Shares of Texas Roadhouse soared to record highs Tuesday as investors digested the casual dining company’s better-than-expected first-quarter results. While Texas Roadhouse surprised analysts with the numbers, how it got there was far from complicated, executives explained in a conference call.
Bob Evans Farms, Inc. announced the completion of its previously announced sale of Bob Evans Restaurants to Golden Gate Capital on April 28, and the completion today of its acquisition of Pineland Farms Potato Company.
Gregory Trojan, CEO and president of BJ’s Restaurants, said the 192-unit chain remains focused on “needle-moving sales building initiatives” as it continues trending in the right direction.BJ’s reported first-quarter earnings of $9.
Bloomin’ Brands made “significant progress,” in the first quarter, CEO Liz Smith said in a conference call Wednesday, giving a nod to the casual dining company’s current initiatives as well as what she believes can be an exciting tailwind for an industry that has experienced consistent traffic declines in recent years.
Gloomy forecasts aren’t hard to find these days. But don’t tell that to the restaurateurs on the front lines.Toast Restaurant POS released its “Restaurant Success in 2017 Industry Report,” a study that compiled data from 450 operators representing all segments of the industry, and came away with a unique take in today’s foodservice world: a sense of optimism.
East Coast Wings + Grill, a North Carolina-based comfort dining franchise with an emphasis on buffalo wings and craft beer, is soaring through Q2 2017 with strong growth marks.With 38 locations currently operating, in Q1 2017 the brand added to its pipeline of new markets by signing agreements to open locations in Indian Trails, North Carolina, and Myrtle Beach, South Carolina.
The arrival of spring brought a bit of good news for the restaurant industry: From a sales and traffic perspective, March wasn’t quite as bad as February.However, sagging results means the industry has reported negative sales in 11 of the last 12 months, according to TDn2K, which compiles data based on weekly sales from over 26,000-plus restaurant units and 145-plus brands, representing $66 billion in annual revenue.
The restaurant industry is at a crossroads. That was the conclusion reached by AlixPartners, a global business-advisory firm, after conducting a survey of more than 1,000 U.S. consumers.AlixPartners believes some of the alarming numbers can present an opportunity for savvy operators to either change course or keep barreling forward, and that the issues are not just a blip but rather a sign of structural changes besetting the industry.
Ascentium Capital LLC, a national commercial lender, announced first quarter funded volume reached $225.1 million representing 25.5 percent growth and managed $1.6 billion in assets, representing a 37.
The ONE Group Hospitality, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2016.Highlights for the fourth quarter ended December 31, 2016 were as follows:The fourth quarter marked our eleventh consecutive quarter of revenue growth;Owned unit net revenues increased 7 percent to $18.
BDO USA released its FY 2016 edition of The Counter, its annual benchmarking update that analyzes the operating results of publicly traded restaurants.Aligning with other forecasts, the report found that sales continued to lag across the industry as uncertainty around the U.
Playing music that has a good fit with a company’s brand increased customer well-being and hiked sales for a major restaurant chain, the largest academic study of background music ever conducted shows.
Coinciding with the brand’s announcement of its Q3 earnings results, Darden Restaurants will add casual dining brand Cheddar’s to its portfolio that includes Olive Garden and LongHorn Steakhouse.Why Did Darden Take This Gamble? Read More About it HereFrom expanding to-go offerings to focusing on real estate, here’s a look at how the company continues to improve its restaurants and how it plans to integrate Cheddar’s.
It isn’t every day that a major casual dining company precedes a financial review with a $780 million jolt. In this sector of the industry especially, it has become commonplace for organizations to huddle and guard their assets.
A November study by Market Force Information revealed, in a surprising twist, that Cheddar’s Scratch Kitchen had unseated Cracker Barrel as America’s favorite chain. It was the first time the 165-unit chain even earned votes to be included in the rankings.