On this week’s Extra Serving, NRN editor in chief Sam Oches and executive editor Alicia Kelso discuss the latest restaurant industry news, including Cheesecake Factory’s big results and bright spotlight, three chains that smashed the third quarter out of the park, and two shareholders’ attempted takeover of Wendy’s.
First up is Cheesecake Factory, which unexpectedly found itself at the center of controversy last week after former President Obama made comments comparing the chain unfavorably to changes that President Trump has made to the White House. This came right after the casual-dining chain announced a record-setting third quarter that included 15% sales gains. Sam and Alicia dive into both headlines and why Cheesecake Factory is in a good position no matter how the controversy shakes out.
Next is a review of the other companies that reported third-quarter earnings last week, including three chains that soared (Chili’s, Burger King, Starbucks), two that did OK (Chipotle, Jersey Mike’s), and two that continued to struggle (Popeyes, Wingstop). Sam and Alicia dive into the results and what they mean for each individual company and the industry at large.
They next turn their attention to Wendy’s, where two shareholders — former chairman Nelson Peltz and franchisee Greg Flynn — have made an offer to acquire the company for $1.4 billion. Then they discuss DoorDash, which acquired Instacart for $17 billion. This comes after a string of moves among third-party players, including DoorDash’s own acquisition of ezCater and its investment in Wonder. Sam and Alicia break down the acquisition and why it could be bad news for restaurant operators.
Finally, they close the episode with a Quick Fire round of headlines, including news about McDonald’s ending its relationship with FIFA, Dine Brands adopting a poison pill, and Bojangles opening a full-service bar.
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