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| As a part of its Alumni Spotlight, Seattle University interviewed Sean Tresvant, 1998 MBA, who transitioned from aspiring ESPN sportscaster to the first Black CEO of Taco Bell. Reflecting on his journey, Tresvant emphasized the importance of seizing opportunities and staying authentic. He credited his MBA from Seattle University for unlocking his potential and guiding his success. Tresvant noted that his Taco Bell order is two Crunchy Taco Supremes, a bean burrito and a Baja Blast. “Every time,” he said. “A little boring, but that’s my go-to.” |
| China’s economic recovery has prompted price-conscious consumers to favor budget-friendly options, benefiting firms like Yum China Holdings Inc. and Fast Retailing Co., while pressuring premium brands like Starbucks and L’Oreal. Shares of Yum China soared most since 2022 earlier this month after fourth-quarter sales beat estimates, reflecting the chain operator’s successful roll-out of new deals to lure cautious Chinese diners. Earnings showed that same-store sales grew at KFC and Pizza Hut, while traffic surged by the mid-teens from a year ago. |
| Taco Bell U.S. is testing a Tajin-themed menu in one Orange County, Calif., location. The collaboration with Tajin introduces the iconic Mexican seasoning into Taco Bell’s offerings. The limited-time menu includes the Tajin Crunchy Taco, Tajin Twists and Tajin Strawberry Freeze. Each item comes with a side of Tajin seasoning for customization. The test menu is available until March 6 at the Irvine location. |
| As consumers face rising costs, many are opting for quick-service restaurants over casual dining, prompting brands to enhance their value propositions. Taco Bell, Dunkin’ and others are ramping up value menus and promotions. Creativity combined with value-driven campaigns, like Taco Bell’s Nacho Fries Lover’s Pass, has proven to boost engagement. By prioritizing customer insights and innovative tactics, brands are projected to build lasting connections and navigate challenges in 2024’s dining industry. |
| Taco 'bout a tasty career for this executive! |
| Ready to embark on a delicious journey? You'll find one in the latest edition of "How I Got Here," featuring Taco Bell President of North America & International Scott Mezvinsky. From flipping burgers at McDonald's as a teen to now leading Taco Bell's global growth strategy, Scott is a foodservice veteran who knows a thing or two about the power of embracing challenges and fostering continuous growth. Don't miss out on the chance to learn from one of the industry's finest! |
| McDonald’s is delving into anime with its “WcDonald’s” campaign, creating a universe of characters alongside Studio Pierrot. In an interview, artist Acky Bright discussed his approach to crafting diverse characters for a global audience. He noted that we’re nearing a golden age for anime, especially with initiatives like McDonald’s introducing the medium to new audiences. Bright hopes the campaign brings joy to fans, emphasizing the simple pleasure of enjoying good food and engaging entertainment. |
| Starbucks has announced plans to engage in discussions with the Workers United union regarding bargaining agreements and union organizing. The company aims to establish a framework for collective bargaining agreements, fair organizing processes and the resolution of ongoing litigation. As a gesture of goodwill, Starbucks will extend partner benefits announced in May 2022, including credit card tipping, to workers represented by Workers United. |
| Domino's Pizza highlighted its track record of converting internal employees into franchisees, with 60 new franchisees added in 2023, all from within the system. The franchisee profitability also increased, with each store generating $162,000 in profit in 2023, up $23,000 from the previous year. Despite challenges like rising costs, Domino's noted that it is focused on improving operations and enhancing its loyalty program, driving higher traffic and profitability. |
| Quiznos is introducing two new variations of its Philly sandwich: the Queso Philly and Mushroom Philly. The Queso Philly features extra black Angus steak, queso blanco, sauteed peppers and onions and banana peppers on artisan bread, while the Mushroom Philly offers the same toppings with sautéed mushrooms instead of steak. The Queso Philly subs are available for a limited time at participating locations in the U.S. and Canada. Prices start around $12 in the U.S. and $13 in Canada. |
| The restaurant industry is on the verge of surpassing $1 trillion in sales for the first time, with 200,000 new jobs expected to boost total employment to 15.7 million. Despite inflation and rising costs, innovative strategies are enhancing consumer satisfaction. Michelle Korsmo, CEO of the National Restaurant Association, praised operators’ adaptability and response to challenges like food costs and supply chain disruption. Korsmo noted that technology has played a crucial role in cost reduction and efficiency, but that maintaining a human touch is essential for customer appeal. |
| Shares of Beyond Meat surged in after-hours trading following the company’s promise to implement cost-cutting measures and transition to a leaner operating structure. CEO Ethan Brown outlined initiatives to reduce operating expenses by at least $70 million in 2024, including discontinuing the Beyond Meat jerky line. The company plans to focus on products with higher growth potential and conduct pricing changes after conducting an extensive analysis. The company reported a 7.8% decrease in year-over-year net revenues but beat Wall Street’s expectations for the quarter. |
| Brinker International Inc., parent company of Chili’s Grill & Bar, announced Mika Ware as the new Chief Financial Officer, succeeding retiring CFO Joe Taylor, effective June 27. Ware, with Chili’s since 1988, will transition from her current role as Vice President of Finance. Taylor will continue in a senior advisory capacity until August 2024. Brinker CEO Kevin Hochman expressed confidence in Ware and Caldwell, citing their track records and alignment with the company’s growth strategy. |
| Cracker Barrel Old Country Store Inc. faces ongoing challenges under new CEO Julie Felss Masino, reporting a 4% decline in traffic and modest same-store restaurant sales growth of 1.2% in the second quarter. Masino outlined three key initiatives for brand recovery: driving brand relevance, enhancing food and experience and improving profitability. The company is modernizing its messaging, refreshing stores and menus and testing new menu items like Golden Carolina BBQ Chicken Tenders. |
| Under CEO Joe Guith’s leadership, Church’s Texas Chicken is repositioning itself by emphasizing its core identity and focusing on convenience channels. The brand is introducing a new prototype with enhanced efficiency and multiple points of ordering. Despite challenges, Church’s has experienced international expansion and achieved growth in domestic average-unit volumes. The company aims to return to positive restaurant growth and increase system sales by leveraging its brand equity and value proposition. |
| Boston Market is appealing a $15 million default judgment awarded to US Foods in a lawsuit over unpaid bills. The rotisserie chicken chain alleged that US Foods overcharged for supplies and failed to maintain sufficient product inventory. The legal battle is part of an ongoing saga involving Boston Market and its owner, Jay Pandya, who has faced multiple lawsuits and personal bankruptcy filings. Despite the legal challenges, Boston Market announced plans to allow the use of its brand for food service without buy-in requirements and to introduce international food options. |
| Golden Corral is providing two years of complimentary credit-data monitoring to employees affected by a computer hack last summer, potentially impacting 183,272 individuals. The breach, lasting four days, exposed personal information like names and Social Security numbers. Despite this, customer data remained unaffected. The company promptly launched an investigation upon discovering the breach and collaborated with federal authorities. Employees received notification of the breach and were offered support through credit monitoring and security enhancement guidance. |
| On March 1st, National Barista Day honors the individuals behind the espresso machines and coffee beans, particularly at The Human Bean drive-thru locations across the nation. Recognizing their leadership, expertise and positivity, franchise partners nominated exceptional baristas for their outstanding contributions. Among the finalists are baristas from Colorado, Texas, California, Oregon and Maryland, each receiving a custom “Top Bean” T-shirt as a token of appreciation. |
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