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| In an interview with CNBC, Yum China CEO Joey Wat highlighted Chinese consumers’ increasing rationality amidst economic concerns. While some diners in China have been cutting back, others are upgrading their spending, shifting from instant coffee to KFC’s sparkling coffee, for example. “There’s a consumption upgrade happening in the long term and in a subtle way,” Wat said. Yum China’s revenue rose 19% in Q4, driven by new store openings and a 4% increase in same-store sales. While top-tier city housing costs squeeze disposable income, lower-tier cities show stronger sales growth. With over 14,600 restaurants, the company aims to exceed 20,000 by 2026, focusing on lower-tier cities. |
| Major restaurant chains like Yum! Brands, Restaurant Brands International (RBI), Chipotle and Wendy’s are experiencing significant growth in digital sales, representing over one-third of total sales. Investments in digital ordering enhancements, such as kiosks and mobile ordering platforms, have fueled this trend. Yum! Brands reported nearly $30 billion in digital sales, constituting 45% of total sales, with Taco Bell achieving a record 31% digital sales mix, primarily through kiosk sales. “Even though we’re at $30 billion of [digital] sales and growing fast, we’re still in the early innings of what this can do to the business and the way it can transform us,” Yum! Brands CEO David Gibbs said. |
| Taco Bell U.S. is set to introduce a new menu featuring “Cantina Chicken,” a savory, oven-roasted chicken seasoned with Mexican spices like pasilla and other chilies. Alongside this new protein, the Cantina Chicken menu will include purple cabbage, pico de gallo, white corn taco shells and Avocado Verde Salsa packets. The menu will offer five items: Cantina Chicken Burrito, Soft Taco, Crispy Taco, Quesadilla and Bowl. |
| Technomic’s recent Top 10 LTOs for February highlighted a trend towards indulgent comfort foods, reflecting consumer cravings during colder weather. Taco Bell’s Loaded Beef Nachos, with decadent toppings like seasoned beef, refried beans, sour cream, nacho cheese sauce, red sauce and guacamole on tortilla chips, appeared on Technomic’s list, appealing to over 58% of survey respondents. |
| How the world’s largest restaurant company plans to reach gender parity |
The World Economic Forum forecasts that it will take 131 years to reach full gender parity – but Yum! Brands plans to reach it in the next few years.
The parent company of KFC, Pizza Hut, Taco Bell and The Habit Burger Grill made this bold goal in 2018 when it signed Paradigm for Parity’s pledge to reach gender parity in global senior leadership by 2030. In the past five years, it’s made significant progress moving from 33% in 2018 to 43% in 2022. With just 7% to go, the company is confident it will continue to make positive progress.
Read on to learn how Yum! is planning for parity. |
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| Proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis, have recommended Starbucks shareholders to vote for the company’s board candidates, providing a crucial win against a union-backed group advocating for its slate. ISS praised Starbucks’ responsiveness to shareholders despite recent challenges and sees no need for board change. Conversely, the Strategic Organizing Center (SOC), supported by major unions, criticized Starbucks’ mishandling of employee unionization efforts, advocating for new board members. The proxy vote centers on Starbucks’ response to unionization campaigns, with SOC arguing for better oversight. |
| McDonald’s has ventured into beauty with Nails.Inc, offering a colorful collaboration of press-on nails, polishes and stickers inspired by its iconic colors and menu items. Available on Amazon, the collection includes designs featuring fries and burgers. Prices start at $7. Selections include artificial nail sets, gold heart topper polish, nail polish and sticker duo, and mini polish duos, all packaged creatively resembling McDonald’s packaging. |
| Burger King has introduced the limited-time Fiery Big Fish sandwich, featuring a panko-breaded, crispy-fried Alaskan pollock filet coated in a triple pepper spicy glaze. Served with sweet tartar sauce, lettuce and pickles on a toasted potato bun, it’s priced at $3.99, the same as the regular Big Fish sandwich. |
| Carl’s Jr. has unveiled the Spicy Breakfast Burger and reintroduced the Spicy Western Bacon Burger for a limited time. The Spicy Breakfast Burger, a twist on the Breakfast Burger, features a charbroiled beef patty, pickled jalapenos, bacon, folded egg, pepper jack cheese, Hash Rounds and ketchup on a sesame seed bun. The Spicy Western Bacon Cheeseburger, a version of the Western Bacon Cheeseburger, includes pickled jalapenos, bacon, pepper jack cheese, onion rings and BBQ sauce on a sesame seed bun. |
| Tim Hortons, marking its 60th anniversary, has introduced spring-themed treats: Easter Egg Donut, filled with Venetian cream and adorned with colorful stripes; Easter Spring Donut, a yeast ring with floral design; and Berry Cherry Refresher, a non-caffeinated blend of black cherry, pomegranate, blueberry and strawberry. Additionally, the chain will bring back the Hazelnut Mocha beverage lineup, featuring Nutella and unveil the new Croissant filled with Nutella and Whipped Sweet Cream. |
| Sonic Drive-In is offering Crispy Tender Wraps now for $1.99 each. Customers can choose from the Hickory BBQ Crispy Tender Wrap, featuring all-white meat crispy tender with hickory BBQ sauce, shredded cheddar cheese and lettuce in a warm tortilla, or the Cheesy Baja Crispy Tender Wrap, with zesty cheese sauce, shredded cheddar cheese and lettuce. |
| Nation’s Restaurant News reported that the restaurant industry is shifting towards smaller unit prototypes, driven by the growing trend of off-premises dining. Operators are embracing smaller formats to reduce costs and optimize efficiency. Wienerschnitzel introduced indoor seating to accommodate customer preferences, while Portillo’s and Jack in the Box are rolling out smaller store designs with streamlined back-of-house operations. Smaller prototypes also enable operators to secure prime locations on smaller sites, facilitating conversions of existing restaurants and reducing construction costs. |
| Checkers and Rally’s, known for their double drive-thru burger and fries concept, recently opened a new location in Indianapolis, Indiana. The unit is co-owned by local entrepreneurs Fred Kaufman and Don Tharp. Kaufman, a seasoned fast-food industry entrepreneur, has a long history in the business, starting with Burger King franchisees in college. He now dedicates his time to Checkers and Rally’s, ensuring the success of his two Indianapolis stores. Checkers and Rally’s franchise model offers support and resources for owners, with plans for expansion in various markets across the United States. |
| Jane Grote Abell, the Executive Chairwoman and Chief Purpose Officer of Donatos Pizza, has joined Texas Roadhouse’s board of directors, expanding its membership to nine. Abell brings over 30 years of restaurant industry experience, having played key roles in the development and franchising of Donatos Pizza. The company also announced compensation adjustments for its executive team in alignment with management targets. With over 740 restaurants worldwide, Texas Roadhouse continues its growth trajectory with plans to open around 30 new restaurants across its three brands in 2024. |
| Ryan Black, CEO of Sambazon, aims to create the In-N-Out Burger equivalent for açai bowl concepts, leveraging the company’s dominance in the U.S. market. Sambazon, a leading supplier of açai, operates Sambazon Açai Bowls outlets and plans to franchise, despite competition from its own CPG line and foodservice clients. Black’s vision focuses on brand storytelling and consumer experience. Sambazon’s sustainable sourcing practices ensure transparency and environmental responsibility. |
| Sweetgreen noted it is optimistic about its automated Infinite Kitchen restaurants, with initial units showing improved metrics. Planning to open seven more Infinite Kitchen units this year, the company aims to enhance efficiency and food quality. Despite not reaching full capacity, benefits include reduced labor and turnover. CEO Jonathan Neman noted that he anticipates these innovations, along with increased advertising and culinary improvements, will drive profitability and restaurant margins to 20%. In fiscal 2023, Sweetgreen saw narrowed losses and revenue growth. |
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