{"id":10886,"date":"2018-08-23T10:14:52","date_gmt":"2018-08-23T14:14:52","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/?p=10886"},"modified":"2018-08-23T10:14:52","modified_gmt":"2018-08-23T14:14:52","slug":"datatrac-restaurant-foodservice-august-2018","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2018\/08\/datatrac-restaurant-foodservice-august-2018\/","title":{"rendered":"DATATRAC: Restaurant & Foodservice \u2013 August 2018"},"content":{"rendered":"

Personnel Updates<\/strong><\/h4>\n

\u2022 Ark Restaurants Corp. (12) <\/strong>President and CFO Robert J. Stewart passed away.<\/p>\n

\u2022 Asian Box<\/strong> (7)<\/strong> named Mike Speck (formerly with The Halal Guys<\/strong>) as its new CEO. Co-Founder and former CEO Frank Klein stays on as Brand Ambassador. Klein will work on the launch of a new concept, Roost House.<\/p>\n

\u2022 Back Yard Burgers (6)<\/strong> named Scott Shotter CEO.<\/p>\n

\u2022 Brinker International (71)<\/strong> named Kelly Bates Exec VP and President of Maggiano\u2019s. <\/strong><\/p>\n

\u2022 Buffalo Wings & Rings (10)<\/strong> named Joe Dominiak COO.<\/p>\n

\u2022 Del Frisco\u2019s (27) <\/strong>named Mia Meachem as its new CMO. She replaces Brandon Coleman who was named President of the company\u2019s Del Frisco Grille <\/strong>division.<\/p>\n

\u2022 Dickey\u2019s (15) <\/strong>brought in Ken Miller as Senior VP of Operations.<\/p>\n

\u2022 Domino\u2019s (74) <\/strong>named Tom Curtis as its new Exec VP of Team USA. He\u2019ll lead company-owned stores in the US. Curtis replaces Stan Gage who has left the company to become a franchisee.<\/p>\n

\u2022 Famous Dave\u2019s (16) <\/strong>added Sylvia Matzke-Hill to its leadership team as Head of Culinary.<\/p>\n

\u2022 FAT Brands (16) <\/strong>named Rebecca Hershinger as its new CFO. Former CFO Ron Roe stays on as Senior VP of Finance and will focus on the integration of newly acquired concepts.<\/p>\n

\u2022 Fired Up Inc. (4) (Johnny Carinos) <\/strong>Founder Creed Ford III passed away.<\/p>\n

\u2022 First Watch (26) <\/strong>hired Mel Hope, formerly of Popeyes,<\/strong> as its new CFO.<\/p>\n

\u2022 Kona Grill (11)<\/strong> promoted COO Jim Kuhn to CEO. Out-going CEO Berke Bakay becomes Executive Chairman.<\/p>\n

\u2022 Lawry\u2019s (5)<\/strong> promoted Ryan Wilson to Chief Marketing Officer.<\/p>\n

\u2022 The Palm Restaurant Group (12) <\/strong>hired Jens Baake as its new COO.<\/p>\n

\u2022 Papa John\u2019s (35) <\/strong>named Olivia Kirtley as Chairman, replacing Founder John Schnatter.<\/p>\n

\u2022 Paris Baguette<\/strong> (5)<\/strong> named Jack Moran COO.<\/p>\n

\u2022 Portillo\u2019s<\/strong> (10)<\/strong> announced that P.F. Chang\u2019s <\/strong>CEO Michael Osanloo has been named its new CEO. He\u2019ll take over for the retiring Keith Kinsey in October.<\/p>\n

\u2022 The Wendy\u2019s Co. (47)<\/strong> announced the CIO David Trimm will retire early next year and be replaced by Chief Concept and Marketing Officer Kurt Kane who will head up a new \u201cDigital Experience Organization\u201d within the company. Also in the mix are CFO Gunther Plosch who will add enterprise technology to his remit and COO Bob Wright, who will take point on in-store technology while handing over international oversight to Chief Development Officer and new Head of International, Abigail Pringle.<\/p>\n

\u2022 Wetzel’s Pretzels<\/strong> (10)<\/strong> named Kimberly Smith CFO.<\/p>\n

 <\/p>\n

Financial Focus<\/strong><\/h4>\n

\u2022 Brinker International Inc. <\/strong>released its FYE 6-27-18 earnings statement. Total revenue was down -0.5% for the year. Chili\u2019s <\/strong>comparable store sales were down -1.3% on the year while Maggiano\u2019s <\/strong>were flat.<\/p>\n

\u2022 Noon Mediterranean <\/strong>filed for Chapter 11 bankruptcy.<\/p>\n

\u2022 Real Mex Restaurants <\/strong>has filed for Chapter 11 bankruptcy and has agreed to sell itself to Z Capital Group for $47 million, though the door is open for a higher bidder to scoop up the company.<\/p>\n

\u00a0<\/strong><\/p>\n

Industry Insight <\/strong><\/h4>\n

\u2022 Applebee\u2019s <\/strong>revised its projections for store closures to 80 to 90 domestic restaurants plus 10 international stores, as compared to previous guidance of a combined 60 to 80 domestic and international closings.<\/p>\n

\u2022 Bloomin\u2019 Brands <\/strong>will expand Outback <\/strong>and Carrabba\u2019s<\/strong> delivery to another 200 locations by the end of the year, doubling the number of stores that offer the service.<\/p>\n

\u2022 Bojangles\u2019 <\/strong>plans to close10 stores and refranchise approximately 30 others. Refranchising efforts are focused primarily in Tennessee with a pending sale to a large existing franchisee.<\/p>\n

\u2022 Chick-fil-A <\/strong>is trialing meal kits in Atlanta-area stores.<\/p>\n

\u2022 Jack in the Box <\/strong>will drop $45 million over three years to improve its drive-thru lanes with new digital menu boards and tablet-holding order-takers.<\/p>\n

\u2022 Melting Pot <\/strong>is expanding its menu and adding grills to all of its locations.<\/p>\n

\u2022 Oath Pizza<\/strong> received a sizable investment from Aramark. The latter will look to grow the brand among its college, hospital, sports venue and corporate caf\u00e9 accounts. Oath also plans to enter the franchise fray and continue to open company-operated stores.<\/p>\n

\u2022 Papa John\u2019s <\/strong>founder John Schnatter is suing the company.<\/p>\n

\u2022 RBI <\/strong>has consolidated its US operations, moving Popeyes <\/strong>corporate headquarters from Atlanta to Miami, the home of Burger King. <\/strong><\/p>\n

\u2022 Schlotzsky\u2019s Deli <\/strong>is changing things up. It\u2019s changing its name to Schlotzsky\u2019s Austin Eatery, changing its branding, adding beer and wine sales and remodeling all 350 stores by the end of 2019 in a bid transform itself into a \u201cfast fine\u201d brand. 18 restaurants have already been converted.<\/p>\n

\u2022 Starbucks<\/strong> opened its first standalone Princi <\/strong>bakery in Seattle.<\/p>\n

\u2022 Steak n Shake<\/strong> is offering to sell its 400 company owned stores to single-unit franchise partners for $10,000 in return for a 15% royalty on sales and a 50\/50 split of profits.<\/p>\n

\u2022 Subway <\/strong>launched an $80 million store refresh program, \u201cFresh Now,\u201d that includes new menu boards, uniforms and menu ingredients. San Diego is the test market with the rest of Subway’s North American stores expected to be updated by next summer.<\/p>\n

\u2022 Tim Hortons<\/strong> is getting all day breakfast in a bid to boost sales. The company will also roll out a loyalty program and a kid\u2019s menu.<\/p>\n

\u2022 Tropical Smoothie Caf\u00e9 <\/strong>opened its 700th<\/sup> location.<\/p>\n

\u2022 US Foods <\/strong>acquired SGA\u2019s Food Group for $1.8 billion.<\/p>\n

\u00a0<\/strong><\/p>\n

Mergers and Acquisitions<\/strong><\/h4>\n

\u2022 ARC Group <\/strong>(owners of Dicks Wings<\/strong>) is close to finalizing a deal to acquire Titled Quilt. <\/strong><\/p>\n

\u2022 CAVA Group<\/strong> will acquire Mediterranean fast-casual Zoe\u2019s Kitchen<\/strong> in a $300 million deal that will take Zoe\u2019s private. The deal comes thanks to a \u201csignificant investment\u201d in CAVA by a group led by Ron Shaich, Founder and ex-CEO of Panera.<\/strong> Brett Schulman, current CAVA CEO, will head up the combined companies while Shaich will serve as Chairman. Zoe\u2019s can shop for a higher bidder for 35 days, and the deal is expected to close in Q4.<\/p>\n

\u2022 Focus Brands <\/strong>will acquire Jamba, Inc.<\/strong> for $200 million in a deal expected to close in the third quarter.<\/p>\n

\u2022 Hooters <\/strong>is back up for sale.<\/p>\n

\u2022 Krispy Kreme <\/strong>will acquire a majority stake in Insomnia Cookies,<\/strong> a move that adds another snack\/coffee concept to JAB Holding Co.\u2019s portfolio.<\/a> Early word is that Insomnia will continue to operate as an independent company.<\/p>\n

\u2022 Which Wich <\/strong>parent company Sinelli Concepts acquired fellow Dallas-based Paciugo Franchising, <\/strong>a chain of 32 gelato shops. Jeremy Cook, previously of Cold Stone Creamery, <\/strong>will head up the concept.<\/p>\n

 <\/p>\n

Real Estate<\/strong><\/h4>\n

\u2022 Chick-fil-A <\/strong>will expand to Canada in 2019 when it opens a franchise location in Toronto.<\/p>\n

\u2022 Cousins Subs <\/strong>is moving into Chicagoland. The company signed a franchise deal with brothers Amit and Kalpesh Patel for up to 40 locations through 2025. The first store is expected to open this fall.<\/p>\n

\u2022 Kahwa Coffee<\/strong> (St Petersburg, FL) signed a deal with Publix supermarkets to place Kawha Coffee in Publix stores. The program starts with locations in two Florida cities and will expand to a Virginia Publix next.<\/p>\n

\u2022 Lazy Dog Restaurant & Bar <\/strong>will open its first East Coast location in greater Atlanta in Spring 2019.<\/p>\n

\u2022 McDonald\u2019s<\/strong> and its franchisees are investing $6 billion in remodeling 5,000+ stores in 16 states and DC by the end of 2020. The plan calls for an interior and exterior refresh; new counters, McCafe counters and display cases; new digital menus inside and in the drive-thru; and changes to parking to accommodate mobile pickup. States getting the new-look stores are AZ, CA, CO, FL, GA, IL, IN, MA, MD, NC, NY, OH, PA, TX, VA, and WA along with DC.<\/p>\n

 <\/p>\n