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| Yum China is leading the restaurant industry globally in ESG. The company has ranked number one in the world in ESG for the Restaurant and Leisure Facilities industry, achieving the highest score among industry peers in the S&P Global 2023 Corporate Sustainability Assessment. Yum China is committed to sustainable practices, evidenced by its senior-friendly KFC Super App, digital innovations and efforts to support a low-carbon and circular economy. |
| In a guest commentary, Kate Vacovec, CFO of Pizza Hut Europe & U.K, discussed the challenges faced by the restaurant industry in 2023 and the focus on accelerating profitable transaction growth in 2024. She emphasized the need for brands to reimagine value for customers by addressing challenges, embracing change and improving the consumer experience. Vacovec suggested that, in the aftermath of crises, a rebel culture is emerging, and brands should focus on ease, quality and experience instead of price wars or discounting. |
| This month’s episode of Taco Bell CEO Mark King’s Recipe for Restless Creativity podcast featured a conversation with Mark King, Sean Tresvant and Kelly McCulloch. Tresvant, who will replace King as CEO, and McCulloch, Taco Bell’s Global Chief People and Transformation Officer who will be replacing King as the podcast host, said goodbye to Mark King and discussed what may come in 2024. |
| Chef Jason Triail has joined The Habit Burger as the Director of Culinary Innovation, bringing a rich culinary background and a passion for California flavors. Triail, previously associated with Yard House and Chef’d, is set to redefine and elevate The Habit’s culinary experience. The chain aims to preserve its core menu while introducing new elements under Triail’s guidance. Triail emphasized creating a sensory journey from kitchen to table, delivering a variety of choices that stand out in the better burger landscape. |
| A new year, a new #3Questions |
With the arrival of the new year comes a #3Questions that's as hot and fresh as a Pizza Hut Melt! Ashley Hull, the brand's associate manager of supply chain, dishes out the secret ingredients to her inspiration and enthusiasm for growth. Plus, Yum! CEO David Gibbs reveals what he is most looking forward to from Yum! and the brands in 2024 (will Digital & Tech please stand up?). |  | (For Yum! Eyes Only) |
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| Starting January 24, McDonald’s is reintroducing the Double Big Mac in the U.S. for a limited time. The burger, previously introduced in March 2020 but pulled due to the pandemic, features four beef patties, additional sauce, pickles, shredded lettuce, chopped onions and American cheese between a sesame seed bun. McDonald’s is focusing on its core menu, including the Big Mac, and CEO Chris Kempczinski hinted at a “larger burger.” |
| Jack in the Box, owner of Del Taco, considers 2023 a pivotal year for brand refresh and increased franchising. CEO Darin Harris highlighted the first net new unit growth in nearly five years, with plans for continued growth. The company refranchised 111 Del Taco units in fiscal year 2023, aiming to increase franchise ownership to 90%. CFO Brian Scott outlined $30 million for new company restaurants, $15 million for remodeling, $35 million for digital investments and $20 million for maintenance. |
| Jack in the Box’s new Smashed Jack burger, introduced as a “soft open” on January 1, has exceeded sales forecasts and is expected to sell out next week. CEO Darin Harris noted the positive feedback from customers and revealed plans to build inventory and relaunch the product in March. The success of the burger is crucial for the brand, as it aims to drive sales growth and attract new units. |
| Chick-fil-A has announced the 51 nonprofit grant recipients for its 2024 True Inspiration Awards program, marking the 10th anniversary of the initiative. This year, the program distributed a record $5.48 million in grants, ranging from $30,000 to $350,000, to support organizations making positive impacts in their local communities. Chick-fil-A has awarded over $27.8 million through the True Inspiration Awards since 2015, benefiting more than 500,000 people annually. |
| Shake Shack is launching a 2024 menu with a limited-time offering of “swicy” (sweet/spicy) and umami flavors. Available nationwide from January 12, the new items include a Gochujang-glazed chicken sandwich with white kimchi slaw, a Korean BBQ Burger with savory and salty Korean BBQ sauce on an Angus beef patty, Spicy Korean BBQ Fries, and Spicy Korean BBQ Cheese Fries. |
| Severe winter weather has disrupted meat production in the United States, leading two major beef packers to halt operations at plants in Kansas. Cargill’s facility in Dodge City experienced a partial power outage, leaving 50 workers stranded temporarily, while Tyson Foods also reported an impact on its plant in the state. The weather-related closures can potentially lead to a surge in protein prices if supplies dwindle, while farmers may face lower prices for their livestock as demand is disrupted. |
| BurgerFi reported a 9% decline in same-store sales for the fourth quarter of 2023, citing headwinds and cannibalization in Florida as contributing factors. However, CEO Carl Bachmann is optimistic about the brand’s turnaround efforts, with a five-point plan focused on driving growth. The plan includes menu enhancements, infrastructure strengthening, real estate portfolio adjustments, creation of operational standards and marketing initiatives. |
| Denny’s has partnered with Franklin Junction to open 250 virtual restaurants. Franklin Junction will offer “geographic exclusivity” to expedite Denny’s expansion in the market through its host kitchen platform. Denny’s will use its extensive restaurant footprint to host new virtual concepts. The move follows a 20-unit test by a Denny’s franchisee who experimented with various virtual brands. |
| Slim Chickens is on track to open more than 70 locations in 2024 after a successful 2023, during which it opened 53 units. The brand signed over 400 development deals in two years and experienced 70% growth in the last three years, with 1,200 stores in the pipeline. The chain has entered 10 new territories, including Istanbul’s airport in Turkey, Nevada, Wisconsin and the University of Arkansas Fort Smith. |
| Potbelly reported approximately 6% same-store sales growth in Q4 2023, driven largely by increased traffic. The chain attributes its recent momentum to the execution of a five-pillar strategy implemented in July 2020. Operations initiatives, including labor deployment and low turnover rates, have been key drivers of success. Potbelly’s investment in marketing, particularly in digital channels and its Perks loyalty program, has paid off, with digital sales accounting for nearly 40% of the mix. |
| The U.S. Department of Labor has announced a final rule revising its interpretation of the Fair Labor Standards Act’s classification provision to determine whether a worker may be considered an independent contractor. The rule retains the multifactor, “totality-of-the-circumstances” framework for analyzing independent contractors’ status. It considers six nonexhaustive factors when examining the relationship between a worker and a potential employer, such as the worker’s opportunity for profit or loss, investments made by the worker and the employer and the nature and degree of control over performance of the work. |
| The union, Workers United (WU), that organized employees of a Philadelphia coffee-shop chain in 2022 is ending its representation of a store after a majority of the staff asked for a chance to vote out the labor group. Employees of Ultimo Coffee filed a petition requesting the National Labor Relations Board (NLRB) permit a re-vote on organizing, leading WU to file paperwork to end its involvement. The move marks a setback for WU, which is also behind the organization of 375 Starbucks units and other smaller coffee chains. |
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