Latest news with #Ingo
Eater
11 hours ago
- Business
- Eater
An Iconic Santa Monica Diner Resurrects as an Art Deco American Bistro
One of Santa Monica's most charming restaurants has reopened with a fresh new look and name. Diner Antonette, named after owner Bob Lynn's late mother, opened on June 18 in the former Ingo's Tasty Diner along Wilshire Boulevard in Santa Monica, sporting a new adjacent retail wine shop, gift boutique, and spacious hidden back patio. Inside, Ingo's darker teal tones and chalkboard display have been replaced by warm neutral tones, sleek black leather upholstery, and three showcase paintings by artist Sara Abbott (Lynn's wife). Outside, an Art Deco Streamline Moderne facade with a beaming neon sign beckons diners in while the former restaurant's original terrazzo flooring remains, a reminder of the building's storied history. Restaurateur Bob Lynn operates seven restaurants in Los Angeles and the Phoenix area, including the Misfit in Santa Monica. In March of this year, his Pasadena restaurants, La Grande Orange and Luggage Room Pizzeria, closed after 18 and 10 year runs, respectively. Lynn, a trained chef who had a 25-year career as an executive at Hillstone group opening restaurants like Rutherford Grill in Napa, Gulfstream in Newport Beach, and Cafe R&D (which later became R&D Kitchen), tries his best to purchase the buildings his restaurants operate in (except the Pasadena ones, which contributed to their closures) in order to set them up for long term success. Lynn acquired the barrel-ceiling bowstruss-reinforced building that now houses Diner Antonette years ago, which also had the next-door Vienna Bakery. He and Abbott, who live a few blocks away, were always charmed by the diner, which felt like a neighborhood bistro in Brooklyn or Paris with this sunken floor counter and cozy booths. Lynn waited for the owner of the former Callahan's diner to retire before opening Ingo's there in 2014, then waited for the owners of Vienna Bakery, who were in their 80s, to retire and close in 2021 after 57 years of business. From 2021 to 2025, Lynn and his team took apart the bakery to make way for the retail area and patio, exposing its glorious ceiling and even some catwalk mezzanines. Lynn thinks owning the property should give Diner Antonette staying power long after he eventually retires, and hopes it becomes a neighborhood institution like Callahan's and Vienna were before. Although Ingo's had operated for four years until its hiatus, Lynn refreshed the American bistro menu with the help of his longtime director of culinary Jordan Lynn (who also happens to be his son). The menu features plenty of ingredients at their seasonal prime, like poached baby artichokes, peaches with scratch-made ricotta and sorrel pesto, and pan-roasted Scottish salmon with braised Tuscan kale. Ingo's popular crispy Brussels sprouts remain, served with marcona almonds and baked goat cheese. The mains will seem familiar and timeless, like meatballs and rolled spaghetti, steak au poivre with fries, and a cheddar-topped burger using a meat patty that's ground to order (something Lynn claims no one else does). Whole roast branzino Provençal comes with the perfume of vermouth and the comfort of sliced roasted vegetables, while dungeness crab and lobster are served over handmade pasta. For dessert, there's an olive oil cake with saffron and gelato from Lynn's Phoenix-based artisanal Grateful Spoon ($20 to try every flavor, with a 'Do It!' on the menu). Expect quality, smaller producer wines by bottle or glass and a tight set of inventive cocktails. 'We never spent a dime on PR or marketing, like Hillstone. What we do is be patient and focus on execution,' says Lynn, who still praises the consistency and overall operation of his former employer. Still, he thinks Diner Antonette's food takes the familiar American bistro classics and brings them into a more appropriate California-inflected seasonality: 'We're not running items all year long, we're much more focused on what's in season. We try and use all of our seafood daily instead of carrying it overnight. It's just a younger attitude.' Eventually, Diner Antonette will have brunch service, an appealing proposition with that airy patio that fits 60 people, and an expedited 'lunch hour' with reasonably priced, quick-fired items to cater to the neighborhood. Diner Antonette is open daily for happy hour at 4 p.m., with dinner commencing at 5 p.m. It closes at 10:30 p.m., with lunch and brunch service to come. Located at 1213 Wilshire Boulevard, Santa Monica, CA, 90403. See More: Eater Inside LA Restaurant News
Yahoo
15-02-2025
- Business
- Yahoo
Adyen NV (ADYYF) (FY 2024) Earnings Call Highlights: Strong Revenue Growth and Strategic Market ...
Release Date: February 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Adyen NV (ADYYF) reported a strong net revenue growth of 22% for the period, reaching close to 1.1 billion. EBITA margins expanded to 53% in the second half of the year, reflecting efficient cost management and strategic investments. The company successfully launched innovative products like Uplift and intelligent payment routing, which have improved cost efficiency and conversion rates for customers. Adyen NV (ADYYF) continues to gain market share in North America, demonstrating its competitive strength in a challenging market. The company's single platform strategy has resulted in a high net promoter score of 66%, indicating strong customer satisfaction and loyalty. Adyen NV (ADYYF) experienced a slowdown in volumes from a large digital customer, impacting growth rates in the short term. The company's growth in regions like Asia and Latin America is slower compared to Europe and North America, partly due to incomplete product offerings. Despite strong growth, the company faces intense competition in the US market, where some competitors focus on cost rather than value. The issuing business, while showing strong growth, remains small and concentrated, limiting its immediate financial impact. Adyen NV (ADYYF) anticipates a step-up in hiring, which may affect operating leverage and margin expansion in the short term. Warning! GuruFocus has detected 5 Warning Signs with ADYYF. Q: Can you discuss the impact of a major competitor in the US focusing more on value rather than price, and how you see the pricing landscape in the US? A: Ethan, CFO: Our strategy has been consistent in focusing on delivering value to our customers rather than competing on cost. We are gaining market share in the US, winning from competitors who focus on cost. This trend has been ongoing as we continue to gain market share. Q: What is your strategy for embedded finance, and how are you meeting the demand for embedded financial solutions? A: Ingo, Co-CEO: Our strategy is to grow with our platforms. We have over 28 platforms processing more than a billion in payments volume, and over 150,000 subsellers. This growth allows us to upsell financial products, and we are pleased with the progress. Q: Can you elaborate on the growth drivers for 2025 and the importance of different levers? A: Ethan, CFO: Share of wallet growth with existing customers will be the biggest part of our growth in 2025. We expect acceleration across digital, unified commerce, and platform pillars. Our growth isn't linear, but we expect slight acceleration on an annual basis. Q: How do you view the competitive environment in North America, and what is your approach to gaining market share? A: Ingo, Co-CEO: North America is a key market for us, and we are committed to investing further. Our value proposition and innovative products like uplift and debit routing demonstrate our right to play in this market, helping us gain market share. Q: What are your hiring plans for 2025, and how do they compare to 2024? A: Ethan, CFO: We plan to hire more in 2025 than in 2024, focusing on North America and engineering. However, we expect margins to continue expanding, albeit not at the same rate as from 2023 to 2024. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
