A perfect storm’: These restaurants survived the pandemic . . . .

Now they Can’t Find Workers

A few weeks ago, Philippe Massoud posted online ads looking for a cook to hire at ilili, his New York City restaurant. Typically, he said, 60 or 80 people might show up to interview for a position like that one. This time? Nobody. “That has not happened, ever, in the 14-year history of the business,” Massoud said. Ilili, an upscale Lebanese spot, currently has about 78 employees, a little less than half of its pre-pandemic workforce, Massoud said. The way business is going now, he could use another 12 people. The staffing shortage means the restaurant is not open for business during lunch or on Monday nights, even as it struggles. “We just don’t have the bodies,” he said. Dining restrictions are lifting across the country, and people are getting each day. That’s good news for restaurants desperate for more business after getting hit hard last year. Enter your email to receive CNN’s nightcap newsletter. But some restaurant operators say they are facing a problem that could impair their road to normalcy: They can’t find enough people to work for them. When states went into lockdown and US restaurants were ordered to close their doors in spring 2020, many establishments let workers go. From March to April of last year, restaurants and bars lost 5.5 million jobs, according to the Bureau of Labor Statistics. That meant millions of people found themselves out of work essentially overnight. Those jobs are coming back: Restaurants and bars added about 176 jobs in March. But the sector was still 15%, or about 1.8 million jobs, below the pre-pandemic employment level, according to the National Restaurant Association. It’s not just high-end, independent restaurants like Massoud’s that are feeling a labor pinch. The CEO of Darden Restaurants, which owns Olive Garden, Longhorn Steakhouse, Cheddar’s Scratch Kitchen, and other chains, recently called hiring the company’s “number one priority.” “Our greatest challenge right now is staffing,” Darden CEO Eugene Lee said on a call with analysts late last month. Before the pandemic, Darden had about 165,000 active hourly employees, he said, but as of a few weeks before the call, that number was down to about 115,000. Major chains in the fast-food industry have also said they are staffing up. Taco Bell is hoping to hire at least 5,000 people during a nationwide hiring event on Wednesday. McDonald’s wants to hire 25,000 employees in Texas alone, starting with a three-day hiring event last week. IHOP wants to hire 10,000 new people and is planning a national recruiting day for May 19. Restaurants “are getting ready to open up and hire at the same time,” said Andrew Chamberlain, chief economist at Glassdoor, which hosts job ads. “It’s leading to a massive boost in demand for these workers,” he said, noting that “makes them scarce and hard to hire.” But there may also be fewer people looking for restaurant jobs than before.

Where are the restaurant workers?

So if restaurant workers aren’t looking for restaurant work, where are they going? Some have left the industry altogether. Jessica Vines, 45, left her job as a server at the Mexican restaurant El Pavo Real in New Orleans last year. While she had held jobs in human resources and accounting in the past, her passion was hospitality, she said. About six years ago, following her son’s high school graduation, she moved to the city from Indianapolis to work in the industry. When the pandemic hit last year, her busy schedule — which included a separate bartending gig — dwindled, and her wages took a hit. She was working just five hours a day at the restaurant, which was only preparing takeout orders. Vines decided in August to head back to Indianapolis, where her son still lives. She was able to find a job as an accounting associate at a medical device company, “I just didn’t see an end in sight,” she said. “I knew I couldn’t do it for another year.” Vines had become close with the El Pavo team, and leaving them was difficult. “Those are the people I keep in touch with the most,” she said. “Those are still the people I talk to every single week.” Lindsay McLellan, who along with her husband owns El Pavo Real, described Vines as not just an employee but a friend. “We’re very sad to have her leave, but I get it, I really do,” she said. Even though she misses the camaraderie of restaurants, she’s not sure she’ll ever work in a restaurant or bar again. The last year has made her wary of a future in the hospitality industry. “If this happened again, I would be at the same place,” she said. “I don’t foresee … a safety net for people like me.” Last year, a Glassdoor Glassdoor analysis looked at a group of over 120,000 job seekers who were actively searching for “restaurant server” positions on its site in January and February. It then tracked those users’ job searches in April and the first half of May. Glassdoor found that within that cohort, searches for “data entry” jobs jumped about 400% during that period compared to the year before. Searches for “remote” positions jumped roughly 300%, and searches for Amazon — which Glassdoor sees as a catch-all for warehouse, delivery, and other jobs — rose about 600%. The analysis didn’t track whether those people ended up in new jobs but Chamberlain said that, statistically, it’s likely at least some fraction did. “They might be reluctant to leave those new sectors and move back over into restaurants because of the turmoil over the past year,” he said. Some young restaurant workers have likely gone back to school, he said and left the labor market completely. School enrollment tends to surge during recessions, he explained. And, of course, many people may be afraid of going back to restaurant jobs while the pandemic is still going on, or maybe unable to return to work because of child care or other responsibilities that have become more acute during the pandemic. “All of these factors combined are creating a perfect storm hitting restaurants,” he said. The changes could prove permanent Chamberlain said. And, he added, that could mean restaurants having to adopt new technologies to replace certain roles and making other positions more efficient.

Making a second first impression

John Horne, owner of Anna Maria Oyster Bar in the Bradenton area in Florida, employs about 300 workers across his four locations. Before the pandemic, that figure was closer to 400. “Our problem is not being able to get staff,” Horne said. “It’s absolutely horrible.” Unlike Massoud, Horne hasn’t shortened hours, even though he’s looking to hire about 50 workers. But his employees are pulling long shifts, he noted, leading to an unsustainable situation. “At some point, they’re going to just say ‘I can’t,'” Horne said. “We’re doing everything we can to make sure that we’re getting them everything they need,” he added. “But we also have to give good service. My guests don’t care that I have a staffing problem.” After a year at home, some customers will show up to restaurants with a critical eye, Horne noted. They’ll want to feel safe and taken care of. “It’s almost like you’ve got first-time guests again,” he said. Horne said his kitchen workers earn between $13 and $18, and servers earn more on average because of tips. He said he’s offering hiring bonuses to try to bring people in. He suspects that some people are opting to rely on unemployment benefits instead. Horne, who serves as restaurant director at the Florida Restaurant and Lodging Association, has voiced concerns about raising the minimum wage, a position that aligns with that of the association For some low-earning workers, unemployment benefits could amount to about the same as a check from a restaurant — where they run the risk of exposure to Covid-19. Massoud also mentioned unemployment benefits as a possible reason some workers are not coming back to work. But there are other factors, too, he said. Some of his former employees left New York City. Some don’t have child care without school and so aren’t able to return to work, and others may have decided to switch careers. “If this does not get rectified soon as possible, it’s going to further damage our industry,” he said. “The mere fact that we are unable to open fully because of the labor shortages is going to hurt us in the long term.”  — Source: CNN Business.

 

Covid – 19 conditions crippled the once-rising brand’s trajectory . . . .

The Lost Cajun Declares Bankruptcy

The Lost Cajun, a full-service concept once headed for aggressive growth, filed bankruptcy Wednesday after devastating effects from the pandemic. The restaurant’s franchising company, The Lost Cajun Enterprises, filed the petition. The Lost Cajun Spice Company—created in 2016 to coordinate the sale and distribution of goods to the restaurants—also declared bankruptcy. The Lost Cajun Enterprises listed roughly $338,000 in assets and $1.4 million in liabilities. The Lost Cajun Spice Company listed assets of approximately $6,000. In October 2016, The Lost Cajun had nine restaurants open across four states, seven of which opened since the start of 2014. The concept said at the time that it hoped to have eight to 10 open by the end of 2017 and as many as 50 in the next five years. By 2018, 15 franchises were open. Eight more were scheduled to open, and roughly 11 were in the pipeline. The chain expected to debut 10 franchised stores on average per year. But in 2020, franchisees “fell victim to the global COVID-19 pandemic.” The companies had to implement several cost-saving measures, such as cutting salaries and reducing or eliminating fees for “financially distressed franchisees” who either closed stores or were operating at a reduced capacity. The methods didn’t work, according to court filings. “Despite assistance from the Debtors, a number of The Lost Cajun franchisees failed and those that remain open suffered significant revenue losses, with some indicating to Franchisor that closings may be likely,” court documents said. To assist with operations, The Lost Cajun Enterprises applied for and received Economic Injury Disaster and Paycheck Protection Program loans with a combined value of $330,000. Still though, because the restaurant count has decreased and is expected to drop even further because of COVID, the companies filed bankruptcy to “reorganize their debts and obligations so that Debtors are not, going forward, insolvent.” “The Debtors believe an immediate and orderly transition into Chapter 11 is critical to the viability of their operations and that any delay in granting the relief requested could hinder the Debtors’ operations and cause irreparable harm,” court filings said. “Furthermore, the failure to receive the requested relief during the first 21 days of these Chapter 11 cases would severely disrupt the Debtors’ operations at this critical juncture and imperil the Debtors’ restructuring.” Raymond “Griff” Griffin and his late wife, Belinda, opened the first Lost Cajun in Frisco, Colorado in 2010. A couple of years later, Griff and Jon Espey, his fishing buddy, joined forces to open a second unit in Breckenridge, Colorado. After finding success at both stores, the Lost Cajun Enterprises was formed to begin franchising. In 2018, The Lost Cajun bought out Espey, who served as company president. The brand still owes $651,000 in the buyout agreement. It was forced to stop payments amid COVID. The restaurant’s website lists 25 locations across Colorado, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, and Texas. Two are described as “coming soon” in California and South Carolina. The brand offers southern-style home cooking, such as fried catfish, shrimp, oysters, authentic Louisiana Gumbo, po-boys, and beignets. – Source: fsr magazine.

Cracker Barrel Old Country Store announced that Darryl “Chip” Wade, 58, has been appointed to the company’s Board of Directors, effective immediately . . . .

Cracker Barrel Appoints Darryl Wade to Board of Directors

The fifth new director named to the Board in the last four years, Mr. Wade’s appointment is the result of the Company’s robust board succession and refreshment program – a core element of the Board’s larger, ongoing commitment to alignment with and accountability to shareholders. Mr. Wade is President of Union Square Hospitality Group, LLC (USHG), the parent company of numerous award-winning and acclaimed restaurants such as Union Square Cafe, Gramercy Tavern, and The Modern, as well as a multifaceted catering and events and restaurant consulting business. Mr. Wade joined USHG in 2019 after having served as the EVP of Operations for Red Lobster Seafood Company, a position he held for several years, both while it was owned by Darden Restaurants, Inc. and after its divestiture to Golden Gate Capital. During his extensive four-decade career in the restaurant industry, Mr. Wade also served as the Chief Operations Officer for Legal Sea Foods Restaurant Group and held several senior executive positions at Darden, including Senior Vice President of Smokey Bones BBQ and the Director of Revitalization for Olive Garden Restaurants. Mr. Wade began his career in 1985, as a general manager for TGI Friday’s in Boston, and spent his first 14 years with TGIF and its parent, Carlson Restaurants Worldwide, including as Executive Director of Human Resources and Executive Director of Non-Traditional Development and Domestic Franchise Sales. Mr. Wade holds a Master of Business Administration degree from the University of Texas at Dallas, a Bachelor of Science degree from Widener University, and an Associate of Culinary Arts degree from Johnson & Wales University. Norm Johnson, the Chairman of the Company’s Nominating and Governance Committee, states, “As we have discussed with our shareholders as part of our annual engagement process, Cracker Barrel’s Board is committed to a thoughtful succession planning and Board refreshment process. Our ability to continually recruit directors of Chip’s caliber is a testament to the strength of our Board and our company, as well as the thoroughness of those processes. Chip is the third new director we’ve added in the last twelve months and the fifth we’ve added in the last four years.” William McCarten, Chairman of the Cracker Barrel Board of Directors, adds, “Chip brings with him a deep knowledge of the casual dining industry and a wealth of experience with various concepts, including as the current leader of one of the country’s most innovative and admired restaurant and food-service organizations. Not only is Chip an accomplished operator and leader, but he understands the strategic imperatives of Cracker Barrel and the casual dining industry. A long-time admirer and guest of Cracker Barrel, he knows our brand well. We anticipate Chip’s deep industry expertise will add not only a highly relevant strategic perspective to our Boardroom but also meaningful insight for our management team.”  — Source: fsr magazine.

Starbucks invests $300,000 to help COVID-19 vaccines reach underserved communities . . . .

An additional $150,000 from The Starbucks Foundation goes to Helping Close Vaccine Disparities across Washington State

Starbucks invested $300,000 this week to help increase equitable access to COVID-19 vaccines and help underserved communities become vaccinated. Of that money, $250,000 went to Team Rubicon – a non-profit that mobilizes veterans and their skills to help people recover from humanitarian disasters – which is currently working to deliver vaccines to rural and tribal communities with limited healthcare resources through mobile and fixed vaccination sites. Team Rubicon has, to date, delivered almost 1 million vaccines, according to Starbucks. The other $50,000 went to two local Seattle-area hospitals – Swedish and UW Medicine – to help support mobile clinics that are delivering vaccines to vulnerable and underserved communities in the city. The Seattle-based quick-service coffee chain is also working with Team Rubicon to develop a “playbook” based on the organization’s test of its mobile vaccination units. The playbook will be “an open-source resource for agencies and organizations across the country,” according to a statement from Starbucks. An additional $150,000 from The Starbucks Foundation went to the Vaccine Equity Initiative in partnership with All in WA and The Seattle Foundation to help close the disparities in vaccine access across Washington state using community-based organizations. On Wednesday, President Joe Biden announced the country is expected to hit the goal of 200 million vaccinations within his first 100 days in office. To reach that goal, he said, employers and companies must offer paid time off to employees for vaccines and/or sick time as a result of side effects. “No working person in this country should lose a single dollar from their paycheck to take time to get the shot or recover from it,” the White House said in a statement. Starbucks currently offers two hours of PTO per shot (up to two times) and four hours of PTO for side effects (up to two times). In January, Starbucks joined Washington Gov. Jay Inslee and Challenge Seattle in a public-private partnership to help optimize accelerated, safe, and equitable access to the COVID-19 vaccines across Washington State.

Woworks has a deal with Combo Kitchen to bring Saladworks and Frutta Bowls to five to seven new locations every month this year . . . .

Saladworks Parent Teams with another Ghost Kitchen Company

The parent of Saladworks is doubling down on its nontraditional growth strategy. After unveiling a plan to add 90 locations with Ghost Kitchen Brands in late March, Woworks announced this week an agreement with ghost kitchen franchise Combo Kitchen to bring its Saladworks and Frutta Bowls concepts into the kitchens of existing restaurants. The partnership began in October, and Saladworks debuted in a Combo Kitchen franchisee restaurant in Miami on April 10. Combo Kitchen said it has 14 agreements signed for the Woworks concepts and expects them to grow at a rate of five to seven new locations a month this year. Founded in 2020 by entrepreneur Hossein Kasmai, Miami-based Combo Kitchen invites brick-and-mortar restaurants to become franchisees and operate one or more of its concepts out of their kitchens for to-go only. The idea is to provide an additional revenue source. Its website lists about two-dozen concepts to choose from, including Dickey’s Barbecue Pit as well as small local brands such as Baya Bar and Bailey Seafood. The company said it looks for established brands to add to its roster rather than virtual brands, and gives them the opportunity to grow quickly. “Saladworks and Frutta Bowls can experience exponential growth while Combo Kitchen handles all franchise sales, royalty collections, and other operational responsibilities,” Kasmai said in a statement. Woworks was formed last year as an umbrella company for fast-casual Saladworks and the recently acquired Frutta Bowls and Garbanzo Mediterranean Fresh concepts. It has since added the Simple Greek to the fold. After dealing with sales and unit count declines in 2019, Saladworks is firmly in growth mode, having added 40 locations in the past year. About 80% of those are in ghost kitchens, food trucks or nontraditional locations like hospitals, Woworks said. The company is among a few that are using ghost kitchens to grow quickly. Just yesterday, Nathan’s Famous announced it would be opening 100 new locations with Ghost Kitchen Brands, many of them in Walmarts. – Source: Restaurant Business.

Yum Brands announces plans to reduce greenhouse gas emissions by nearly half by 2030 . . . .

The Louisville, Ky.-Based Restaurant Holdings Company also Plans to Achieve net Zero Emissions by 2050

Yum Brands announced Monday the company’s plans to reduce greenhouse gases by 46% by the year 2030, along with achieving net-zero greenhouse gas emissions by the year 2050. The Louisville, Ky.-based parent company of Pizza Hut, KFC, Taco Bell, and The Habit Burger Grill joins other restaurant chains in outlining sustainability goals (or celebrating achieving them) in 2021, including Dunkin’s, Wendy’s, and Chipotle, and which will also be tying executive compensation to improving environmental transparency. These new initiatives from Yum are part of the company’s larger goal to address climate change. “Climate change is one of the top priorities of our Recipe for Good strategy, and we’re investing significantly in sustainable growth to address this issue by working closely with our brands, franchisees, and suppliers,” David Gibbs, Yum Brands CEO, said in a statement. “We believe in the collective power of Yum! and our brands to make a positive impact, and that holds true when it comes to creating a healthier future for our customers, communities, and the environment.”

Yum Brands’ efforts in this initiative include:

KFC investing in green buildings in Malaysia, South Africa, and the U.K., which has resulted in 18% energy savings in Malaysia;

Moving 1,000 restaurants around the world (including Australia) to renewable energy resources by the end of 2021; and

Joining the Renewable Energy Buyers Alliance.

“Our new climate commitments set Yum on an accelerated path when it comes to reducing our carbon footprint and bringing forward sustainable solutions to address climate change for our global system and the broader restaurant industry,” Jon Hixson, Yum’s global chief sustainability officer and vice president of government affairs said in a statement. “Our primary focus on this journey is to find innovative and cost-effective measures for restaurants and the supply chain that enable sustainability goals.” In December, the Carbon Disclosure Project gave the company an A- in climate and water sustainability metrics. Yum plans to regularly report on the progress of its environmental goals. Source: NRN.

Chipotle also plans to release another plant-based protein by the end of 2021, according to the newly released sustainability report . . . .

Chipotle Mexican Grill is now 51% waste-free

Chipotle Mexican Grill has diverted 51% of its waste through recycling, composting and waste-to-energy programs, according to the fast-casual chain’s 2020 sustainability report released Thursday. This third annual report details Chipotle’s sustainability goals, impact, and progress made in its environmental initiatives. For example, diverting more than half of their waste meets a goal originally outlined in the inaugural 2018 sustainability report. “The events of this past year have shifted consumer behavior to lean towards a community-focused society,” Chipotle CEO and Chairman Brian Niccol said in a letter published in the report. “This has further ignited a passion inside of many for making purchasing decisions that drive the difference in the world around them. Greater awareness of where food comes from and how it’s grown can have an impact far larger than Chipotle.” In addition to recycling and composting, the Newport Beach, Calif.-based chain has also found new uses for waste byproducts, like their program that turns used plastic gloves into garbage bags and their Avocado Dye apparel line dyed with avocado pits that would normally be discarded. Some of Chipotle’s sustainability goals met over the past year include increasing the total pounds of produce purchased from local farmers from 31 million to 37 million and committing $5 million to support young farmers over the next five years. Last month, the company also announced that they would be tying executive compensation to meeting larger corporate goals, including sustainability. But Chipotle still has more work to do moving forward. Over the next year, they plan to pilot at least one new plant-based protein by the end of 2021, in addition to their sofritas, and achieve 100% third-party humane certification for their chicken. “Keeping half of all the waste we produce out of the landfill is an extraordinary achievement, particularly for an organization of our scale,” Caitlin Leibert, Chipotle’s head of sustainability said in a statement. “We are dedicated to doing the work it takes to be a leader in this space and passionate about continuously innovating solutions to some of the biggest challenges of our time.” In terms of environmental achievements, Chipotle has set up a composting program at one-quarter of their restaurants and expanded the globe-to-trash bag program to more restaurants. Moving forward, they hope to increase waste reduction by a further 5% by 2025 and pilot at least one new packaging design that reduces plastic in 2021. Of course, recycling and composting programs have been challenged with over-capacity problems for years: an estimated 92% of plastic waste is never actually recycled and it’s all too easy for the wrong item thrown into a recycling bin to contaminate the entire bin. Composting facilities also rarely take packaging, which is a significant aspect of restaurant waste products. The result: a federal bill that was introduced last year to overhaul the recycling system and fix these issues. Chipotle understands the challenges with the current recycling and composting infrastructure in the United States and has worked on staying ahead of the curve in the industry: “With more than 2,700 restaurants, we are constantly monitoring shifts in waste management and regulation,” Leibert told Nation’s Restaurant News. “Part of how we mitigate issues is having a strong relationship with our waste management partners. Secondly, because of our scale and uniformity of operations, we are able to offer a steady, clean, and consistent stream of waste. This helps haulers tremendously and can make us a more favorable partner. We have seen fewer issues with competition and more with haulers no longer accepting certain materials like glass as a result of global shifts in the recycling market.” – Source: NRN.

Four salads and new dressings will be added to the chain’s almost 500 locations . . . .

MOD Pizza Introduces new Salad Menu Nationwide

MOD Pizza announced it would be launching a full line of customizable salads at all 490 units of the fast-casual pizza chain. A lineup of four pre-designed salads — Caesar, Garden, Greek and Italian Chop — along with four newly-designed dressings — Caesar, Sherry Dijon, Greek Herb Tahini, and Zesty Roma —  will be added to the chain’s lineup. “We’ve spent over a year thoughtfully sourcing ingredients and tasting dozens of recipes to land just the right combination of flavors for our new salad menu,” said John Taylor, director of culinary for MOD, in a statement. “As we tested the salads in several of our key markets, the response from our customers was overwhelming, with nine out of 10 saying they’d be likely to reorder one of our new salads again. Best of all, we’re remaining true to our key value proposition — our new salads are completely customizable — and always one price, unlimited toppings. We think it’s unique to the salad segment and the perfect complement to our tasty pizzas.” The four salads will be added to the menu and prepared like the pizzas — right in front of the guest. Similar to the Seattle-based chain’s pizzas, customers can follow the designed meals on the menu or create their own salad from scratch. As displayed on the menu, here are the new salads:

Caesar: Crisp romaine hand-tossed with Caesar dressing topped with grated parmesan, shredded asiago cheese, and fresh-diced tomato and finished with crunchy croutons.

Garden: Tender mixed greens and crisp romaine hand-tossed with Sherry Dijon vinaigrette and topped with fresh diced tomato and cucumber.

Greek: Crisp romaine hand-tossed with Greek Herb & Tahini vinaigrette, topped with creamy feta cheese, fresh red onion, sliced black olives, sweet and zesty peppers, fresh diced tomato, cucumber, and tender chickpeas.

Italian Chop: Fresh Arugula and crisp romaine hand-tossed with Zesty Roma Dressing, topped with creamy mozzarella, grated parmesan, sliced Salami, fresh red onion, sliced black olives, fresh diced green bell pepper, and chickpeas.

The dressings, which are also new to MOD, are Caesar: parmesan cheese, anchovy, red wine vinegar, soybean oil, garlic, lemon juice and white wine; Sherry Dijon: wine vinegar, soybean oil, whole grain mustard, garlic, shallots, tomato, a touch of salt, and seasoned with blue agave; Greek Herb Tahini: prosecco wine vinegar, soybean and extra virgin olive oils, garlic, onion, shallots, tahini, seasoned with blue agave; and Zesty Roma:  balsamic vinegar, soybean and extra virgin olive oils, lemon, garlic, shallots, tomato, chipotles in adobo and seasoned with blue agave. All except the Caesar dressing are free of dairy, gluten or animal by-products.   To celebrate the launch, from May 3 through May 7, customers who purchase a salad using the MOD app or online will be entered to win a “Golden Fork,” which unlocks free salad for a year at the chain. There will be 100 winners. Source: NRN.

The five CEOs vying for the honor this year are Jose Cil of Restaurant Brands International, David Deno of Bloomin’ Brands, Rob Lynch of Papa John’s, Charlie Morrison of Wingstop, and Todd Penegor of Wendy’s . . . .

Nominees Announced for the Restaurant Leader of the Year

Extraordinary leadership during a historic economic and social crisis has earned five restaurant CEOs a nomination for the industry’s top honor, Restaurant Business’ Restaurant Leader of the Year. The nominees for the 2021 award are Jose Cil, CEO of Burger King and Popeyes parent Restaurant Brands International; David Deno, CEO of Outback and Carrabba’s parent Bloomin’ Brands; Rob Lynch, CEO of Papa John’s; Charlie Morrison, CEO of Wingstop; and Todd Penegor, CEO of Wendy’s. One of the five will be selected by the editors of Restaurant Business as the 2021 Restaurant Leader of the Year. That individual will be announced in June. The five nominees will participate in an online panel discussion on May 25 in collaboration with the National Restaurant Association Show. The Show to Go provides more details on this event and other upcoming and on-demand content. In addition, the winner will be celebrated during Restaurant Business’ Restaurant Leadership Conference in Scottsdale, Ariz., Dec. 6-9. The nominees for this year’s award were chosen on the basis of their respective charge’s financial performance and culture, as well as for their character and the example they set in leading their organizations through a nightmarish time with no precedent. “There wasn’t any manual they could off a shelf to guide their brands through the pandemic,” said Jonathan Maze, editor in chief of Restaurant Business. “Each of our nominees had to come up with a strategy on the fly to cope with a business situation no one could have imagined 15 months ago. It was the ultimate test of their guts, brains, and leadership skills.” Past Restaurant Leaders of the Year have included Brian Niccol, CEO of Chipotle Mexican Grill; Greg Creed, then CEO of Taco Bell and KFC parent Yum Brands; Ron Shaich, CEO at the time of Panera Bread; Paul Brown, CEO of what is now Inspire Brands; Greg Flynn, president of the multi-brand franchisee Flynn Restaurant Group; and Danny Meyer, founder and chairman of Shake Shack and New York City’s Union Square Hospitality fine-dining group. This year’s process for selecting the Restaurant Leader of the Year differs from the method used in the past. As in those prior years, the editors of Restaurant Business first debated which restaurant leaders merited consideration for Restaurant Leader of the Year honors. That list was successively whittled down with spirited discussions of the candidates and the leadership they showed. Because limited-service operations had an advantage over their full-service counterparts when the industry was forced to rely solely on takeout and delivery, comparisons proved difficult. The staff decided to narrow the field to five finalists, chosen from across all industry segments, and to invite readers and a select panel of industry VIPs to weigh in with their choices.  That process will begin next week after profiles of all five are posted sequentially on RestaurantBusinessOnline.com. “We’ve improved the process to ensure we’re picking the best of the best—no easy task when you’re dealing with nominees of this caliber and judging their performance during an unprecedented challenge that’s not fully over,” Maze said. Look for detailed information and cast your vote via email next week. – Source: Restaurant Business.

The deal adds to Middleby’s wide array of commercial kitchen equipment and technology . . . .

Equipment Giant Middleby to Buy Welbilt for 2.9B

Foodservice equipment manufacturer Middleby Corp. is acquiring smaller competitor Welbilt for $2.9 billion, adding to its wide array of equipment and technology for commercial kitchens. The deal will combine the companies’ “distinct but complementary portfolios” and help expand Middleby’s global footprint, the companies said in a statement. It also advances Middleby’s investments in newer technologies such as connected kitchen equipment. Middleby CEO Timothy FitzGerald called the deal a “milestone event” for the commercial foodservice industry. “The acquisition of Welbilt is a transformational opportunity for Middleby and a compelling combination that will benefit all of our stakeholders,” he said. Publicly traded Middleby has a history of acquisitions, with 20 under its belt since 2018 alone. Together, the companies generated approximately $3.7 billion in 2020 sales, 73% of which were from the commercial foodservice segment. Middleby brands include Bakers Pride, Turbochef, and MagiKitch’n, among dozens of others. Welbilt’s portfolio includes Cleveland, Frymaster, and Manitowoc Ice as well as the KitchenCare, FitKitchen, and KitchenConnect service lines. Source: Restaurant Business.

US Economy Accelerated at a Robust 6.4% Rate Last Quarter

The government also said Thursday that the number of Americans seeking unemployment aid reached a new pandemic low last week. Though layoffs remain elevated, they are steadily easing as the economy more fully reopens. All told, the latest figures point to a remarkably fast recovery from the devastating recession that ripped through the economy last year on the heels of the coronavirus and cost tens of millions of Americans their jobs. Economists say that widespread vaccinations, the reopening of more businesses, a huge infusion of federal spending, and healthy job gains should help sustain steady growth. For 2021 as a whole, they expect the economy to expand close to 7%, which would mark the fastest calendar-year growth since 1984. A major reason for the brightening expectations is the record-level spending that is poised to flow into the economy. A $1.9 trillion package that President Joe Biden got through Congress in March provided, among other rescue aid, $1,400 stimulus payments to most adults. On top of that, Biden is proposing two additional huge spending plans: a $2.3 trillion infrastructure package and a $1.8 trillion investment in children, families, and education that the president promoted Wednesday night in his first address to a joint session of Congress. The Federal Reserve’s ultra-low interest-rate policy, which is intended to encourage borrowing and spending, has provided significant support, too. In fact, the economy is expected to expand so fast that some economists have raised concerns that it could ignite inflation. In part, this is because stronger demand has caused supply bottlenecks and shortages of some goods and components, notably semiconductors, which are critical to the auto, technology, and medical device industries, among others. At a news conference Wednesday after the Fed’s latest policy meeting, though, Chair Jerome Powell reiterated his confidence that any surge in inflation would prove temporary. And he said the Fed wants to see a substantial and sustained recovery before it would consider withdrawing its economic support. In the meantime, Powell made clear, the central bank isn’t even close to beginning a pullback in its ultra-low rate policies. The strength of the rebounding U.S. economy has been particularly striking given the scope of damage the pandemic inflicted on it beginning in March of last year. With businesses all but shut down, the economy contracted at a record annual pace of 31% in the April-June quarter of last year before rebounding sharply in the subsequent months. “The economy is on fire,” Sung Won Sohn, a finance and economics professor at Loyola Marymount University, said before Thursday’s GDP report was released. “It is being fueled by the vaccine, which is the best economic stimulus we have, plus massive government spending.” In recent weeks, the economic gains have become increasingly evident. In March, U.S. employers added 916,000 jobs — the biggest burst of hiring since August. At the same time, the pace of layoffs has dwindled, retail spending has surged, manufacturing output is up and consumer confidence has reached its highest point since the pandemic began. Thursday’s GDP report showed that consumer spending, which accounts for more than two-thirds of the economy, surged at a 10.7% annual rate in the January-March quarter, a significant acceleration after spending had slowed to a 2.3% annual gain in the final three months of last year. Business investment rose at a strong annual rate of nearly 10%, reflecting a burst of spending on equipment. The residential sector, which has been a standout performer in the last year thanks to ultra-low mortgage rates, grew at a roughly 11% annual rate in the first quarter, still solid but down from the fourth quarter. Last quarter, government spending grew at a 6.3% annual rate after two straight declines that had reflected weakness at the state and local level as the pandemic recession shrank tax revenue. Businesses did slow their pace of inventory restocking in the January-March quarter, which shaved 2.6 percentage points from the quarter’s growth. And a rising trade deficit diminished growth by 0.8 percentage point. Mark Zandi, the chief economist at Moody’s Analytics, said before Thursday’s GDP report was released that all signs point to an economic boom this year, fueled by heavy government support and a flood of pent-up consumer demand as the economy further reopens. “This should be a gangbuster year,” Zandi said. “I have been forecasting the economy for almost 30 years, and I can’t remember a time when I have been as confident as I am today.” – Source: (AP).

This story is breaking and being updated . . . .

McDonald’s Sales Rebound to pre-COVID Levels in Q1, Earnings top Wall Street Estimates

McDonald’s reported fiscal first-quarter earnings that topped Wall Street’s expectations, with the fast-food giant posting sales that rebounded to pre-COVID levels amid the battle of chicken sandwiches, and the industry’s growing digital shift.

Here’s what the Golden Arches reported, compared to Wall Street’s expectations, according to a Bloomberg consensus estimate:

Revenue: $5.12 billion versus $5.03 billion expected

Adj. earnings per share (EPS): $1.92 versus $1.81 expected

U.S. same-store sales: 13.6% versus 9.23% expected

Global same-store sales: 7.5% versus 4.94% expected

McDonald’s president and CEO Chris Kempczinski touted the company’s rebound, pointing out that sales hit their highest levels in at least two years, even as COVID-19 restrictions persist globally.

“Our teams around the world are focused on executing our Accelerating the Arches strategy at the highest level,” an initiative focused on doubling down on digital, drive-thru and delivery,” he said in a statement. In the U.S., comparable sales benefitted from the uptick in the average check size, growth in delivery and digital, and national menu and marketing offerings. The outlook for 2021 is also fairly bright, with McDonald’s expecting to spend over $1 billion dollars in the United States — allocating $500 million to modernize over 1,200 restaurants. Worldwide, the Golden Arches also plans to open more than 1,300 restaurants. Although the company plans to shutter 325 U.S. locations, most of them in Walmart outlets, McDonald’s expects around 650 net restaurant additions this year. The fast-food giant raised its systemwide sales growth outlook for 2021 from low double digits to the mid-teens and expects restaurant expansion to contribute to 1 percent of that 2021 systemwide sales growth.

Menu updates everywhere

McDonald’s has had a busy quarter featuring a flurry of new initiatives, including its foray into the chicken sandwich wars. And like other fast-food giants, the company is positioning itself for life after coronavirus lockdowns by using digital app deals to spur loyalty — especially as indoor dining remains restricted. “There may not be a brand better positioned to enjoy the unique post-COVID environment than McDonald’s,” Placer.ai wrote in a new report. The foot traffic analytics firm found that the fast-food chain’s weekly visits in 2021 during March and early April had fallen versus a year ago, but were still “far better than January and February respectively.” During those months, visits were down over 30 percent each week on average. However, breakfast —a “big piece of the brand’s puzzle,” according to Placer.ai — has taken a hit. Americans are slowly returning to the office as mass vaccination efforts pick up speed, but there seems to be a glimpse of hope among fellow fast-casual restaurant leaders like Starbucks, and others. “Visits in the mornings are still down from the 8.1% seen in April 2019, when compared with the same periods in 2020 and 2021, Ethan Chernofsky, VP Marketing at Placer.ai noted in the blog post. “This number is trending back to normalcy, indicating that the return of routines is taking place.” However, McDonald’s digital deals are a linchpin for the company to lure in foot traffic. On Tuesday, the company announced plans for a free McFlurry on the app on May 4th “for anyone who has ever mistaken the McFlurry spoon for a straw.” In a recent note from Wells Fargo, analysts acknowledged the uptick of interest on the app, mostly associated with the debut of its new crispy chicken sandwich. “New product news, particularly at McDonald’s, was enough to keep aggregate weekly app usage above fourth-quarter levels,” the bank noted. “Deal activity ramped as it launched the new chicken sandwich platform nationally on February 24th, demonstrating the brand’s multi-pronged approach to marketing and its ability to draw in more customers to its digital platform using new products ahead of the brand’s national loyalty launch in the second half of 2021,” it added. John Ivankoe of J.P. Morgan, which remains “Overweight” the stock, called the Golden Arches a “a long-term core holding in the restaurant space for relatively low risk and solid absolute return,” in a recent note. Shares of McDonald’s, which closed lower on Wednesday at $232.41 per share, dipped modestly in pre-market action on Thursday. – Source: Yahoo Finance.

Spaceman USA to Acquire Food Equipment IoT Tech Startup BDE Innovation.

Forte Supply LLC, the Parent company of Spaceman USA, and BDE Innovation have entered into a definitive agreement under which Spaceman USA will acquire BDE Innovation, enhancing the Spaceman USA equipment platform with a portfolio of IoT and dispensing technologies.  This transaction brings technology enhancements as well as Marcus Buscemi Jr., CEO of BDE Innovation to Spaceman USA as Director of Eastern Sales & Key Accounts. Marcus Buscemi, Jr. has over five years’ experience within the foodservice equipment industry including time spent at Lancer and Micro Matic. In his new role, Buscemi Jr. will oversee Spaceman USA’s eastern region and key accounts throughout the country. Spaceman USA is dedicated to product reliability and manufacturing the highest quality, easiest to use the soft serve and frozen beverage machines in the world.

 

From Chicken Wings to Mother’s Day Flowers, Here are the Shortages you Need to Know About – Plus a Few Gluts

The coronavirus pandemic has snarled global supply chains and scrambled supply and demand forecasting for manufacturers across all sorts of industries, from electronics to lumber to poultry. Factory closures, shipping delays, and logistics challenges, coupled with major changes in consumption patterns thanks to lockdowns, capacity and travel restrictions and fear, have created a series of shortages and gluts in the global economy. In many cases mismatches of supply and demand have driven up prices, sparking inflation fears. Here’s what we’re short on.

Semiconductors 

The essential computer chips used in a broad swath of electronic devices from cars to smartphones have been scarce for months thanks to supply chain issues caused by the pandemic. First, factory shutdowns in Asia delayed the production of the chips. Then, a huge pandemic-induced surge in consumer demand for electronics was more than the chipmakers could handle. The effects of the shortage are bleeding into other industries: some North American automakers have been forced to slow or halt production because they don’t have the chips they need. And the industry isn’t out of the woods yet: “The semiconductor shortage and the impact to production will get worse before it gets better,” Ford CEO Jim Farley said during an earnings call last month.

Chicken 

Consumer demand for chicken during the pandemic and supply chain pressures have sent poultry prices soaring this spring. Suppliers are struggling to hire enough workers, and the chicken sandwiches wars “between fast-food restaurants have also sent demand soaring. Now, national restaurant chains like KFC, Bojangles, and Buffalo Wild Wings, as well as independent bars and restaurants are all struggling to meet the demand for wings and other chicken products.

Lumber

The lumber supply chain is showing cracks under the weight of production slowdowns in the early days of the pandemic, a homebuilding boom in the United States and a pine beetle infestation in Canadian forests. Prices have tripled since early 2020 and are still rising. New homes cost nearly $36,000 more on average as a result, according to an analysis by the National Association of Home Builders.

Homebuilders

Demand for new homes is booming, but the supply of skilled builders is lagging behind, the Wall Street Journal reported last month. There are far fewer builders operating now in the United States than there were before the housing bubble burst in 2008, and according to the Journal, the shortage means that soaring home prices aren’t likely to fall any time soon.

 Single serve ketchup packets

As in-restaurant diners turned to take-out during lockdowns last year, individual ketchup packets became a hot commodity. The Wall Street Journal reported last month that restaurants are scrambling to stock up amid a national shortage of single-serving versions of the condiment. But it’s not all bad news: Kraft Heinz U.S. Zone president Carlos Abrams-Rivera told Yahoo Finance that he expects the company to be “fully supplied” to meet demand this summer after hiring more workers in its factories.

Used cars 

Production slowdowns (some caused by that severe semiconductor shortage) have contributed to a shortage of new vehicles. That shortage, combined with pandemic-driven changes to consumer habits (for example, mass transit use fell dramatically) means that consumers are clamoring for used cars, too. Prices for used vehicles at wholesale auctions were up 52% in mid-April from the same time a year ago, according to data from Cox Automotive.

The shortage even extends to the rental car market: companies like Hertz and Enterprise are buying up used vehicles since the supply of the new cars they usually purchase is so low.

Nurses

The demands put on the healthcare system and frontline healthcare workers during the Covid-19 crisis are exacerbating what was already a looming shortage of registered nurses. In addition to high levels of stress and burnout in the early days of the pandemic, U.S. nurses were forced to grapple with shortages of vital personal protective equipment. According to a KFF/Washington Post survey released last month, 27% of nurses and doctors have considered leaving healthcare as a result of the pandemic. The American Association of Colleges of Nursing says the longer-term shortage is the result of retirements by the aging nursing workforce, combined with a growing demand for nursing as the Baby Boomers require more care.

Babies

Data released last month by the U. S. Census Bureau showed that the United States’ population is growing at the slowest rate since the Great Depression thanks to the longer-term trends of lower fertility rates, lower immigration rates, and an aging population that pre-date the pandemic. But data released this week by the Centers for Disease Control and Prevention showed that the birth rate in 2020 dropped further to a record low, though the agency did not directly attribute the decline to the pandemic.

Pipette tips

Scientists and researchers across the country are grappling with a shortage of pipette tips—a tiny piece of lab equipment that’s essential for a huge variety of medical tests and research experiments—according to a recent report by Stat News. The shortage is due in part to a surge in demand caused by the Covid-19 pandemic, Stat reported, but it’s been worsened by production slowdowns caused by the recent winter storms in Texas and a fire at a manufacturing plant.

Flowers

Farmers planted fewer flowers last year after a season of dramatically reduced demand during the early days of the pandemic, but now demand is roaring back and flowers are in short supply thanks to cold weather, shortages of workers in some places, and other supply chain issues. That means a Mother’s Day bouquet might be more expensive this year, though of course there are plenty of other Mother’s Day gifts that aren’t subject to the same supply constraints.

Boba tea

Boba tea—a popular drink often featuring pearls of chewy tapioca that originated in Taiwan—might be hard to find this summer. NPR reported last month that issues with shipping and logistics in American ports are contributing to a global shortage of pearls.

Truck drivers

A shortage of qualified fuel truck drivers—many of whom left the industry when the country shut down at the beginning of the pandemic—has worsened as the economy reopens and Americans begin to travel again. Some have suggested that the shortage could spell trouble for gas stations this summer since the scarcity of truck drivers means that fuel might be delayed in reaching its final destination.

Chlorine 

Stay-at-home orders and travel restrictions have many Americans turning their eyes to their own backyards for fun this summer. Booming demand for swimming pools during the pandemic—plus a major fire at a plant in Louisiana last year—means that chlorine, the essential chemical for keeping pools clean and safe, is in short supply, CNBC reported.

But not everything is in short supply. Here’s what we have too much of.

Toilet paper

A scramble for toilet paper and other household essentials during the early days of the pandemic last spring left shelves bare as Americans stocked up. Many continued to stock up as lockdowns wore on, and those stockpiles still remain even though lockdowns are easing, the economy is reopening and life is in many ways returning to normal.

Hand sanitizer 

Bottles of hand sanitizer were also in short supply last spring as consumers, prompting manufacturers to ramp up production and spurring producers in other industries to launch their own products. But as the pandemic abates, demand has slowed significantly and companies like CVS are even beginning to donate their excess supply, USA Today reported last month.

Nursing home beds 

The pandemic has also prompted many American families to reconsider putting their loved ones in nursing homes, which were the center of so many deadly outbreaks of Covid-19 last year. As of February, the occupancy rate for skilled nursing facilities was 71%—nearly 14% percent below its pre-pandemic levels, according to data published by the National Investment Center for Seniors Housing & Care (NIC). The occupancy rate for senior housing (that includes both assisted and independent living properties) fell to 78.8% in the first quarter, the lowest level since the NIC began reporting data in 2005, the group says. Meanwhile, a new NORC study shows Americans want the government to help them age at home.

Office space

Whether or not the work-from-home era is here to stay, demand for office space has shrunk over the past year. The office vacancy rate in Manhattan now stands at 16.3%, its highest level since 1994, according to real estate firm Cushman & Wakefield. That’s good news for companies looking to rent: landlords are slashing prices to remain competitive

Realtors

While homes and home builders are in short supply, realtors are not. A recent working paper by economists Sonia Gilbukh and Paul Goldsmith-Pinkham found that the inexperienced agents who flood the market during housing booms have a lower probability of making a successful sale.  – Source: Forbes.

After 100 years in business, Lisa Ingram is focusing on employee satisfaction first . . . .

How the CEO of White Castle is Making the Work Environment Inclusive

White Castle celebrates 100 years in business this year, but its CEO Lisa Ingram is not looking back, only forward. After a year of closed dining rooms and social unrest, Ingram is making sure the quick-service burger chain is in line with the times. Part of that was ensuring that her employees felt represented during the Black Lives Matter protests over the past year and that their voices are heard at the company. According to Ingram, 81% of the company’s general managers are women and 44% are people of color. “As a white woman, it’s challenging for me to say the right thing so I wanted to make sure, since we have so many diverse leaders, that they got the opportunity to talk and share their story about what racism has meant to them, how it’s impacted them and how we can do more,” Ingram said. One-step White Castle took in 2021 was a new uniform collection the brand designed in partnership with Telfar that had drugs for employees — a first for the company — after receiving employee requests. “We’re not going to undo 400 years of social injustice if we don’t try to make it better even in our own worlds.” – Source: NRN.

The chef, restaurateur and humanitarian is offering a $50 gift certificate for some of his Washington, D.C. restaurants with proof of vaccination . . . .

Jose Andres Wants You to Get Vaccinated

Jose Andres—the noted chef, restaurateur, and humanitarian—wants you to get your COVID shot. Andres, whose current Twitter name is “Please wear a mask! Do it for the World please …” announced on the social media platform Friday that his restaurant group would give a $50 gift certificate for any of his Washington, D.C. ThinkFoodGroup establishments, with proof of vaccination. “Ok!,” Andres wrote on Twitter. “We want everyone vaccinated!” The offer is good until 70% of the U.S. population is vaccinated, Andres said. Currently, 45% of the total U.S. population has received at least one dose of a COVID vaccine and 32.8% are fully vaccinated, according to the CDC. Of those older than 65, just over 70% are fully vaccinated, the CDC said. A ThinkFoodGroup spokesperson clarified Andres’ offer Friday, saying that it is only good for those who get vaccinated after Saturday and that the offer is good at Jaleo DC, Jaleo Crystal City, Oyamel, Zaytinya, and China Chilcano—not all of ThinkFoodGroup’s Washington D.C. locations. The $50 gift card, which can only be redeemed once, must be used 30 days after receiving it. ThinkFoodGroup runs a large number of concepts in Washington, D.C., including two Michelin-starred Minibar, Butterfly Tacos y Tortas, Zaytinya, Oyamel, Beefsteak, Jaleo, Barmini, and China Chilcano. Combatting vaccine hesitancy has been a major recent focus of government officials, who’ve said the U.S. cannot achieve herd immunity until those who are resistant step up and get inoculated. Last Month, the Biden administration announced a business tax credit to offset the cost of paid leave for employees to get their COVID vaccinations. A number of chains and independents have offered up incentives to get their workers vaccinated, including paid time off and cash bonuses. In January, Chicago bar Village Tap began offering $10 gift cards, up to $10,000 worth of them, to any customer who could present proof of a COVID vaccination. – Source: Restaurant Business.

Krispy Kreme files IPO Paperwork . . . .

Krispy Kreme is Preparing to go Public

The doughnut company said on Tuesday that it has confidentially filed paperwork related to a public offering of its stock with the Securities and Exchange Commission. The number of shares that will be offered and their price range has not been determined, the company said, adding that the IPO is expected to happen after the SEC completes its review. The company has been working to remodel its stores in recent years and has also opened lavish locations showcasing its sugary treats. Over the summer, Krispy Kreme opened a 4,500 – square – foot – location in New York City’s Times Square with a glaze waterfall, a 24-hour street-side pickup window, exclusive merchandise, and a doughnut-making theater that produces 4,560 doughnuts an hour. Krispy Kreme has been opening new locations in the city. In March, the company made a splash when it announced that customers who have been vaccinated against Covid-19 can get a free doughnut each day through the end of the year. Krispy Kreme has been private since 2016 when it was purchased by JAB Holding Company, a private firm that invests in food and beverage brands. It had previously gone public in 2000 and had some difficult years before the 2016 acquisition. Late last year, Krispy Kreme’s competitor Dunkin’ made a move in the opposite direction. Inspire Brands, a holding company that owns fast-food restaurants, announced in October its purchase of Dunkin, taking the and private in an $11.3 billion deal. – Source: CNN Business.

Chipotle Mexican Grill now has a path for general managers to reach $100,000 a year in three years; store-level wages will range from $11-$18 per hour . . . .

Chipotle Increases Average Wages to $15 an Hour; Announces Six-Figure General Manager Salaries

Chipotle Mexican Grill announced Monday that the company would be raising its hourly wages to an average of $15 an hour by the end of June, ranging from $11-$18 per hour for store-level employees. The Newport Beach, Calif.-based fast-casual chain is also adding a path to a restaurateur position (the highest level of general manager salary) for an average salary of $100,000 in as little as three and a half years. “Chipotle is committed to providing industry-leading benefits and accelerated growth opportunities, and we hope to attract even more talent by showcasing the potential income that can be achieved in a few short years,” Marissa Andrada, chief diversity, inclusion, and people officer at Chipotle said in a statement. “We’re looking for people who are authentic, passionate, and want to help cultivate a better world through real food and real personal development.” In comparison, according to the company’s proxy statement released in April, CEO Brian Niccol made $38 million in 2020, approximately 2,898 times more than the median Chipotle employee. The median Chipotle employee is defined in the proxy statement as “an hourly part-time employee who works roughly 25 hours per week at one of their restaurants in Illinois” and makes $13,127 per year or approximately $10 per hour. In addition to these wage increases, Chipotle is also introducing a $200 referral bonus for store-level employees and a $750 referral bonus for general managers. All of these announcements coincide with Chipotle’s spending spree as the company looks to open 200 more stores and add 20,000 team members. This is the second announcement Chipotle has made in two months regarding employee salary and benefits: in April, the fast-casual chain announced that it would begin offering debt-free college degrees for employees in related fields including agriculture, culinary, supply chain, and hospitality. Of course, Chipotle is not the first or only major restaurant chain to offer six-figure salaries for general managers. In March, Whataburger announced that their general manager position would be enhanced to an “operating partner” with a six-figure salary and bonus potential of 150% of their target incentive. In January 2020, Taco Bell announced that the quick-service chain would begin testing out six-figure manager salaries and In-N-Out has long been ahead of the industry standard, with store managers earning on average $160,000 a year since 2018. Chipotle will also have its first virtual career fair on May 13, from 10 AM to 1 PM PT (1-4 PM ET) on the company’s Discord server. – Source: NRN.

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