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| In an interview, KFC’s Global CEO, Sabir Sami, highlighted the brand’s remarkable growth and adaptation. Partnerships with dedicated franchisees and a focus on employee growth have fueled its expansion, adding over 200,000 team members in five years. Sami says KFC should be in 150 countries by the end of this year. Of the 30,000 venues counted to start 2024, about 22 percent were built in the past three and a half years. Nivera Wallani, KFC Global’s chief development officer, noted that this stat illustrates the tailwinds in KFC’s global business. |
| Spoon University highlighted the ways that food scientists like A’ysha Callahan play a crucial role in crafting beloved items like KFC’s Chizza and Saucy Nuggets. Callahan’s journey from a STEM program to Alabama A&M University, where she studied food science, led her to her role as a food innovation technologist at KFC. Collaborating with the product development team, she’s contributed to national launches and consumer testing. “What keeps me inspired -- one, is the fact that I’m in a position where I can influence food trends and I can physically make everyone feel seen by basically creating a space for everyone’s palate to show up and to be satisfied,” she said. |
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| Shake Shack’s CFO Katie Forgerty highlighted the success of their kiosk ordering, now its largest and most profitable channel, boasting significantly higher check sizes due to enhanced upselling. Part of its Strategic Priorities 2024 plan, this initiative aims to improve operations, reduce wait times and increase margins. The digital marketing team’s efforts have streamlined the kiosk experience, offering intuitive upselling options akin to online ordering. Standardizing service and improving employee training have reduced wait times, with plans for further enhancements in kitchen flow and order accuracy. |
| Arby’s released a limited-edition sauce called “Chardonneigh’s Horsey Sauce,” paying homage to Beyoncé’s album cover art. The sauce, a twist on their classic Horsey sauce, is infused with Chardonnay flavor. Available for a limited time, it’s packaged in a frosted white glass bottle reminiscent of Beyoncé’s album cover. Alongside this, Arby’s introduced snack wraps and brought back the orange cream shake. |
| Wendy’s is undergoing a comprehensive evaluation of its burger business, planning to unveil its strategies later this year. CEO Kirk Tanner outlined three key focuses: driving same-restaurant sales growth, accelerating global unit expansion and enhancing restaurant-level profitability. Anticipating significant growth, particularly in the U.K. market, Wendy’s aims to expand its presence internationally. Despite economic challenges for lower-income, the company reported increased net income and systemwide same-store sales growth for Q1. |
| Throughout National Foster Care Month, Wendy’s, The Coca-Cola Company and Keurig Dr Pepper are collaborating to support foster care adoption. For every scan of QR codes on Wendy’s cold beverage cups in May, $5 will be donated to the Dave Thomas Foundation for Adoption, aiming to find permanent homes for children in foster care. On National Foster Care Day, May 7, Wendy’s offers reduced delivery fees and a free Coca-Cola or Dr Pepper with purchase. |
| Subway is offering a buy-one-get-one deal on footlong subs through their app or website until May 13, at participating locations. Customers can redeem the offer using the promo code “FLBOGO” and the free sub must be of equal or lesser price than the purchased one. The discount is limited to one per order. |
| The 2024 Restaurant TrendWatch report by Vericast revealed that rising dining costs are driving consumers towards value-conscious choices. With 60% opting for fast-food over casual dining for cheaper burgers, and 55% choosing frozen pizza or fast-food tacos over restaurant options. Dana Baggett, Vericast’s executive director, noted a decrease in dining out, particularly among households with incomes under $75,000. Restaurants face competition from grocery stores, with 68% of respondents turning to groceries to avoid dining expenses. |
| The U.S. chicken supply is facing an unusual challenge as a high number of eggs in incubators fail to hatch, threatening to limit meat production and raise prices. Pilgrim’s Pride Corp., a major chicken producer, attributed the issue to new rooster breeds requiring closer management, resulting in declining fertility rates. This problem obstructs efforts to meet the projected 1.5% growth in chicken production forecasted by the USDA. The industry’s reliance on poultry as a cheaper alternative to beef amplifies the impact, prompting companies like Pilgrim’s to seek solutions amid persistent fertility issues, a concern previously raised in 2021. |
| In the first quarter of 2024, FAT Brands saw a significant revenue surge of 43.8%, largely attributed to the acquisition of Smokey Bones. However, despite its expanding portfolio, the company reported a net loss of $38.3 million due to increased costs from previous brand acquisitions. FAT Brands aims to alleviate its debt burden through the anticipated Twin Peaks IPO and plans to refinance its debt. With a strategy focused on acquiring new brands and expanding existing ones, FAT Brands targets 125-150 net new store openings in 2024. |
| FAT Brands is set to debut Hurricane Grill & Wings at Six Flags Great Escape Lodge in Queensbury, New York, this summer. This expansion marks the brand’s first location in upstate New York and emphasizes FAT Brands’ growth strategy in non-traditional venues. Hurricane Grill & Wings joins sister brands Fatburger and Johnny Rockets at Six Flags properties, highlighting the ongoing partnership between FAT Brands and Six Flags. |
| Texas Roadhouse unveiled its theme “Buckle Up” at its recent managing partner conference, which aptly reflects its robust Q1 results. The company reported a 12.5% year-over-year increase in revenues, driven by an 8.4% rise in comp store sales. Despite industry challenges, Texas Roadhouse continues to thrive due to its focus on value, menu offerings and service. Technology initiatives, improved staffing and favorable beef costs also contributed to its success. |
| Craveworthy Brands has added Sigri Indian BBQ to its expanding portfolio of fast-casual concepts, aiming to introduce fresh and authentic Indian flavors across the U.S. Founded by Jagat Parikh in 2015, Sigri reimagines traditional clay stove cooking with a menu featuring fried butter chicken, kebabs, rolls, bowls and desserts. Partnered with acclaimed chef Aarthi, known for her innovative take on Indian cuisine, Sigri brings a unique dining experience. Craveworthy plans to leverage its resources to accelerate Sigri’s growth nationwide, providing operational support and marketing strategies. |
| InKind, a restaurant tech firm, has acquired the bankrupt Etta Collective group of restaurants for $4 million. Founded by David Pisor, Etta Collective includes high-end dining establishments such as Etta and Aya Bakery. With locations in Chicago and Scottsdale, the group filed for Chapter 11 bankruptcy in February. InKind plans to restart growth for the brand, leveraging its expertise in connecting diners with top-rated restaurants. CEO Johann Moonesinghe aims to expand the Etta brand, following closures of some locations under previous ownership. |
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