Global Foodservice News
Carl’s Jr., Hardee’s Parent Hires two New Execs
Two foodservice veterans are joining CKE Restaurant Holdings, Inc., the parent company of Carl’s Jr. and Hardee’s. Lance Tucker has been named chief financial officer, and Phil Crawford has been appointed chief technology officer. “We are excited to build on the strength of our current management team with the addition of these two exceptional hires,”…
Read MoreTGI Fridays Taps Industry vet as New CFO
Aslam Khan has been named chief executive officer of TGI Fridays. He succeeds John Antioco, who has served as interim CEO since Robert Palleschi left the company late last year. Mr. Khan is the founder and chairman of the multi-brand franchise company Falcon Holdings L.L.C., which he founded in partnership with Sentinel Capital Partners, a…
Read MoreRed Robin Taps Restaurant Industry Vet as New CFO
Lynn Schweinfurth succeeds Guy Constant, who will move to the role of executive vice-president and chief operating officer. In her new role, Ms. Schweinfurth will be responsible for leading all financial disciplines at Red Robin, including accounting, operations analysis, strategic and financial planning, treasury, investor relations, and overseeing the company’s supply chain. Ms. Schweinfurth joins…
Read MoreRestaurant Industry Continues Slow Recovery as States Reopen
As more states lifted bans on on-premises dining, transactions at major US restaurant chains continued to improve in the week ended May 17, down 21% from the prior-year period, registering a small gain from a 23% decline the week before and marking the fifth consecutive week of improvement, according to The NPD Group. Major quick-service…
Read MoreSysco Sees Restaurant Recovery Accelerating
More than 17% of restaurants closed permanently or long-term in 2020, according to the National Restaurant Association. Sysco has worked with the organization to lobby for restaurant relief and guide operators through the process of applying for aid. “We were the first to offer educational webinars to our independent customers on how they can access…
Read MoreCracker Barrel’s Revitalized Menu Marries Tradition and Innovation
Cracker Barrel’s culture is rooted in heritage, but that doesn’t mean tradition can’t be reimagined. The commitment to innovation was on full display in 2020 as the 663-unit brand released a revamped dinner menu, diversified its family meal deals, and introduced alcohol for the first time in its 51-year history. Cammie Spillyards-Schaefer, vice president of…
Read MoreRestaurants and Hotels Draw $18B in PPP Loans, the Highest in any Industry
Restaurants and hotels have landed more than $18 billion in loans under the current version of the Paycheck Protection Program (PPP), or 18% of all the dollars okayed to date, making the hospitality industry the leading borrower by a considerable margin. Data released by the U.S. Small Business Administration (SBA), the administrator of the PPP,…
Read MoreWhen Normalcy Returns, don’t Expect Customers to Shift Completely Back to in-house Dining: Delivery has Become an Essential Growth Driver
Restaurant operators say the year of pandemic-related shutdowns has changed habits and preferences. And those changing consumer trends are reshaping the industry, from the way restaurants operate, to their dependence on off-premise and the design of brick-and-mortar locations. As the COVID vaccine reaches more people and the economy settles into a new post-pandemic sense of…
Read MoreThe Reupped Legislation from the Original 2020 RESTAURANTS Act would Distribute Grants of up to $10 Million to Small Restaurants and Restaurant Groups
After Congress reintroduced the RESTAURANTS Act to provide long-term relief to restaurants as a bipartisan, bicameral effort, and the Senate separately passed the budget resolution amendment for restaurant industry relief during the week of Feb. 4, the $25 billion RESTAURANTS Act is one step closer to passing in Congress after the House Small Business Committee…
Read MoreIHOP Issues IOUs for National Pancake Day to Cut Down on Crowds During Pandemic
Today is not only Mardi Gras or Fat Tuesday; it’s also National Pancake Day when IHOP customers are normally treated to a free short stack of the family-dining chain’s buttermilk pancakes. But this year, realizing that a global pandemic is no time to invite throngs of people into its more than 1,600 restaurants looking for…
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