Chipotle turned in its third quarter of positive transactions in Q3. The company’s same-store sales rose 2.1% while transactions were up 0.8%. Total revenue increased nearly 10% as the company added 84 new restaurants. CEO Scott Boatwright said these results prove the company is gaining traction with its Recipe for Growth strategy put into place shortly after he was named to that position in late 2024. During the quarter, the company continued rolling out its high-efficiency equipment package to increase throughput, and introduced two limited-time offers simultaneously for the first time.
Burger King is on a roll. The fast-food chain’s same-store sales rose 8.4% in the U.S. last quarter, driven by strong sales of the company’s upgraded chicken nuggets and its kids meals, in particular a collaboration with the anime series Dragon Ball Z. But sibling chain Popeyes same-store sales declined 2.2% in the U.S. as the chicken chain cut back its chicken wings to focus on sandwiches, tenders and its bone-in chicken.
Dine Brands Global has swallowed a poison pill. The owner of Applebee’s, IHOP, and Fuzzy’s Taco Shop has approved a shareholder rights plan, which would give shareholders the ability to buy additional shares at half price if someone amasses more than 20% of the company’s shares, or 10% if that buyer is an activist investor. That comes amid reports that investment firms Cobblers Cove and Arkhouse Management are trying to buy the company at $39 per share.
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