Affordability, not discounting. It’s the foundation Red Robin believes will support long-term traffic and sales growth for quarters and years to come. But in the short-term? Challenging an increasingly value-focused casual sector isn’t always going to be pretty.
Amid the current wave of powerhouse restaurant groups debuting one multimillion-dollar buildout after the next, it’s easy to forget that much of the restaurant industry is still made up of those ragtag owner-operated spots launched with a few bucks and a dream.
Bravo Brio Restaurant Group rejected an acquisition proposal from Romano’s Macaroni Grill, the company announced May 15. The “unsolicited proposal” arrived May 9 and offered to purchase all of the fully diluted outstanding common shares for about $4.
For the first time since the second quarter of 2016, Famous Dave’s is back in the green. The barbecue chain reported net income of $998,000 in the first quarter, or 13 cents per share, compared to net loss of $1.
Kona Grill’s sales and traffic remain in the red. But can a summer of changes—both customer facing and internally—engineer a turnaround for the 46-unit brand?Perhaps the biggest move in recent months was Kona’s strategic investment with Nanyan Zheng, the magnate who grew Plateno Group into one of the world’s top five hotel companies with more than 4,400 locations.
Brinker International released a statement May 12 stating that an undisclosed amount of Chili’s guests had their payment card information compromised in a “data incident.” Brinker believes the incident was limited to between March–April 2018, however, the company continues to look into the scope of the breach.
The restaurant recovery is in full effect. TDn2K’s latest industry snapshot provided the most promising news in some time, as same-store sales grew 1.5 percent across the dining landscape—the best month since September 2015 based on sales growth.
It has been a nice run for casual dining lately. Credit off-premise. Tax reform. Better marketing. Perhaps even a more spender-friendly economy. Chuy’s president and chief executive officer Steve Hislop has an additional take.
Dine Brands hasn’t shied from sharing its long-term plans to fix what ails Applebee’s and IHOP. These broad customer-facing and executive changes, the company hopes, will allow the nation’s largest casual-dining chain to return to growth by the end of 2019.
Del Frisco’s first-quarter earnings came with a blockbuster announcement for the restaurant company. The parent company of Del Frisco’s Double Eagle Steakhouse, Del Frisco’s Grille, and Sullivan’s Steakhouse entered into a definitive agreement to acquire Barteca Restaurant Group for $325 million in cash.
We’ve seen the headlines:“Applebee’s Deserves to Die”— Eater.“Millennials are Killing Chains like Buffalo Wild Wings and Applebee’s.” — Business Insider.Dine Brands CEO Stephen Joyce’s response: Fake news.
Denny’s took a stock market hit Wednesday (May 2) following a first quarter that came up short in same-store sales, although the performance was split significantly between its company and franchised units.
Brinker International spent the first quarter strategizing its turnaround story. The second was about implementation. Now, it’s time for results.The parent company of Chili’s and Maggiano’s Little Italy said during a May 1 conference call that it “started to see momentum with significant changes in traffic” during the third quarter, a period that ended March 28.
Kent Taylor didn’t need a lot of superlatives to explain Texas Roadhouse’s red-hot April. “When I opened my Christmas presents at Christmas, and I got something I’m not sure I expected, I was [just] happy to see it.
With middle-income consumers back to spending at rates expected during an economic recovery and BJ’s Restaurants 2018 initiatives off to a good start, the company’s first-quarter earnings were favorable.