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☆ Why analysts are calling Cava the next Chipotle
▼ + stars: | 2024-09-27 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

Fast-casual Mediterranean chain Cava has had an impressive year since going public in June 2023. Now, Wall Street analysts see shades of another fast-casual success story: Chipotle Mexican Grill . In its most recent results for the second quarter of 2024, Cava bucked industry trends by posting same-store sales growth of 14.4% and traffic growth of 9.5%. Cava Group co-founder and CEO Brett Schulman has said its prices increased 15% between 2019 and 2024. "You hear a lot about the value wars lately.

Persons: Nick Setyan, Brett Schulman, Schulman, That's, Cava, Chipotle Organizations: Wall Street, Wedbush Securities, Cava Group Locations: Cava, Chipotle

☆ Engaged Capital might have the recipe to build value for shareholders at Portillo's
▼ + stars: | 2024-08-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

The company was acquired by private equity firm Berkshire Partners in 2014 from the founder for approximately $1 billion. The non-Chicago locations have achieved AUVs of $6 million to $7 million, more than double quick service restaurants and fast casual industry averages. While Portillo's has much larger AUV than its peers, the company has an even larger average footprint than peers. Closing this gap will take significant capital allocation improvements, technology initiatives, marketing plans, real estate restructurings and operational advancements. Engaged is supportive of management and expects they will recruit a strong operator into the presently vacant COO role.

Persons: Portillo's, –, Ken Squire Organizations: Berkshire Partners, Berkshire, Management, NFL, Del, Shake, 13D Locations: Berkshire, Chicago, Portillo's, That's, Del Frisco's

☆ The French have fallen in love with American fast food. Here's why
▼ + stars: | 2024-03-19 | by ( Natalie Rice | ) www.cnbc.com time to read: +4 min

In France, a land of fine dining, Michelin stars and high standards for cuisine, there's a surprising favorite: American fast food. Expilly oversaw Popeyes' 2023 arrival in France while serving as COO of Popeyes France for French restaurant group Napaqaro. Burger King specifically has gone aggressively after the market "given the propensity for American quick service foods and concepts in France," Charles said. In 2024, McDonald's and Burger King hold more than 40% of the market, according to Euromonitor International, and now consider it their biggest one outside the U.S. French QSRs did take a hit in 2020, but the industry bounced back quickly, earning more profits in 2021 than before the pandemic, according to Euromonitor International.

Persons: Xavier Expilly, EXPM, Expilly, Popeyes, Burger, McDonald's, Andrew Charles, Cowen, Charles, Burger King, Joel Tissier, haven't, Tissier Organizations: Euromonitor, CNBC, Restaurant Brands, Canadian, Mac, Créteil, KFC, Euromonitor International, BK Locations: France, Europe, American, Burger, Paris, United States

☆ Fast food isn't cheap anymore
▼ + stars: | 2023-11-27 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

McDonald's menu prices are up about 10% this year. AdvertisementInflation may be slowing, but when it comes to skyrocketing fast-food prices, the damage is done — and there's no turning back. The Bureau of Labor Statistics reported that fast-food prices in October jumped 6.2% over the past 12 months. Nancy Luna/Business InsiderMore price hikes are on the horizonChipotle recently raised menu prices by 3% in October. Some are fuming over skyrocketing fast-food prices and expressing their concern on social-media platforms such as TikTok and Reddit .

Persons: That's, Chipotle, —, Tim Powell, Mark Kalinowski, Nancy Luna, McDonald's, Kalinowski, Chris Kempczinski, @xconmedia, Ian Borden, Borden Organizations: Service, Starbucks, Labor Statistics Locations: QSRs, California, Orange , California, Connecticut

☆ Wendy's now competes with Cheerios for breakfast customers as much as it competes with other chain restaurants, its CMO says
▼ + stars: | 2023-08-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

For Wendy's, Cheerios is now as much of a rival for breakfast customers as other restaurants, its CMO says. It just reported record quarterly breakfast sales. The chain reported record quarterly US breakfast sales volumes in the quarter to July 2, with year-over-year sales growth in the mid-single digits. And Wendy's is eyeing "outsized" growth for its breakfast sales in the future, executives said at its earnings call last week. Wendy's breakfast menu includes French toast sticks, sandwiches in croissant and biscuit buns, and hot and iced coffee.

Persons: Wendy's, Carl Loredo, Josh Kobza, Tim Hortons, Todd Penegor, We're, Penegor, We've Organizations: Service, Cheerios Locations: Wall, Silicon, QSR

Wendy's will pilot its new AI drive-thru tech this month at some locations in the Columbus, Ohio, area. The hesitancy to discuss any generative AI implementation is understandable. That said, we think that generative AI opportunities at Starbucks are still worth considering. This is where we think there's a clear opportunity for margin improvement as generative AI adoption goes mainstream. There are going to be a lot of opportunities to invest in to play the adoption of generative AI outside of tech.

Persons: hasn't, WEN, Jack, JACK, we've, Todd Penegor, Jim Cramer, Wendy's, Darin Harris, Jim, Harris, It's, —, China's, Jim Cramer's, Scott Mlyn Organizations: Microsoft, Nvidia, Club, Del, Starbucks, AIs, chatbots, Global, Companies, CNBC Locations: Columbus , Ohio, U.S, QSRs, Wendy's, Glassdoor, Dana Point , California

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