as president, who said in a conference call Tuesday that Applebee’s needs to get back to its roots through meaningful structural changes and a focus on guest satisfaction.