On this week’s Extra Serving, NRN editor in chief Sam Oches and senior editor Joanna Fantozzi discuss the latest restaurant industry news, including the impact of last week’s midterm election results plus recent quarterly earnings reports from Taco Bell, McDonald’s, Cava, Dutch Bros, Texas Roadhouse, and many more.
Sam and Joanna kick things off with details of their recent travels: Joanna attended a workshop from the Women’s Foodservice Forum in Columbus, Ohio, while Sam travelled to Cannes, France, for the Global Restaurant Leadership Conference. (Check out more information and get involved with the WFF here, then read Sam’s report on GRLC speaker Mark Blyth here.)
Next they break down the midterm election results and how the Democrats’ huge wins might affect the restaurant industry. Joanna shares her thoughts on likely Dem priorities, including immigration and healthcare reform, while Sam weighs in on how the industry could benefit from an end to the war in Iran and the tariffs that President Trump put into place against several countries.
They next turn their attention to last week’s quarterly earnings reports, which included strong quarters from BJ’s, Red Robin, and Texas Roadhouse; so-so quarters from McDonald’s, Dine Brands, First Watch, Portillo’s, and Sweetgreen; and bad quarters from Wendy’s and Papa Johns. Sam and Joanna also talk about how Taco Bell, Cava, and Dutch Bros each underwhelmed in their own ways, coming back down to earth after years of high-flying results.
Finally, they share a conversation between NRN managing editor Leigh Anne Zinsmeister and Prince Street Pizza CEO Lawrence Longo.
For more on these stories:
Cyclospora outbreak weighed heavy on Taco Bell in the third quarter
McDonald’s U.S. same-store sales decline on weak traffic
Wendy’s rejects a buyout offer from its former chairman
