Darden Restaurants today announced decreased comp sales for its largest brands and its intention to at least spin off, if not sell, the $2.6 billion Red Lobster concept. The decision reflects the challenging sales environment affecting all restaurant categories. But in particular it results from Red Lobster’s inability to attract and retain higher-income and younger [...]
The burger category continually remakes itself. New concepts are created. One-offs morph into multi-unit endeavors. Small chains spread out and away from their home markets. New names become familiar brands. Below are 14 concepts that are on the move. These are concepts that might not be well known yet—just as BurgerFi, Burger 21, Big Smoke, [...]
Luby’s Inc. concedes that—initially, at least—its absorption of the Cheeseburger in Paradise brand it acquired in December is being more difficult than expected. Speaking to analysts today about results for its fiscal third quarter, ended May 8, 2013, President-CEO Christopher Pappas addressed a 13% decline in Cheeseburger in Paradise (CiP) sales compared with the year-earlier [...]
Burger King’s sales momentum faltered in Q1 as the introductions of its new Seattle’s Best coffee platform and Bacon Gouda Breakfast Sandwiches plus items such as the Avocado Whopper failed to translate into positive sales growth. For the quarter, Burger King same-store sales declined 3%, with global comp sales down 1.4%.
Former CFO and [...]
Whataburger is venturing into retail sales for the first time, announcing that its signature condiments—Fancy Ketchup, Spicy Ketchup and Original Mustard—will be sold exclusively at H-E-B stores in Texas and Mexico this summer.
The San Antonio-based chain’s Original Mustard, which dates to its founding in 1950, will be sold in 16-oz. containers with a label [...]