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Restaurant Expansion

All articles tagged with #restaurant expansion

El Pollo Loco Signs First NYC Lease, Targets 15 New York Restaurants by 2031
business14 days ago

El Pollo Loco Signs First NYC Lease, Targets 15 New York Restaurants by 2031

El Pollo Loco has secured its first lease in New York City, signaling a major step in its national expansion strategy. The chain, historically concentrated in California, plans to open 15 restaurants in the New York area over the next five years, with the first location in Queens expected to open in mid-2027. This move coincides with the appointment of new executive leadership and a significant rise in the company's stock price, reflecting investor confidence in its turnaround efforts.

via CNBC|
#business#corporate-leadership#el-pollo-loco
In-N-Out Expands Footprint with Six New Locations Across Five States
business3 months ago

In-N-Out Expands Footprint with Six New Locations Across Five States

USA TODAY reports that In-N-Out Burger plans six new restaurants in five states—California, Tennessee, Arizona, Utah and Idaho—with openings set for Commerce (CA), Madison (TN), San Tan Valley (AZ), St. George (UT), Stockton (CA) and Twin Falls (ID). The expansion comes as the chain continues to grow beyond California; CEO Lynsi Snyder-Ellingson has said the company won’t compromise on quality to grow and has previously dismissed East Coast expansion (and online ordering) in her lifetime.

via USA Today|
#business#california#fast-food
Cava Shares Drop Amid Lowered Sales Forecasts and Economic Uncertainty
business1 year ago

Cava Shares Drop Amid Lowered Sales Forecasts and Economic Uncertainty

Cava Group's stock dropped 22% after missing second-quarter revenue expectations and lowering its full-year same-store sales growth forecast to 4-6%, citing a revenue shortfall despite increased restaurant openings and earnings beat. The company opened 16 new locations in the quarter and plans to open up to 70 this year, raising pre-opening cost estimates but maintaining its EBITDA outlook.

via Barron's|
#business#cava#restaurant-expansion
"Culver's to Open 51 New Locations Nationwide"
business2 years ago

"Culver's to Open 51 New Locations Nationwide"

Culver's, a popular Midwest burger chain, plans to open at least 51 new restaurants in 2024, focusing on its current footprint of 26 states and not expanding into new ones. The expansion includes states like Florida, Georgia, Michigan, and Wisconsin. Known for its ButterBurgers and frozen custard, Culver's was recently named the best fast food restaurant in the United States by Fodor's Travel.

via USA TODAY|
#business#culvers#fast-food
Bojangles Announces Major Expansion into Los Angeles with 30 New Restaurants
food-and-dining2 years ago

Bojangles Announces Major Expansion into Los Angeles with 30 New Restaurants

Bojangles, known for its fried chicken and biscuits in the South, is expanding to the West Coast with plans to open 30 units in Southern California, starting with Los Angeles County in early 2025. Meanwhile, Boa Steakhouse has hired chef Brendan Collins to lead its kitchens and introduced new dishes, Quarter Sheets in Echo Park will offer reservations starting May 1, Cobras and Matadors has reopened in the former Spartina space, and Disneyland Resort is serving Star Wars-themed dishes until June 2 in celebration of May 4.

via Eater LA|
#bojangles#disneyland-star-wars-celebration#food-and-dining
"Shake Shack Soars on Strong Q4 Earnings and 2024 Outlook"
finance2 years ago

"Shake Shack Soars on Strong Q4 Earnings and 2024 Outlook"

Shake Shack's stock surged 20% after the burger chain reported strong fourth-quarter earnings, with a net income of $6.8 million and earnings per share of 2 cents, beating expectations. The company also saw a 20% increase in revenue year-over-year and plans to grow total revenue by 11% to 15% in 2024, with the opening of 80 new restaurants. CEO Randy Garutti expressed optimism for the year ahead, citing positive traffic and continued margin expansion.

via CNBC|
#finance#fourth-quarter-profit#restaurant-expansion
McDonald's Sets Ambitious Expansion Goals, Targets 50,000 Locations by 2027
business2 years ago

McDonald's Sets Ambitious Expansion Goals, Targets 50,000 Locations by 2027

McDonald's plans to expand its restaurant count to 50,000 by 2027, marking the fastest growth in its history. The company aims to boost its active loyalty user base to 250 million and increase annual systemwide sales to $45 billion by 2027. McDonald's will invest in digital, delivery, and drive-throughs, including partnering with Google Cloud to enhance operations and customer experience. The company also plans to update its burger lineup and expand its chicken business. Last quarter, McDonald's saw high-single-digit sales growth in its international markets and agreed to buy back Carlyle's minority ownership stake in its China business.

via Yahoo Finance|
#business#digital-sales#loyalty-program
McDonald's Sets Ambitious Growth Goals: Thousands of New Stores and Millions of Loyalty Members
business2 years ago

McDonald's Sets Ambitious Growth Goals: Thousands of New Stores and Millions of Loyalty Members

McDonald's plans to open nearly 9,000 new restaurants and add 100 million members to its loyalty program by 2027 as part of its long-term growth strategy. The fast-food giant aims to increase sales and attract customers by introducing an improved burger and focusing on chicken offerings. The company projects systemwide sales growth of 2% in 2024 and plans to grow its restaurant count by 4% to 5% annually. McDonald's also aims to have a global footprint of 50,000 locations by 2027. Additionally, the company announced a partnership with Google Cloud to utilize artificial intelligence for operational improvements.

via CNBC|
#business#capital-spending#loyalty-program