All articles tagged with #restaurant industry
A Denver bartender recounts a wild encounter where a diner claims a plate’s sides aren’t hers during a crab-and-shrimp order; after a brief back-and-forth about missing sides, the diner refuses the kitchen’s offer to fetch them, a manager gets involved, and a companion apologizes as they leave. The piece uses the event to illustrate a broader trend of increasingly rude behavior toward restaurant staff.
New York’s last Hooters location in Colonie has closed, leaving New York and Massachusetts as the latest states with no Hooters outlets amid the chain’s Chapter 11 bankruptcy; closures have also hit Connecticut and Minnesota with about 30 corporate-owned restaurants shuttered nationwide since the filing in 2025, as the brand pursues a more family-friendly rebrand under new leadership to recapture its 1980s vibe.
Boston’s steakhouse scene has grown to more than 30 concepts, with new openings like Hawksmoor and Bar 23 set to hit the Seaport, joining staples such as Grill 23, Maple & Ash, and The Bancroft, underscoring a high-end dining boom that may be pricey for some patrons.
U.S. pizza sales have slowed post-pandemic, with Pizza Hut underperforming peers (down 8.2% in the last year, per Technomic). Yum Brands agreed to sell Pizza Hut to Connecticut-based LongRange Capital, enabling Yum to focus more on higher-growth brands. LongRange, founded by Bob Berlin, plans to work with Pizza Hut’s executives and franchisees to drive the chain’s next growth phase, while Yum China and U.S. sales are expected to close in the third quarter.
Pizza Hut is being sold in two transactions totaling about $2.7 billion: LongRange Capital will buy the chain outside mainland China for roughly $1.5 billion, while Yum China Holdings will acquire the China business for about $1.2 billion. The deals, expected to close in Q3, come after Yum! Brands’ strategic review amid declining Pizza Hut sales and aging stores, allowing Yum! to focus more on its KFC and Taco Bell brands.
CNBC's Morning Squawk previews Tuesday's session with five themes: AI headlines (Altman, Stargate, Berkshire-Alphabet stake, HPE's earnings beat, Marvell's jump on Nvidia), political tensions and Nvidia-led market highs, Anthropic and SpaceX lining up IPOs, the DOJ's Anti-Weaponization Fund under debate, and McDonald's NEXT growth plan alongside surging Kalshi trading volumes.
A restaurateur who helped launch Schnipper’s and Hamburger America argues that big menus hurt profitability and customer focus. After opening more than 25 locations, he believes today’s customers prefer specialists and that a focused concept—like Hamburger America—allows you to excel at a few items. Rising meat and labor costs make it hard to raise prices, so trimming the menu from the start could have boosted efficiency and margins.
Rising gas prices weigh on U.S. restaurant sales in March, with traffic down 2.3% year over year; while Chipotle and Shake Shack held up, others like Applebee’s and Brinker International have leaned into value to attract budget-minded customers as low-income diners feel the squeeze.
Atlanta-based Inspire Brands, owner of Arby’s, Dunkin’ and more, filed for an IPO with the SEC, aiming to raise about $2 billion to repay debt; the offering’s size, share count and price range are to be determined, and the company notes its large restaurant network and ownership by Roark Capital amid a challenging dining landscape.
Chipotle delivered Q1 2026 revenue of $3.09B and adjusted EPS of 24 cents, with 0.5% same-store sales growth and 0.6% traffic gain, beating revenue expectations while net income fell to $302.8M due to higher taxes, wage costs and beef prices; the company also opened new stores to lift sales and kept its full-year same-store-sales guide flat, calling it conservative amid a volatile consumer backdrop, and named Fernando Machado as chief brand officer to bolster branding.
Five Guys CEO Jerry Murrell said he gave $1.5 million in bonuses to U.S. store employees after a botched 40th-anniversary buy-one-get-one-free promo, joking that he didn’t want anyone shooting him in the back. The Fortune interview revisits the chaotic promotion and its backlash, set against context including the murder case of UnitedHealthcare CEO Brian Thompson.
Mayor Brandon Johnson pledged to veto a City Council plan to freeze wage increases for tipped workers, preserving the 2023 One Fair Wage policy amid a split council vote that fell short of the override threshold. Proponents from restaurant groups say eliminating the tip credit hurts businesses and jobs, while workers and advocates argue higher wages combat wage theft and reflect workers' contributions. Johnson's aides cite data showing more restaurant licenses since the raises began, though several aldermen who supported the raises switched positions. The meeting also advanced other measures, including police accountability under the Welcoming City ordinance and a democracy-zone working group, and confirmed Susan Cappello to lead Animal Care and Control.
Diners are cutting back on visits to fast-casual chains like Chipotle, Cava, and Sweetgreen as prices rise, leading to softer traffic and sales. Brands are avoiding deep discounts, instead adding limited cheaper items and maintaining premium offerings to balance margins amid higher beef and produce costs, signaling a cautious shift in consumer dining due to inflation.
Panera Bread rolled out its first value menu, Mix & Match, offering 10 items at $4.99 each with a two-item minimum to attract price-conscious diners during a turnaround; items rotate seasonally and diners get a baguette, chips, or an apple with their order, while You Pick Two remains available.
Wendy's plans to close 300–360 U.S. stores in 2026 (about 5–6% of its outlets) to boost profitability at remaining locations; interim CEO Ken Cook says closures will improve sales and profits, a move that sent shares higher. The company reported U.S. sales fell more than 11% in Q4 2025 as rising costs and higher prices squeezed consumers, especially those in lower-income brackets, prompting Wendy's to lean more on value offerings.