Viewpoint
Fast casual needs to be fast....who knew? by Bob Gershberg, CEO & Managing Partner,
Wray Executive Search
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Bob Gershberg
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The bloom is not off the rose. Not by any means. The less than stellar 1st quarter performance of fast casual frontrunners Panera and Noodles & Company is fleeting. If weather was a culprit, it has passed. If speed of service or throughput is of issue, it will be fixed. If we know one thing about Ron Shaich, he sees the bumps before most and gets laser focused on fixing them. Kevin Reddy, no slouch himself, will return Noodles to sales growth. Full Article � |
"Don't worry about failure; you only have to be right once." -Drew Houston, Dropbox founder and CEO
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Franchise restaurant Hurricane Grill & Wings, announced that Derek Kirk has joined the brand's executive team as Chief Marketing Officer. Full Article �
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Pizza Inn Holdings, Inc. announced that it has hired Timothy Mullany to become the company's Chief Financial Officer, effective Monday, May 5. The former Smashburger executive brings wide-ranging expertise to international chain and rapidly growing fast-casual concept, Pie Five Pizza. Full Article �
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Quaker Steak & Lube announced it has hired Greg Lippert as its new chief executive officer. Full Article �
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Yum! Brands, Inc., announced today that its Chairman and Chief Executive Officer, David C. Novak, 61, will become Executive Chairman on January 1, 2015, transitioning from his current role. Novak has served as CEO since 1999, building a global restaurant powerhouse with over 40,000 restaurants in 125 countries. Full Article �
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During the company's annual convention the week of April 7, Marco's Pizza, the country's fastest growing pizza franchise, named Bryon Stephens as President. Since starting with Marco's Pizza in 2004, Stephens has demonstrated significant success in his leadership roles as Vice President of Development, and Chief Operating Officer, a position he was promoted to in 2013.
Full Article �
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Sonic Corp., parent company and franchisor of the nation's largest chain of drive-in restaurants, announced the promotions of two executives within the marketing team. Senior Vice President James O'Reilly is being promoted from chief marketing officer to chief brand officer, and Todd Smith is being promoted from vice president of marketing to chief marketing officer. Full Article �
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Panera reported $605 million in first quarter revenue, a figure that beats the $600.7 million analyst consensus and marks an 8% increase over the $561.8 million reported for the same period in 2013. First quarter net income came in at $42.4 million - a 12% decline from the $48 million reported for the prior-year quarter - and resulted in earnings of $1.55 per share, 3 cents above the Street's consensus. Full Article �
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Noodles & Company Earnings Fall Shy Of Expectations. Net income for the quarter increased 56% to come in at $1.4 million, an increase of $0.5 million from the first quarter in the prior year. Earnings per share (EPS) were five cents, falling short of analysts' estimates by a cent. Full Article �
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Buffalo Wild Wings, Inc. Announces First Quarter Earnings Per Share of $1.49. Net Earnings Growth Goal for 2014 Increased to 25%. Full Article �
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Dunkin' Donuts U.S. comparable store sales growth of 1.2% - Added 96 net new restaurants worldwide including 69 net new Dunkin' Donuts in the U.S. - Revenue increased 6.2%. Full Article �
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Chipotle Mexican Grill, Inc. First Quarter 2014 Revenue Up 24.4%, Comparable restaurant sales increased 13.4%, Restaurant level operating margin was 25.9%, a decrease of 40 basis points, Net income was $83.1 million, an increase of 8.5%, Diluted earnings per share was $2.64, an increase of 7.8%, Opened 44 new restaurants. Full Article �
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Brinker International Reports Increases In Third Quarter Fiscal 2014 EPS And Comparable Restaurant Sales. Full Article �
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The Cheesecake Factory Reports Results for First Quarter of Fiscal 2014. Full Article �
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McDonald's Corporation announced results for the first quarter ended March 31, 2014, reflecting higher revenues compared with the prior year. Full Article �
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Yum! Brands Reports First-Quarter EPS Growth of 24% Excluding Special Items. Full Article �
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Carrols Restaurant Group, Inc. Reports Financial Results for the First Quarter of 2014. Full Article �
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James Beard Awards
2014 James Beard Restaurant and Chef Award Winners by Associated Press
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The winners of the 2014 James Beard Foundation restaurant and chef awards are: --- NATIONAL CHEF AWARDS:
- Outstanding Chef Nancy Silverton of Pizzeria Mozza in Los Angeles
- Outstanding Restaurant The Slanted Door in San Francisco
- Rising star Chef of the Year Jimmy Bannos Jr. of The Purple Pig in Chicago and Blaine Wetzel of The Willows Inn on Lummi Island in Lummi Island, Washington
- Outstanding Restaurateur Barbara Lynch of Barbara Lynch Gruppo (No. 9 Park, Menton, B&G Oysters, and others) in Boston
- Best New Restaurant Peche Seafood Grill in New Orleans
- Outstanding Pastry Chef Dominique Ansel of Dominique Ansel Bakery in New York City
- Outstanding Service The Restaurant at Meadowood in St. Helena, California
- Outstanding Wine, Beer or Spirits Professional Garrett Oliver of Brooklyn Brewery in Brooklyn, New York
- Outstanding Wine Program The Barn at Blackberry Farm in Walland, Tennessee
- Outstanding Bar Program The Bar at the NoMad Hotel in New York City. Full Article � |
Executive Chat with Randy Gier, CEO and President of Pizza Inn Holdings
by Rebecca Patt, Vice President of Development, Wray Executive Search
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Rebecca Patt
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Randy talks about Pizza Inn's hot new fast-casual pizza concept, Pie Five. Part one of two.
The whole fast-casual pizza segment is exploding by the minute. What do you think about all the competition out there? What sets you apart? A couple things set us apart. First of all, we are the only concept where you actually get your pizza while you are in line, instead of sending you to the table and calling you back up, or bringing it out to you. We are the only one who is truly, from start to finish, under five minutes. We are the only one that gives crust variety, and people do have preferences. Some people like a thin crust, some people like a pan crust, some are looking for gluten free, or in our case whole grain as well. We've got four different crusts. Because of our oven set up, we are able to cook different crusts versus what some of our competitors are doing. Full Article � |
Financial Edge
Continued signs of improved consumer spending by David Ulrich, EVP Wray Executive Search
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The spring of 2014 is finally upon us, and with the warmer weather comes the consumers that had previously been gripped by "the winter that wouldn't end." Consumer sentiment is up across all segments, which will translate into a solid and impressive second quarter GNP when all is said and done come summer. Employment opportunities for growth related disciplines including Franchise Sales, RE Development, and even Construction have shown signs of increasing demand and activity throughout all segments within the restaurant industry. Full Article � |
Women's Corner
by Mary Civiello
How women can narrow the 'confidence gap' Tips from an executive communications coach.
FORTUNE -- In a new book, The Confidence Code: The Science and Art of Self-Assurance - What Women Should Know, two high-profile TV journalists, Claire Shipman and Katty Kay, say women are less confident than men even when they are equally competent. They cite studies that suggest this lack of confidence is getting in the way of more women getting ahead. The authors have seen it in themselves and in interviews with powerful people. As a communications coach for the last decade, I'm not surprised. I've not only seen it, but I've asked women why to help find solutions. Full Article �
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