Yum Brands benefits as cost-conscious customers trade down: The QSR chain’s Q3 comp sales beat expectations thanks to strong demand for KFC.
DoorDash recorded record revenues, total orders in Q2 as consumers stick with food delivery: The platform gained market share across the restaurant, grocery, and convenience categories.
Strong mobility and food delivery demand helped power Uber to its first operating profit: The platform saw an increase in both users and order frequency.
Starbucks missed Q3 revenue expectations as price increases weighed on sales: But a strong recovery in China helped the coffee chain make up for softer sales in North America.
QSR customers pinch pennies: McDonald’s savvy marketing and strong value proposition helped it deliver strong Q2 results, while Chipotle’s high prices led it to fall just short of expectations.
Grubhub+ rewards members for picking up their orders: That’s one of the new features for the revamped program that Grubhub estimates will save members an additional 20% per month.
Domino’s customers are particularly price sensitive: That explains why small price increases can have an outsize impact on sales.
Chipotle pushes into smaller US markets: It also announced its first international franchising deal, which could lead to hundreds of Middle Eastern locations.
Restaurants are cutting their virtual brands: Some, like Red Robin and Applebee’s, are looking to save resources as customer behavior shifts, while others have fallen victim to Uber Eats’ crackdown.
Nobody wants to pay $10 billion for Subway: The sandwich chain is seeking more bidders as rising interest rates and the business’ lackluster performance temper prospective buyers’ enthusiasm.
Domino’s will soon list its menus on Uber Eats and Postmates: The pizza company sees the apps as a means to drive incremental revenues.
Chipotle’s latest robotic experiment is a machine that preps avocados for guacamole: The QSR chain expects the Autocado to cut prep time in half, reduce worker injuries, and unlock millions in savings.
Food delivery platforms push back against NYC’s minimum pay law: Uber, DoorDash, and Grubhub say the new standard would raise costs for businesses and consumers while limiting worker flexibility.
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.