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| On CNBC’s Squawk Box, co-host Joe Kernen was delighted by a surprise delivery of Taco Party Packs from Taco Bell, which he and co-host Becky Quick enjoyed on camera. The delivery was a nod to Taco Bell’s recent liberation of the “Taco Tuesday” trademark and Super Tuesday, the presidential primary election day in the U.S. Previously, Kernan had quipped that if he were to run for the U.S. presidency, he would run on a platform of making Taco Tuesday a national holiday. |
| KFC U.K. and Ireland has appointed Ella Smith as Chief Legal Officer, elevating her from Head of Legal. Smith will join the executive team and report to General Manager Meghan Farren. Her new role involves overseeing legal matters, notably the acquisition of 218 restaurants from EG Group, KFC’s largest franchisee in the region. Smith noted that she looks forward to the challenges and opportunities ahead, emphasizing collaboration with her legal team. |
| In late February, KFC announced a renewed partnership with the NBA, offering two themed burgers and prizes. Until March 11, the “Super Ball” burger features a mixed wagyu/Angus patty, grilled pineapple and a basketball-textured top bun, while a truffle sauce chips burger launches later. Early customers receive basketball cards for a prize draw, offering chances to win NBA Finals tickets, Wilson basketballs, VIP season passes for Tencent Sports or NBA phone wallpapers. |
| 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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| Panera Bread recently unveiled its “biggest menu transformation” yet, adding nine new items while revamping recipes and portion sizes across 20 menu updates. This shift marks a return to the brand’s roots in the salad and sandwich categories, according to COO Debbie Roberts. However, this transformation also includes removing items, notably flatbreads introduced in 2019. A leaked list from the Panera Reddit community suggests a 19% menu reduction, including the elimination of various items like flatbread pizzas, turkey chili and bakery items. |
| Holly Rivera, a Chick-fil-A owner/operator in Lake Nona, Orlando, shared her journey from studying hospitality management to becoming one of the youngest operators in the company’s history. Initially considering roles at Disney and Marriott, she found an opportunity at Chick-fil-A, mentored by Charlie Fish. Rivera immersed herself in learning all aspects of restaurant management, leading to corporate roles and eventually franchise ownership. Despite challenges, including the complexities of operating a mall unit and the COVID-19 pandemic, Rivera thrives on the unpredictability of the industry. |
| To celebrate the Oscars on March 10, Shake Shack is introducing a nationwide deal tied to the awards show’s duration. If the show exceeds or falls under 3 hours and 31 minutes, guests receive a free Chicken Shack or SmokeShack burger. From March 11-18, customers spending $10 can get a free sandwich using the code BIGWINS. In LA, Shake Shack is offering a “glam experience” at the West Hollywood Shack, with free ShackBurgers for nominees. The show runtime prediction, developed with Known agency, factors recent trends and show components. |
| Burger King is celebrating National Pi Day (March 14) with a special offer for Royal Perks members: a free Hershey’s Sundae Pie with any $3.14+ purchase, while supplies last. From March 10-16, members can also receive daily breakfast deals: a free Croissan’wich, 5 pc. French Toast Sticks, Simply OJ, large Hash Browns, large Vanilla Iced Coffee and Sausage Biscuit with various purchase amounts. |
| Cicis Pizza has announced a spring break deal, offering 2 large 1-topping pizzas for $6.99 each from March 4 to April 28. Jeff Hetsel, President of Cicis, highlighted the offer as a convenient and affordable option for on-the-go meals during the busy spring break season. Available for pickup only, customers can order through cicis.com/deals, where the discount is automatically applied at checkout. |
| Inspire Brands CEO Paul Brown noted consumer resilience despite inflation pressures during an interview with CNBC’s Jim Cramer. The company observes around 75% of Americans dining at its restaurants yearly, reflecting broad appeal across income levels. Brown attributed strength to integrated brand capabilities, akin to the hotel industry’s model. Brown also noted that Sonic and Dunkin’ stood out, with Sonic’s order-ahead business thriving and Dunkin’ experiencing heightened demand for iced beverages following equipment upgrades. |
| Potbelly has expanded its franchise pipeline by adding 18 shops through four existing franchisees, part of its ongoing franchisee acceleration program initiated in 2022. This program has led to approximately 200 shops in development across various states. The chain aims to reach 2,000 units, with 85% franchised and currently operates around 425 locations, 17% of which are franchised. The franchisees, mostly new to the Potbelly system, plan to expand in Tampa, Orlando, St. Louis and Fayetteville. Potbelly has refranchised stores to facilitate growth but has no plans to do so this year due to strong franchisee interest. |
| First Watch Restaurant Group achieved a significant milestone, surpassing $1 billion in sales by the end of the fourth quarter of 2023, nearly doubling its sales since 2019. Despite a 1.3% decline in in-store restaurant traffic attributed to an expected decrease in off-premises sales, the company reported 5% same-store sales growth and a 7.5% increase in overall traffic for the year. CEO Chris Tomasso emphasized the company’s leadership in daytime dining and announced its expansion into two new markets: Las Vegas and New England. Additionally, First Watch completed the rollout of tableside payment technology, contributing to improved efficiency and customer experience. |
| BJ’s Restaurants is enhancing its board with the appointment of Brad Richmond, former CFO of Darden Restaurants, as part of an agreement with activist investor Fund 1 Investments. Richmond’s addition expands BJ’s board to 12 members, aiming to bolster its expertise. Additionally, a new committee, the Shareholder Value Initiatives Committee, will be formed to address strategies for maximizing shareholder returns. |
| Sweetgreen, led by CEO Jonathan Neman, concluded 2023 with optimism for achieving profitability in the upcoming year. The introduction of the Infinite Kitchen has shown promising results in reducing labor costs and improving operational efficiency, despite not yet reaching its full potential. Sweetgreen noted that it plans to expand the use of this technology to additional locations and retrofit existing stores. Alongside this, the company is implementing traditional store improvements and focusing on marketing efforts and menu innovation to drive revenue growth. |
| The union collaborative advocating for three seats on Starbucks’ board of directors has decided to withdraw its nominations, following a truce struck last week between Starbucks and the labor group aiming to organize its employees. This gesture signals trust in Starbucks to negotiate sincerely with Workers United, representing staff from 386 Starbucks locations, potentially facilitating new labor contracts for 9,500 unit-level employees. The withdrawal of nominations aligns with recommendations from prominent shareholder advisory groups. Starbucks has committed to finalizing labor agreements for Workers United members by the end of 2024, aiming to resolve a longstanding legal dispute. |
| Denver City Council members Serena Gonzalez-Gutierrez and Chris Hinds have proposed a bill requiring restaurants to offer water or milk exclusively in bundled children’s meals, aiming to provide healthier options. The measure prohibits drinks with added sweeteners but allows milk substitutes and sparkling water. Despite not banning sugary drinks outright, it impacts fast-food chains and local eateries alike. While the Colorado Restaurant Association isn’t fully on board, they’re considering it. Hinds views it as “nudge legislation” akin to previous laws promoting environmentally friendly practices. |
| Forbes highlighted how the fast-food industry is embracing AI to enhance customer experience and operational efficiency. Current uses include automated order systems, personalized drive-thru experiences and AI-powered customer relationship management. McDonald’s and Domino’s are utilizing AI for personalized menus and quality assurance. Future innovations may involve robotics for food preparation, personalized healthier meal options and advanced voice technology for seamless customer interactions. |
| Nation’s Restaurant News reported that the restaurant industry is grappling with a mental health crisis among its employees, exacerbated by the challenges of the COVID-19 pandemic. In response, companies are increasingly prioritizing mental health support, offering benefits like free therapy sessions, meditation apps and access to mental health resources. This shift is driven by both the generational demand for mental health support, particularly among millennials and Gen Z, and the recognition that addressing mental health is crucial for employee well-being and retention. |
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