All articles tagged with #restaurant chain
Olive Garden will introduce smaller, more affordable portions of select dishes in the new year after positive customer feedback, aiming to enhance affordability perceptions and increase visit frequency, without replacing existing menu options.
Sally's Apizza, a renowned New Haven-style pizzeria, plans to open 255 new locations across 12 states starting in 2026, including 25 in New York, as part of its expansion efforts.
RaceTrac, a convenience store operator, is acquiring sandwich chain Potbelly for $566 million, marking a rare move for a convenience store company to buy a restaurant brand outright, with the deal representing a 47% premium and potentially inspiring other convenience stores to consider restaurant acquisitions.
Dick Portillo, the founder of Portillo’s, sold his billion-dollar Chicago-style hot dog chain in 2014 and has since built a diverse real estate and investment portfolio, becoming wealthier than ever, though he admits he misses the fun of building his original business.
Five Frisch's restaurant locations in Hamilton County, including the original Fairfax site, are facing eviction due to ongoing financial difficulties. Court hearings for these evictions are scheduled for December 13, 2024, following a series of similar financial challenges and evictions across the Greater Cincinnati area.
Cracker Barrel is planning a makeover to update its decor and menu in an effort to stay relevant. CEO Julie Felss Masino announced the removal of 20 menu items and the addition of new dishes like slow-braised pot roast and hashbrown casserole shepherd’s pie. The chain will also pilot a remodel featuring a new color palette, updated lighting, and more comfortable seating. Despite these changes, the company aims to maintain its old-fashioned appeal.
Vitalii Kovalev, a former chef of a Russian restaurant chain in the US, is suspected of being a spy involved in the "Havana Syndrome" case, with evidence suggesting ties to Russian intelligence. A five-year investigation revealed his background in military technology and a mysterious FBI agent's brain injuries during her probe of him. The investigation concluded that a Russian elite assassination unit was behind the neurological attacks, some causing severe brain damage to US officials. Kovalev was arrested in 2020 and later returned to Russia, where documents have surfaced indicating his involvement in fighting in Ukraine before his death in February 2023.
Skyline Chili, a Cincinnati-based restaurant chain, has announced a switch from Pepsi to Coca-Cola products at its locations starting in April, with all locations expected to make the change by the end of May. The move has sparked mixed reactions from the public, with some expressing excitement for the new beverage options while others are disappointed to lose access to Pepsi products like Mountain Dew.
Skyline Chili is switching from Pepsi to Coca-Cola products starting in April, bringing in Coke products like Dr. Pepper, Bangs, and Fanta while discontinuing Mountain Dew but adding Mello Yellow as a new option. The change will be completed at all 138 Skyline locations in Ohio, Indiana, Kentucky, and Florida by mid-May, aligning with the restaurant's 75th anniversary celebration.
Cava's stock rose 7% after the Mediterranean restaurant chain released its earnings report a day early, reporting fourth-quarter net income of $2.05 million and a revenue increase of 36%. The company plans to open between 48 and 52 new locations in 2024 and has seen its shares soar 145% since its initial public offering in June, reaching a market value of $6.14 billion.
After the initial frenzy, Applebee's is making more Date Night Passes available through a random drawing, allowing customers to purchase the $200 pass for $30 off 52 meals and non-alcoholic beverages at any participating Applebee’s location through Jan. 31, 2025. Interested participants can enter the drawing by submitting basic information on the Applebee’s Date Night Pass website until Friday, Feb. 9, with winners notified via email on Valentine’s Day.
Chuck E. Cheese, the U.S. restaurant chain known for its arcade games and rat mascot, is reportedly exploring a sale with the assistance of investment bank Goldman Sachs. The company, which emerged from bankruptcy in 2020, is expected to generate around $1.2 billion in revenue and $195 million in EBITDA this year. Potential acquirers include private equity firms and competitors like Dave & Busters. While the company could fetch over $1 billion in a sale, no deal is certain at this time.
Subway has announced that nearly 10,000 people have expressed their willingness to legally change their names to "Subway" in order to receive free sandwiches for life. The winner will be selected later this month and will also receive reimbursement for legal and processing costs. This promotion comes as Subway introduces freshly sliced meats in its U.S. restaurants and undergoes a menu reboot. The restaurant chain is also reportedly in the process of finding a buyer, with a potential sale expected to be completed by the end of August.
Cracker Barrel Old Country Store missed revenue and earnings expectations for its fiscal third quarter due to a decline in traffic, causing the stock to fall.
Cava Group, a Mediterranean fast-casual restaurant chain in the US, is aiming for a valuation of up to $2.12 billion in its US IPO. The company plans to sell around 14.44 million shares priced between $17 and $19 apiece, aiming to raise up to $274.4 million based on the top end of the proposed range. The company plans to list on the New York Stock Exchange under the symbol "CAVA."