Corporate Operations: Page 27
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Courtesy of PR Newswire
KFC launches program to help employees build financial savings
The fried chicken chain's partnership with SaverLife offers workers the ability to earn points toward cash prizes for improving their financial health.
By Alicia Kelso • July 27, 2021 -
Dan Kitwood via Getty Images
McDonald's asks court to dismiss Black franchisee's amended lawsuit
The second amended complaint by James and Darrell Byrd still does not meet the minimum requirements to satisfy discrimination claims, McDonald's said in a memorandum filed last week.
By Emma Liem Beckett • Updated Aug. 9, 2021 -
Retrieved from Beatnic on July 27, 2021
By Chloe becomes Beatnic as part of rebrand
With a new name and owners, the vegan chain, which emerged from bankruptcy earlier this year, plans to expand its concept further into New York City and beyond.
By Julie Littman • July 27, 2021 -
McDonald's creates team to elevate diner experiences
Golden Arches veteran Manu Steijaert will lead the customer experience division in the new position of EVP and global chief customer officer effective Aug. 1.
By Emma Liem Beckett • July 26, 2021 -
Courtesy of California Pizza Kitchen
California Pizza Kitchen mulling sale or IPO, Bloomberg reports
The casual chain's annualized earnings for June are expected to be more than $10 million higher than they were before the pandemic, per Bloomberg.
By Alicia Kelso • July 26, 2021 -
Thai Phi Le/Restaurant Dive
McDonald's to allocate 25% of supply chain spend toward diverse businesses by 2025
The fast food chain is broadening its diversity goals beyond its corporate offices and restaurants, but accusations of inequity and prejudice within the company persist.
By Emma Liem Beckett • July 23, 2021 -
Courtesy of Business Wire
P.F. Chang's considering IPO, Bloomberg reports
The full-service chain could file to go public as early as this year and potentially have a valuation of at least $1 billion, the outlet said.
By Julie Littman • July 23, 2021 -
Courtesy of Shake Shack
Shake Shack to invest over $10M in employees
The money will go toward raises, sign-on and retention bonuses and leadership development programs over the next 12 months as restaurant chains battle the labor crisis.
By Emma Liem Beckett • July 22, 2021 -
Courtesy of Chipotle
Chipotle CFO: higher wages preventing staff shortages
The company maintains pricing power, finance chief Jack Hartung says, giving it flexibility to decide when to use that power to either protect margins or make an additional investment in its people.
By Jane Thier • July 22, 2021 -
Courtesy of Choco
Restaurant supply chain startup Choco secures $100M in funding
The company, which reported transaction volume quadrupling in the past year, will use the cash infusion to deploy new payment tools and expand in its existing markets.
By Alicia Kelso • July 20, 2021 -
Courtesy of Jollibee/PR Newswire
Jollibee plans to reach 500 stores in North America in 5-7 years
The popular Filipino fast food chain, which has 1,400 units in the Philippines, is already on its way to opening 28 stores in Canada and the U.S. this year.
By Julie Littman • July 20, 2021 -
Cindy Ord via Getty Images
Grubhub to absorb Seamless brand following Just Eat transaction
In addition to the single-brand strategy, Grubhub will focus heavily on growing in its strongest metro areas, like Chicago and New York City.
By Julie Littman • July 19, 2021 -
Portillo's targets $100M IPO
The chain boasted strong restaurant-level sales, reaching $7.9 million average unit volumes in the 12 months ending June 27 compared to $7.7 million in 2020, according to its S-1 document filed Monday.
By Emma Liem Beckett • Updated Sept. 27, 2021 -
Retrieved from Dickey's Restaurant Brands on July 13, 2021
Dickey's to debut a brick-and-mortar store for its virtual wings brand
Wing Boss will open a restaurant in the Dallas market following strong results just four months after its launch as a delivery-only brand.
By Alicia Kelso • July 14, 2021 -
McDonald's franchisees boosting pay, rolling out child and elder care benefits
Operators surveyed more than 5,000 employees to determine what new offerings, such as tuition coverage and child care, would be most attractive.
By Emma Liem Beckett • Updated July 13, 2021 -
Courtesy of Panera Bread
Panera tailors swimwear collection to those who eat soup in hot weather
The Swim Soup line's focus on e-commerce aligns with how Dunkin' and McDonald's are attempting to grow loyalty and build out a lifestyle positioning with devoted followers.
By Peter Adams • July 12, 2021 -
Courtesy of PR Newswire
Bonchon says 72% of stores planned for 2021 will be fast casual
The chain experienced 15.3% same-store sales growth as of the end of June, and the company said the fast casual format has been well received by franchisees.
By Alicia Kelso • July 12, 2021 -
Courtesy of Burger King
Burger King promotes COO Tom Curtis to president of US and Canada
Curtis enters his new role as the company attempts to reinvent itself in the QSR space, launching a digitally focused rebrand and loyalty program.
By Emma Liem Beckett • Updated Aug. 24, 2021 -
Permission granted by Subway
Subway to launch massive menu revamp
On July 13, the sandwich chain will roll out 20-plus menu updates, including 11 new ingredients and six all-new or returning sandwiches as part of its Eat Fresh Refresh campaign.
By Julie Littman • July 6, 2021 -
J. Alexander's Holdings sold to SPB Hospitality for $220M
The deal between the upscale dining chain and the parent company of Logan's Roadhouse and Gordon Biersch Brewery Restaurant is expected to close in Q4 2021.
By Emma Liem Beckett • July 2, 2021 -
Dan Kitwood via Getty Images
McDonald's plans to cut franchisees' tech fees by 62% following uproar
According to an internal memo obtained by Bloomberg, the change was made to "reset" the relationship between corporate and franchisees.
By Alicia Kelso • July 1, 2021 -
Courtesy of Fiesta Restaurant Group
Jack in the Box franchisee to buy Taco Cabana for $85M
Fiesta Restaurant Group sold the brand to YTC Enterprises, an affiliate of Yadav Enterprises. The sale leaves Fiesta with just Pollo Tropical in its portfolio.
By Alicia Kelso • July 1, 2021 -
Red Lobster taps head of Black Box as CEO
Effective Aug. 2, Kelli Valade will succeed Kim Lopdrup, who is retiring. She inherits the company after it refinanced the remainder of a $380 million loan in January.
By Emma Liem Beckett • July 1, 2021 -
Courtesy of Krispy Kreme
Krispy Kreme prices IPO at $17, far below original plans
The doughnut chain had planned for a range of $21 to $24 per share, but the depressed price could hint at lukewarm investor interest.
By Emma Liem Beckett • July 1, 2021 -
Darren McCollester via Getty Images
Au Bon Pain sold to Yum Brands franchisee
The café chain's parent company had planned to sunset the brand, Ampex Brands' CEO said, but Ampex is now looking to expand it beyond the 171 locations it acquires in this deal.
By Emma Liem Beckett • June 30, 2021
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