Global Foodservice News
Krispy Kreme goes public with IPO filing, looking to raise $100 million
The doughnut and coffee chain will be trading on the Nasdaq under the ticker symbol, “DNUT.” The news was announced a month after Krispy Kreme initially filed a draft registration for an IPO with the U.S. Securities and Exchange Commission. The IPO will take Krispy Kreme public for the first time since the acquisition by…
Read MoreLettuce Entertain You president sees the future of restaurants as brick and mortar, not virtual
As Lettuce Entertain You Enterprises (LEYE) marks its fiftieth year in business, president RJ Melman doesn’t see any signs of slowing down. The multi-concept operator has over 150 restaurants in several states across the country ranging from fast-casual to fine-dining and, during the pandemic, brought some closed concepts back as virtual restaurants. Melman, however, does…
Read MoreStaying Nimble: Chipotle Prepares for Expansion with Multiple Formats
Perhaps more than anything else, restaurants of the future will need to be flexible in format to serve guests with varying needs. That’s according to Chipotle Mexican Grill’s Chief of Development Tabassum Zalotrawala, who shared her insights during a session on “Inside Chipotle’s Recipe for Growth,” part of the ongoing Nation’s Restaurant News digital series…
Read MoreSenate Bill Aims to Clear Path for CBD in Interstate Commerce
Bipartisan legislation introduced in the US Senate on May 19 would ensure hemp-derived CBD (cannabidiol) products are regulated by the Food and Drug Administration like other legal products used in dietary supplements, foods, and beverages. The bill, the Hemp Access and Consumer Safety Act, was sponsored by Senator Ron Wyden of Oregon, Senator Rand Paul…
Read More5 Food & Beverage Trends Accelerated, Altered or Accentuated by the Pandemic
We are living through an unprecedented time in which the pandemic has accelerated, altered, or accentuated trends in many spheres of food and beverage culture. As we move forward into the summer of 2021 — in the context of promising trends in vaccinations and states opening fully for business — many of these behavioral changes…
Read MoreMichelin Star Chef Michael Mina is Opening a New Restaurant in Seattle this Fall
The modern American steakhouse will use seasonal and regional ingredients, and all-natural, organic, hormone-free beef. Much like the other seven locations across the country, Bourbon Steak promises to bring its award-winning, creative interpretations of classic steakhouse dishes to the Emerald City. “Growing up outside of Seattle, this project is very close to home for me,”…
Read MoreRestaurant Menu Prices Continue to Rise as Labor Costs Soar
Consumers going out to restaurants are finding higher prices these days as operators charge more for their menu items in a bid to make up for rising labor costs. Menu prices, or food away from home prices, rose 0.6% between April and May, according to the latest consumer price index data from the U.S. Dept.…
Read MoreMcDonald’s making move in the mornings
New baked foods and faster drive-thrus boosted breakfast business at McDonald’s during 2020 and the first part of 2021, helping the quick-service restaurant chain turn the corner in an important daypart. In a June 2 presentation at the virtual Sanford C. Bernstein Strategic Decisions Conference, Christopher J. Kempczinski, president and chief executive officer of Chicago-based…
Read MoreJack in the Box CIO Carlson Choi Departs after about one Month
After only a little more than a month Jack in the Box Inc. chief information officer Carlson Choi has exited the company, officials said Friday. No reason for his departure was given. Darin Harris, Jack in the Box’s CEO, said in a statement that Choi and the company mutually decided to part ways. “We wish…
Read MoreCongress introduces a $60 billion replenishment of the Restaurant Revitalization Fund
Congress unveiled new legislation — the Restaurant Revitalization Fund Replenishment Act of 2021 — to replenish the depleted first round of restaurant relief. Congress introduced legislation to replenish the Restaurant Revitalization Fund with a $60 billion second round of restaurant relief after the U.S. Small Business Administration received requests for more than triple the allocated…
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