| Yum! Brands News | |
| | Yum!Now News | |
| | Competitor Intelligence | |
| | Industry Trends | |
| | Policy & Regulatory News | |
| | Restaurant Technology | |
| | | |
In an interview with The Wall Street Journal, Yum! Brands Chief Digital & Technology Officer Joe Park talked about how Yum! and its brands are investing in technology and automation solutions to drive growth and elevate the team member and customer experience. He also discussed how Yum! is focused on harnessing the power of customer data for the benefit of all four brands.
|
| Fortune reporters spoke with several female CEOs from the Asia-Pacific region at the Fortune Innovation Forum in Hong Kong, including Joey Wat, the CEO of Yum China. Yum China’s most impactful benefit, Wat said, has been allowing employees to add their parents to their health insurance plans. “A lot of women are responsible not only for their children but for their parents. It’s very challenging,” Wat explained. |
| KFC Canada has introduced new seasoned onion rings, available as a sandwich, wrap or side. The Crispy Onion Ring Sandwich features a deep-fried chicken filet, seasoned onion rings, pickles, KFC Sauce and mayo on a potato bun. The Crispy Onion Ring Twister includes tenders, onion rings, KFC sauce and mayo in a flour tortilla. Customers can order onion rings as a side in individual or large sizes. |
| The KFC Foundation, based in Louisville, Kentucky, has awarded a $10,000 grant to LifeScape for its Pathways to Life School. This program aids 18 to 21-year-olds with disabilities in career readiness. The grant funds workforce readiness curriculum, including Project Discovery, praised for its accessibility and ease of use by Special Education Director Dr. Tammi Waltjer-Haverly. |
| Pizza Hut is aggressively expanding in India, targeting a youthful demographic and emphasizing value offerings. Managing Director Merrill Pereyra highlighted the chain’s significant growth in the past two years, with over 850 restaurants nationwide, including 300 Fast Casual Delco outlets tailored for on-the-go consumers. These outlets integrate dine-in, delivery and takeaway services, leveraging technology like BYOD ordering. Pereyra emphasized the importance of menu expansion to suit diverse tastes and busy lifestyles. |
| Pizza Hut Sri Lanka offers a slice of hope to marginalized youth |
Did you know that unemployment for Sri Lankan youth hit a staggering 26% last year? That's why Pizza Hut Sri Lanka and the Unlocking Opportunity Initiative, Yum!’s investment of $100 million to create more equality in the areas of equity & inclusion, education and entrepreneurship, have joined forces with the Sevalanka Foundation to introduce the Youth Enablement Program. This initiative is specifically tailored to empower them with the essential skills needed to thrive in a job in the quick-service restaurant industry. Read more about how opportunity for meaningful employment is being unlocking, paving a brighter future for Sri Lanka's youth. |  | (For Yum! Eyes Only) |
|
 |
| McDonald’s has seen significant price increases, particularly in its value menu items like the Cheeseburger, which has risen by 55% since 2021. While the Big Mac’s price increased by 16.4% on average, it remains relatively stable. The $1 $2 $3 Dollar Menu, once a haven for affordable options, now reflects higher prices, with items like the McChicken and McDouble priced up to $3.55. Rising costs, including labor and food, have prompted franchisees to adjust prices. This shift has drawn criticism on social media, with concerns about affordability and the loss of lower-income customers. |
| Shake Shack is offering the Afternoon Free Shake deal across the U.S., running until June 26, 2024. From 2 PM to 5 PM daily, customers placing a digital order of $10 or more can receive a free shake, valued up to $7.29. The deal encompasses various shake flavors like Coffee & Donuts, Maple Snickerdoodle and more. Orders must be placed through the Shake Shack mobile app or website using the code “FAVESHAKE” and are limited to in-restaurant ordering via kiosk or takeout. |
| Krispy Kreme has special deals for Easter and April Fools’ Day. Until Easter Sunday, buy any dozen or 16 doughnuts and get a free original glazed dozen. On April 1st, April Fools’ Day, purchase a dozen doughnuts and get a dozen original glazed for $4.01. Additionally, Krispy Kreme offers its limited-time Spring Minis Collection featuring four new miniature doughnut flavors. |
| Jimmy John’s has introduced the Lemon Berry Cobbler Cookie, a limited-time dessert available at participating locations nationwide. Priced at $3.39 in the Los Angeles area, the cookie features lemon flavor and dried blueberry pieces, expanding the cookie lineup alongside Red Velvet, Chocolate Chip and Oatmeal Raisin cookies. |
| Tim Hortons has introduced Dream Cookies, collaborating with popular candy brands for an elevated cookie experience. The lineup includes Dream Cookies with Reese’s Minis and Pecans, featuring peanut butter cookies stuffed with pecans and topped with Reese’s Minis. Another option is Dream Cookies with M&M’s Minis Milk Chocolate Candies, sugar cookies packed with white chocolate chips and colorful M&M’s. Additionally, Rocky Road Dream Cookies with Pecans offer chocolate cookies filled with pecans, marshmallows and chocolate. |
| Consumer spending at restaurants increased by 5% in 2023, surpassing the 4% growth seen in 2022, according to data from Circana. Despite an 8% decline in traffic compared to pre-pandemic levels, industry sales exceeded 2019 figures by 12%. Circana forecasts a 1% growth in traffic for the current year. The top 50 restaurant chains, accounting for 61% of total consumer spending, saw a 7% increase in aggregate spending, reaching $313 billion. McDonald’s, Starbucks and Chick-fil-A led with over $100 billion in consumer spend. Fast casual chains outperformed the industry, with spending up by 9% in 2023. |
| Bob Evans Restaurants is reportedly up for sale. Acquired by private equity firm Golden Gate Capital in 2017 for $565 million, the casual chain operates around 450 restaurants across 18 states. Although the chain was previously considered for sale in 2022 at a valuation of approximately $600 million, no deal materialized, potentially due to subdued investor activity. Despite this, Bob Evans saw a 7.3% increase in U.S. systemwide sales to about $801 million in 2022, with average unit volumes rising by 8% compared to 2019. |
| Dave’s Hot Chicken is celebrating the opening of its 200th restaurant in the Dallas area, Richardson. Owned and operated by local resident David Futrell and his partners, it marks Futrell’s third Dave’s Hot Chicken venture. The chain, specializing in Nashville-style hot chicken sliders and tenders, experienced rapid growth, becoming the country’s fastest-growing restaurant chain for two consecutive years. CEO Bill Phelps attributes the success to a focus on crafting the most craveable hot chicken. |
| Tony and Roushan Christofellis, co-founders of Salad and Go, are expanding their concepts with Angie’s Prime Grill and Angie’s Lobster in Arizona, opening a new Prime Grill location in Phoenix. Under their company, Angie’s Food Concepts, they aim to make luxury foods affordable, offering entrees like steak, chicken, shrimp and lobster starting at $9.99. The Prime Grill features a proprietary drive-thru system, emphasizing affordability and quality. Partnering with Ideation Design Group, they’re rolling out units with drive-thru, walk-up service and seating. |
| BurgerFi, under BurgerFi International, Inc., is introducing the HEINZ REMIX Machine at its Lauderdale-By-The-Sea, FL location. This innovative digital sauce dispenser allows patrons to customize over 200 sauce combinations, combining bases like HEINZ Ketchup and Mayo with enhancers like Jalapeño and Mango. BurgerFi aims to provide unique dining experiences, offering guests the opportunity to create their own condiment concoctions. The brand plans to launch four more HEINZ REMIX Machines at various locations, further enhancing menu offerings. |
| California’s new method for setting fast-food wages involves collaboration between employers and employees, yet tensions between the two sides remained evident before the process began. The Fast Food Council, tasked with determining minimum wages, saw discord among its members, with accusations of greed and exploitation. The Service Employees International Union (SEIU) pushed for a 25% wage hike, portraying fast-food chains as profit-driven. Criticism from business representatives suggests skepticism towards the legislative change. Meanwhile, public opinion remains divided, with concerns raised about the law’s constitutionality and broader economic impact. |
| California regulators have fined I Heart Mac and Cheese and mandated monitoring for three years due to franchise disclosure violations. The fast-casual franchise faces a $43,000 fine and must employ an independent monitor to ensure compliance. Violations include failure to disclose litigation and selling franchises after document expiration. Indiana previously prohibited IHMC from selling franchises. |
| Restaurant Business highlighted how restaurants are navigating a tech-rich landscape and must choose wisely due to budget constraints. Gen Z, aged 18 to 27, is a key focus due to its size and tech expectations. While they generally favor tech, they’re slightly less enthusiastic than millennials. They prioritize easier ordering and payment, favoring mobile apps, kiosks and QR codes. Gen Zers also seek online ordering for sit-down restaurants and are open to dynamic pricing. Additionally, they’re willing to pay for specific tables but desire efficiency. |
|
|
