Darden Restaurants anticipates softer growth as consumers manage spending: Diners are ordering less alcohol and opting for QSRs over full service.
It partnered with FreedomPay and Marriott as part of a wider shift to grow volume by focusing on payments for bigger restaurant and hospitality brands.
Sweetgreen goes all in on automation: The salad chain expects all stores to be automated in five years as it moves to a speedier and more consistent customer experience.
Cava IPOs at a difficult time for the restaurant industry: The fast-casual chain hopes to use the funds to expand aggressively, despite declining traffic and growing competition from grocers.
DoorDash hopes five weeks of promotions will be enough to convince customers to pony up for DashPass: The delivery platform is also highlighting the range of available merchants, from Taco Bell to Dick’s Sporting Goods, to drive signups.
Restaurants see opportunity even as more consumers look for savings: Operators plan to hire over 500,000 workers this summer in anticipation of strong demand, but sales may fall short as diners pull back.
Increasingly cost-conscious consumers pivot away from restaurant delivery: Nearly half of all consumers have picked up their carryout orders themselves rather than have them delivered.
Panera Brands looks to follow Cava Group in filing for an IPO: The restaurant chain appointed José Alberto Dueñas as its new chief executive as it prepares to go public. (This article was written with the assistance of ChatGPT.)
QSRs turn to tech to cut costs and boost efficiency: Wendys, Hardee’s, Carl’s Jr., and Sweetgreen are among the chains turning to automation to streamline operations.
Starbucks workers’ unionization drive is beginning to slow: Employees at several stores have petitioned to leave the union as the company’s anti-union tactics and economic uncertainty take their toll. (This article was written with the assistance of ChatGPT.)
Consumers are shifting spending to services as China’s post-lockdown economic recovery continues: But a full rebound is looking increasingly far off as confidence remains low.
Sweetgreen sales beat expectations as workers head back to the office: The fast-casual chain is leaning into loyalty, menu enhancements, and automation to power profitable growth.
DoorDash and Uber Eats deliver solid results: That’s thanks to their strong customer retention, which will prove important if the economy worsens.
Yum Brands’ same-store sales jumped 8% in Q1: However, the company’s overreliance on promotions such as Taco Bell’s $2 burritos and KFC’s $5 mac & cheese hurt its bottom line.
Starbucks’ global comparable store sales grew 11% in Q2: A boost in demand in China helped the company beat analysts’ expectations.
Higher prices don't deter consumers from Restaurant Brands International’s chains: Same-store sales surged at Burger King and Tim Hortons in Q1.
Economic uncertainty is making it hard for some to keep up: Prolonged inflation, financial stress, and rising debt are making for a challenging environment.
McDonald’s had the most downloaded app of any quick-service restaurant in the US in March, with 3.5 million downloads, about 2 million more than No. 2 Starbucks, according to Apptopia. Taco Bell, Subway, and Domino’s Pizza rounded out the top five.
McDonald’s and Chipotle see sales, visits soar as consumers search for value: Both companies credited digital initiatives with helping boost customer engagement and loyalty.