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| KFC U.S. is launching the Chizza, a pizza-inspired dish, nationwide on Feb. 26. It features two fried chicken filets topped with marinara sauce, melted mozzarella cheese and crispy pepperoni. Previously available in other countries, it’s the first time Chizza will be on U.S. menus. Customers can order it solo or as a combo meal with fries and a drink. Additionally, KFC is reintroducing its Blackberry Lemonade nationwide, noting that it pairs well with the Chizza combo. |
| KFC Australia has unveiled the Kentucky Snack Pack, a beloved secret menu item featuring popcorn chicken, chips and supercharged sauce, accessible only through the KFC mobile app. Priced at $6.95, it’s making a return after being a hit in early 2023. To find it, users must download the KFC Order On the Go app and perform a special action to reveal the secret menu. |
| Yum! has a long history of do-gooding |
At Yum!, we have a Recipe for Good Growth, which centers on doing right by our people, food and the planet. It's something that we've continuously improved upon year after year and is the focus of our latest "Quick Bite," a video series that documents Yum! news in about a minute's time. Watch and learn how the world's largest restaurant company is committed to doing good.
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| McDonald’s is introducing WcDonald’s, inspired by Japanese anime, with new sauce and packaging launching globally on Feb. 26. A Los Angeles dining experience on March 9-10 will immerse guests in the anime universe. |
| In 2023, Domino’s, having initially avoided third-party delivery, partnered with Uber Eats and Postmates to tap into new markets. This shift reflected the brand’s desire to explore order aggregation, backed by extensive digital sales. While initial results were modest, the partnership aimed to capture a significant share of the delivery market and foster customer loyalty. |
| Chipotle is offering free guac on February 29, “Extra Day,” for fans who use code EXTRA24 on the Chipotle app or website. Starting February 26, a scavenger hunt on Chipotle’s Instagram account will reward 29 fans with free guac for a year. |
| Dunkin’ is introducing “SPARKD Energy” iced drinks in berry burst and peach flavors, capitalizing on the trend of heavily caffeinated beverages. Despite the popularity of such drinks, Dunkin’ faces the challenge of avoiding legal issues like Panera Bread, which is embroiled in lawsuits over its Charged Lemonade. Dunkin’s energy drink contains 192 mg of caffeine for a large cup, less than Panera’s 234 mg. |
| Wingstop reported strong earnings with a 21.2% increase in same-store sales and 27% growth in system sales, driven by rapid store expansion and strong margins. Despite these achievements, investors showed concern over slower net income growth in the fourth quarter, leading to a 4% decline in the company’s stock. Wingstop’s success in 2023 was attributed to factors like the introduction of chicken sandwiches, which broadened its customer base and reduced reliance on seasonal wing demand. |
| The Quick Service Restaurant segment is projected to expand its franchised units by 2.2% in 2024, reaching 199,808 units compared to 195,507 in 2023. This translates to 4,301 franchised restaurant openings this year. QSRs rank as the second fastest-growing industry in franchising after personal services. However, franchisees face challenges from rising costs of inventory, supplies and materials, with 65% reporting substantial impacts from inflation. Labor costs and shortages, along with increased real estate expenses, further complicate expansion plans. Despite these hurdles, the QSR franchise industry output is expected to grow by 4.7% to $301 billion in 2024. |
| Beyond Meat is launching a healthier version of its plant-based burger in spring, aiming to win back consumers amid declining sales. Retail data shows a 33.6% drop in meat alternative sales. Beyond’s Q3 sales plummeted 29% over two years, with its market value down to $463 million from $14.14 billion. The reformulated burger, dubbed “Beyond IV,” boasts 60% less saturated fat and 20% less sodium, featuring avocado oil, red lentil and faba bean protein. |
| In 2023, Denny’s closed 57 units, with a net unit decrease of 29 restaurants. To be profitable, a Denny’s unit now requires $1.2 million in annual sales, up from $1 million. Despite average sales of the lowest quintile surpassing this target, Denny’s anticipates 10 to 20 net unit closures in 2024. The chain, which has shrunk by 9% since 2017, faces challenges with declining traffic and high costs, with many multi-unit operators at risk for bankruptcy. |
| Hard Rock International has partnered with Major Food Group to enhance food and beverage offerings at its hotels. Major Food Group, known for brands like Carbone and The Grill, will advise on dining options at existing and upcoming properties. While it’s unclear if existing concepts will be introduced, the collaboration follows Carbone’s residency at Seminole Hard Rock Hotel & Casino Hollywood. Jim Allen, Hard Rock International’s CEO, noted that he anticipates elevated dining experiences. |
| Mountain Mike’s Pizza, based in Newport Beach, California, has appointed Jim Metevier as its new CEO, promoting him from his previous role as president and chief operating officer. With over 30 years of experience in the restaurant industry, Metevier aims to lead the brand’s continued growth trajectory. During his tenure, same-store sales have surged by 32%, exceeding $1.1 million in systemwide average unit volumes (AUVs), with digital platforms contributing 43% to systemwide sales. Metevier emphasized strengthening franchisee support, community engagement and strategic expansion as key priorities. |
| Starbucks is facing accusations from baristas in Chicago and Philadelphia, alleging violations of Fair Workweek regulations aimed at protecting workers from abrupt schedule changes. These allegations follow previous complaints in New York City, resulting in a meeting with Mayor Eric Adams. The union Starbucks Workers United demands guaranteed weekly hours and a joint labor-management committee to review schedule changes. Starbucks plans a new scheduling system accommodating workers’ preferences amid criticisms of under-reporting expenses related to labor disputes. |
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