Latest news with #DavidGibbs
Yahoo
a day ago
- Automotive
- Yahoo
Strongwell products to be distributed throughout Europe
BRISTOL, Va. (WJHL) — Strongwell, headquartered in Bristol, Virginia, announced on Thursday it has entered an agreement with Module Solutions & Systems AS (MSS) of Norway. The agreement allows MSS to distribute Strongwell's products in Europe, excluding the United Kingdom, according to a news release posted by the City of Bristol, Virginia. 'We are excited to have MSS as our European distribution partner,' Strongwell Vice President of Sales and Engineering David Gibbs said in the release. 'Their experience and presence in the region will allow us to better serve international customers with Strongwell's high-performance, American-made composite products.' Crews to start building baseball field elements inside Bristol Motor Speedway MSS will distribute standard and non-standard FRP products from Strongwell. 'This agreement with Strongwell marks an exciting new chapter for MSS,' MSS Managing Director Morten Alstadsæther said in the release. 'Strongwell's FRP solutions are world-class, and we are proud to offer European customers local access to these proven, high-performance products. Our team is fully committed to supporting clients with technical expertise and responsive service, ensuring the success of every project we're part of.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Eater
3 days ago
- Business
- Eater
This Hand Roll Bar From a Sushi Master Is Opening in Highland Park
Los Feliz sushi spot Sogo Roll Bar is expanding with a second location along a busy stretch of York Boulevard in Highland Park. Opening on June 4 in the former Holcomb space, the restaurant will debut with the same menu of hand and cut rolls, donburi, and starters, including cucumber salad, as the original location. Sogo Roll Bar comes from a partnership between David Gibbs and Kiminobu Saito of renowned Valley sushi restaurant Sushi Note, and Sarah Dietz and Dustin Lancaster, the industry veterans behind Los Angeles bars that include Bar Covell, L&E Oyster Bar, and Real Charmer. Although Dietz wasn't actively looking to expand Sogo, the opportunity arose after Holcomb closed in April. During the two-month flip, the restaurant's interior was updated with green Japanese stucco walls and maroon heron print Gucci wallpaper. Simon St. James of New Made LA designed lighting for the space, while Ellery Stoneware created custom earth-tone serveware. A wooden bar runs the length of the dining room, flanked by a handful of tables, and a patio that faces the street outside seems ideal for sake and snacks. Fans of Sogo's original location will find familiar favorites on the Highland Park menu, including the roll sets with fish like snapper, yellowtail, and salmon. Shareable starters include spicy tuna crispy rice, black cod, salmon sashimi, and baked crab crispy rice. Larger donburis are topped with a choice of raw fish like salmon or albacore, black cod, or cucumber and avocado. While the roll sets offer an easy way to try a diverse array of fish, individual rolls are also available with toro, spicy tuna, unagi, and more. Alongside the food menu, Sogo also serves sake, wine, beer, and non-alcoholic beverages. Sakes are divided into three categories to guide customers, like 'light and refreshing,' 'savory and interesting,' and 'fruity and funky.' While Sogo's Los Feliz location didn't open with a liquor license, the drinks program is a major focus in Highland Park. 'We're really trying to have a bit more focus on being a drinking and snack destination, as well as full meals,' Dietz says. Sushi is what the restaurant may be best known for, but she hopes locals in the neighborhood will pop by for a glass of sake and snacks before a show or dinner. Sogo's arrival in Highland Park brings an all-day sushi option to a neighborhood with a small number of Japanese restaurants. One of the only other sushi restaurants in the area, Ichijiku Sushi, is only open for dinner on weekdays, with late afternoon hours on the weekends. Sogo is also focused on offering hand rolls at a price point where people can be regulars, with most sets falling into the $30 range. 'Raw fish is never going to be cheap price point, but we really try to ensure that it's a price point that you can be comfortable eating at,' Dietz says. Even before opening, Dietz says that neighbors are looking forward to the restaurant's arrival. 'A neighbor was walking their dog down the street a couple weeks ago, and I told her it was going to be a hand roll bar,' she says. 'She screamed out loud in excitement.' Sogo Roll Bar opens in Highland Park at 5535 York Boulevard, Los Angeles, CA 90042 on June 4. It will be open Monday to Thursday from 12 p.m. to 9 p.m., and Friday and Saturday from 12 p.m. to 9 p.m. Sign up for our newsletter. 5535 York Blvd, Los Angeles, CA 90042, ,
Yahoo
23-05-2025
- Business
- Yahoo
Yum Brands considers moving its Louisville headquarters. Here's what to know
Yum Brands, the Louisville-based fast-food chain giant, is considering moving its corporate headquarters, which for now is expected to remain in Louisville. Yum Brands, the parent of KFC alongside Taco Bell, Pizza Hut and Habit Burger and Grill, is looking at properties in Louisville's downtown as well as its East End in addition to considering a renovation of its current headquarters. "No firm decisions have been made; this is an ongoing process," a Yum Brands spokesperson said in a statement May 23. "We look forward to continuing to be a part of the Louisville community." The news of the possible headquarters relocation, first reported by Louisville Business First, comes three months after Yum Brands announced it would be moving the KFC division of the company out of its Louisville headquarters and to Plano, Texas, sending a shockwave across the metro which has been home for the company since 1997. The move to Texas cost Yum Brands approximately $7 million. Additionally, earlier this year, Yum Brands CEO of five years David Gibbs announced his retirement. Gibbs is expected to retire in the first quarter of 2026, The Courier Journal previously reported. Here's what we know about the potential relocation of the Yum Brands headquarters: Background: KFC corporate to move 100 jobs out of Louisville, relocate its headquarters. What to know While the company spokesperson did not directly respond to The Courier Journal's question about why the company is considering relocating its corporate headquarters, the decision is related, in part, to employee collaboration. "As Yum! Brands charts its next chapter in Louisville, we are assessing whether enhancements to our current offices or moving to new ones will best foster connection, collaboration and innovation to drive our business objectives. As part of that process, we are evaluating several office options downtown and the east end," the company statement said. Earlier this year when the company announced it was relocating its KFC division and employees to Texas, it also said the move would "foster greater collaboration among brands and employees." More: Employers, like KFC, are leaving Louisville and taking jobs. What it means for the city Earlier this year, The Courier Journal reported that Jefferson County Public Schools is looking for a location to house a new, consolidated administrative office. To fund this effort, the school district is selling three administrative buildings. JCPS is looking for a building between 168,000 and 250,000 square feet that would have space for 850 employees and a large meeting space that would hold a minimum of 500 people. The current Yum Brands headquarters off Gardiner Lane opened in 1970 as international headquarters of the Kentucky Fried Chicken Corp., coinciding with the 80th birthday of Harland Sanders, according to Courier Journal archives. The public was allowed to pay their respects to the late founder during a public visitation there in December 1980. After his death, his on-site office was converted into the Colonel Sanders Museum. The colonial style headquarters building, knowns as the 'White House,' sits on a nearly 10-acre campus, with an assessed value of $5.31 million, according to the Jefferson County Property Valuation Administration. A six-story technical center was added to the campus in 1986. The Sanders' handwritten recipe is guarded inside the White House by a 770-pound safe encased in two feet of concrete and watched by video cameras and motion sensors, according to a 2024 National Register of Historic Places registration form. While a Yum Brands spokesperson reiterated a definitive decision has not been made on if the company will leave its current office or renovate it, they did confirm, "Simultaneously, as we evaluate all options, we have had conversations with JCPS about our campus and if it would suit their needs." JCPS did not directly respond to questions about conversations with Yum Brands. The district also did not respond to questions about if the current Yum Brands headquarters would satisfy its needs or if it has sold its current administrative facilities. "We are using a (request for proposals) process to find a new location for an administration building. We anticipate bringing a recommendation to the Jefferson County Board of Education in the near future," a JCPS spokesperson told The Courier Journal. More: Yum! Brands decision to relocate KFC from Louisville to Texas came with a price tag Education Reporter Krista Johnson contributed to this report. Contact business reporter Olivia Evans at oevans@ or on X, the platform formerly known as Twitter at @oliviamevans_. This article originally appeared on Louisville Courier Journal: Yum Brands considers headquarters move three months after KFC goes to Texas
Yahoo
06-05-2025
- Business
- Yahoo
YUM Q1 Earnings Call: Digital Investments and Global Expansion Drive Mixed Results
Fast-food company Yum! Brands (NYSE:YUM) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 11.8% year on year to $1.79 billion. Its non-GAAP profit of $1.30 per share was 1.4% above analysts' consensus estimates. Is now the time to buy YUM? Find out in our full research report (it's free). Revenue: $1.79 billion vs analyst estimates of $1.83 billion (11.8% year-on-year growth, 2.6% miss) Adjusted EPS: $1.30 vs analyst estimates of $1.28 (1.4% beat) Adjusted EBITDA: $620 million vs analyst estimates of $636.1 million (34.7% margin, 2.5% miss) Operating Margin: 30.7%, down from 32.5% in the same quarter last year Free Cash Flow Margin: 18.6%, down from 19.6% in the same quarter last year Locations: 60,886 at quarter end, up from 59,129 in the same quarter last year Same-Store Sales rose 3% year on year (-3% in the same quarter last year) Market Capitalization: $40.83 billion Yum! Brands' first quarter results showed sales growth driven by strong performances from Taco Bell U.S. and KFC International, while Pizza Hut and Habit Burger faced more muted trends. Management attributed this momentum to increased digital engagement—particularly through the Byte by Yum! digital platform—and successful marketing campaigns that broadened customer appeal. CEO David Gibbs highlighted, 'Taco Bell saw a significant expansion in consumer penetration, reflecting our efforts to elevate our positioning and broaden our relevance.' Looking ahead, management emphasized ongoing investments in artificial intelligence and technology partnerships, such as the new collaboration with NVIDIA, as key pillars for future growth. Gibbs added that these digital initiatives, combined with continued menu innovation and international expansion, are expected to support operating profit targets despite economic uncertainty and a competitive environment. The company is also preparing for a leadership transition, with Gibbs set to retire next year, stressing that 'the business is in a position of strength' for a smooth handover. Yum! Brands' management discussed the factors behind the company's first quarter performance and outlined key strategic initiatives shaping the business. Deviation from Wall Street's expectations was primarily due to revenue falling short amid ongoing investments and selective softness in some brands. Taco Bell's Value and Innovation: Taco Bell U.S. achieved notable same-store sales growth driven by value menu offerings and new product launches, including the Luxe Box lineup and specialty beverages like those at the Live Mas Cafe test. KFC International's Expansion: KFC International continued its footprint growth, opening 554 new locations, and posted traffic gains in core markets such as China and Korea, fueled by menu innovation and value-focused promotions. Digital Transformation: The Byte by Yum! digital platform expanded across brands, increasing digital sales and engagement. Management cited upcoming AI-driven personalization and operational tools as core to restaurant efficiency and customer experience. Leadership Changes: Meg Farren was appointed President of Taco Bell North America, and Catherine Tan-Gillespie became President of KFC U.S., both expected to drive operational improvements and brand growth. NVIDIA Partnership: A partnership with NVIDIA aims to accelerate AI capabilities in drive-thru automation, computer vision, and analytics, supporting Yum! Brands' goal of making AI integral to restaurant operations. Management's outlook for the remainder of the year centers on leveraging technology, expanding global presence, and maintaining value-driven menus to support profit growth amid unpredictable consumer and geopolitical conditions. Digital and AI Integration: Ongoing investment in digital platforms and AI, including the Byte by Yum! platform and NVIDIA partnership, is expected to drive operational efficiencies and customer engagement. Unit Development and Franchise Strength: Continued global store expansion, especially in KFC and Taco Bell, supported by well-capitalized franchisees, is seen as a key revenue driver even if economic conditions worsen. Brand Diversification: Efforts to improve performance at Pizza Hut and Habit Burger, alongside the strong contributions from Taco Bell and KFC, are intended to provide more balanced growth and reduce risk from reliance on a few brands. Brian Bittner (Oppenheimer): Asked about the sustainability of KFC International trends amid geopolitical concerns; management replied that growth was broad-based, and no significant anti-American sentiment was observed. David Tarantino (Baird): Pressed on the confidence behind back-half weighted profit growth; CFO Chris Turner noted planned cost reductions and margin recovery at Pizza Hut would support the outlook. Dennis Geiger (UBS): Queried about confidence in store development targets despite macro headwinds; management pointed to franchisee strength and robust Q1 gross openings as supporting factors. David Palmer (Evercore ISI): Inquired about the potential for Byte by Yum! to become an external revenue source and expansion of the Saucy concept; management said current focus is internal, with future external opportunities possible, and that Saucy expansion will be methodical. John Ivankoe (JPMorgan): Asked about the uniqueness of the NVIDIA partnership; CEO Gibbs emphasized the proprietary scale of Yum!'s tech stack and the broad scope of AI initiatives under development. In the coming quarters, key areas to monitor include (1) the pace of Byte by Yum! digital platform adoption across brands and geographies, (2) execution of new store openings and franchisee investments, and (3) margin performance as AI-enabled tools are deployed and menu innovations are rolled out. Progress in revitalizing Pizza Hut and Habit Burger, as well as results from the NVIDIA AI partnership, will also be tracked to gauge their contributions to Yum! Brands' profitability and global reach. Yum! Brands currently trades at a forward P/E ratio of 23.8×. In the wake of earnings, is it a buy or sell? Find out in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Miami Herald
02-05-2025
- Business
- Miami Herald
Pizza Hut struggles to reverse troubling consumer trend
It is no secret that Pizza Hut, which is owned by Yum Brands (YUM) , has been the victim of a restaurant-industry trend that has gained steam over the past few years. In Yum Brands' first-quarter earnings report for 2025, it revealed that while same-store sales for Taco Bell and KFC increased during the quarter, Pizza Hut struggled to excite consumers. Don't miss the move: Subscribe to TheStreet's free daily newsletter Pizza Hut's same-store sales declined by 2% year-over-year. Specifically in the U.S., the pizza chain's system sales shrank by 7%. Related: Domino's Pizza suffers a startling loss as customers switch gears Pizza Hut's sales have been struggling for several financial quarters, despite the pizza chain's bold attempts to win back customers. In October 2023, Pizza Hut launched its $7 Deal Lovers Menu, where customers can choose two or more items "for just $7 each." The deal is a revamped version of Pizza Hut's previous $5 Deal Lover's Menu, and it was introduced after the pizza chain quietly increased some of its prices earlier that year. In February this year, Pizza Hut introduced its Ultimate Hut Bundle, in which customers can order two medium pizzas, any eight boneless wings, sticks, and two dipping sauces starting at $24.99. By April, Pizza Hut announced that it was bringing back Cheesy Bites Pizza, a fan-favorite menu item, for a limited time. It also introduced three new exclusive dipping sauces: Chipotle Ranch, Ultimate Ranch, and Pepperoni Ranch. During an earnings call on April 30, Yum Brands CEO David Gibbs said Pizza Hut's same-store sales performance in the U.S. was "disappointing." He flagged that the pizza chain was operating in an "intense competitive environment." "In the U.S., sales started soft in January and improved through February and March with the last few weeks showing sequential gains in revenue and transaction growth," said Gibbs. "The U.S. business faced an intense competitive environment. To drive momentum, Pizza Hut U.S. leaned into group occasions with its stuffed crust and wings promotion and Ultimate Hut Bundle, both of which increased check and attracted new users." Gibbs added that Pizza Hut isn't the only fast-food pizza chain that is struggling to win back customers. Related: Pizza Hut menu brings back a classic fan-favorite item "Pizza Hut is in a tough category right now in QSR (quick-service restaurants) in the U.S., and certainly the pizza category with everybody reporting negative sales is pressured," said Gibbs. "But we've obviously seen Pizza Hut have significant growth in years past when they get the offerings right for consumers, like with melts and value." Earlier this week, Domino's Pizza revealed that its U.S. same-store sales declined by 0.5% year-over-year during the first quarter of 2025. Also, Papa Johns saw its comparable sales in the U.S. dip by roughly 4% year-over-year during the fourth quarter of 2024. Both pizza chains have flagged that they have seen lower foot traffic in their stores. They have also noticed that consumers are pulling away from having their orders delivered and are instead opting to pick them up in person in order to save money. "Delivery is a tougher value right now in this value-conscious world," said Domino's Pizza CEO Russell Weiner during an earnings call in February. "And so, the choice isn't going to another restaurant. Most of the time, it's eating at home." Many consumers have been avoiding fast-food restaurants due to their high prices, which have increased by roughly 47% over the past decade. A survey from Datassential late last year revealed that 46% of U.S. consumers have scaled back their spending on restaurant meals and dining out due to inflation and the increased cost of living. Also, 31% said they are opting to cook food at home in order to save money. More Food + Dining: Domino's Pizza unveils generous deal amid alarming consumer trendSteak 'n Shake's beef tallow fries aren't as healthy as they appearThe Cheesecake Factory makes bittersweet changes to its menu Amid this concerning consumer trend, Pizza Hut has been considering a major change to its restaurants that it believes could attract customers back into its stores. Last December, Pizza Hut announced that it was piloting a new restaurant design that features "a guest-facing pizza making station," self-service kiosks and a drive-thru that contains a new "Hut 'N Go" menu that sells pre-made food. During the earnings call on April 30, Gibbs said that Pizza Hut will focus on its "3D strategy" to attract customers into its stores going forward. This strategy includes "distinctive offerings for group occasions, dependable everyday value through platforms such as the $7 deal levers, and disruptive innovation to gain share in a competitive market." Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
