Latest news with #casualDining
Yahoo
31-05-2025
- Business
- Yahoo
Red Robin ‘far from claiming victory' despite comps growth
This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Red Robin had a strong first quarter as the casual dining chain posted 3.1% comparable restaurant revenue growth, according to an earnings release. Despite the strong showing, 'we are far from claiming victory,' CEO and President David Pace said in the release, adding there "is still more work to be done as we continue the comeback journey." This strong growth was driven by long-term investments in labor, loyalty and equipment, GJ Hart, former CEO and current advisor, said on the brand's earnings call. Hart, who announced his resignation last month, led the brand through the first years of a turnaround plan. Pace said Red Robin's operational foundations are strong, but the brand needs to extend and consolidate changes that have included new flat-top grills, increased staffing and efforts to encourage managers to visit more tables. The CEO also said Red Robin still has room to improve the guest experience and will focus on marketing in the coming year. Kevin Mayer, the brand's CMO, departed in February, according to SEC filings. The brand has taken measures to fill Mayer's shoes. 'Recently, Russ Klein has joined our team for a one year term to help us build our marketing foundation and strategy,' Pace said. 'Russ brings us a widely recognized track record of success in effectively reconnecting well known brands with their customer bases.' Klein is the former CEO of the American Marketing Association, and held previous leadership posts at Arby's and Burger King, according to his LinkedIn profile. A firm marketing strategy will be particularly important for the brand. Casual chains, most notably Chili's, have done very well in the current, value-focused environment by marketing themselves as affordable competitors to QSRs. Chili's massive traffic leaps of late followed several quarters of solid same-store sales growth, also driven by a long turnaround effort. There is some evidence from recent quarters that many consumers are looking to dine more on weekends and special occasions. This is especially true for on-premise dining, and consumers are trading up from QSRs to more experiential restaurant formats, which offer a form of value that's not captured neatly in pricing. Red Robin's strong performance in the quarter pushed its net income to $1.2 million, up from a $9.5 million loss in the year-ago quarter. The brand sold off three company-owned restaurants for $5.8 million, using the proceeds to pay down debt. Still, the brand's leaders sought to manage expectations for the rest of the year, with CFO Todd Wilson noting that Q2 will lap the relaunch of its loyalty program last year. This means same-store sales growth will face a 240 basis point headwind next quarter, making it unlikely that Red Robin will repeat its comps growth in the near future. Recommended Reading GJ Hart resigns as Red Robin CEO Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
18-05-2025
- Business
- Associated Press
Prestigious 2025 Gold Plate Award Goes to Kevin Hochman
IFMA The Food Away from Home Association honors the CEO & President of Brinker International with coveted Gold Plate Award CHICAGO, May 18, 2025 /PRNewswire/ -- Hundreds of industry leaders were on hand in the Great Hall of Chicago's Union Station on Saturday night, May 17, as Kevin Hochman, CEO & President of Brinker International was awarded the 2025 Gold Plate Award from the IFMA The Food Away from Home Association. Hochman was nominated in the Chain Full Service category by The Coca Cola Company and selected from the eight honorees who took home Silver Plate awards this year. Hochman became CEO and President of Brinker International, Inc., in 2022. Brinker is one of the world's leading casual dining companies and home of Chili's® Grill & Bar, and Maggiano's Little Italy®. Brinker-owned restaurants serve about 800,000 guests daily, with a workforce of 70,000+. Under Hochman's leadership, the company's market capitalization has increased to over $7 billion. Hochman was introduced at the awards ceremony by his mentor, Dave Goebel, Chairman of Jack in the Box, who told the attending crowd that 'The combination of Kevin's intellectual capacity, his spirit of inclusiveness, his transparency and authenticity, his heart and genuine concern for the thousands of Chiliheads and Maggiano's team members is core to his success, what brings him here this evening and will serve those brands well for years to come.' In accepting the Gold Plate, Hochman thanked the many people who have supported him, from his mother, wife, and family to his colleagues and mentors. He said that, reflecting on the great success of Chili's led him to three important realizations, 'One: Dining out is not out is as relevant as ever for consumers. Two: If you can do the fundamentals can make your operation a success. And Three: Listen to the front lines. Those closest to the customer can help you make better decisions.' For 71 years, IFMA The Food Away from Home Association has presented awards to extraordinary foodservice operators through the Gold & Silver Plate Awards, the most respected awards program in foodservice. Each year, the group solicits nominations from across the industry and a distinguished jury of industry experts weighs the merits of candidates who represent a variety of foodservice segments. Selected honorees receive a Silver Plate Award, and one is then chosen by secret ballot to receive the Gold Plate Award for overall industry excellence. Past Gold Plate winners include Danny Meyer (2000), Van Eure (2004), Charlie Trotter (2008), Timothy J. Dietzler (2010), Wolfgang Puck (2017), Regynald G. Washington (2019), Antionette Watkins (2021), Lance Trenary (2022), Jessica Shelly (2023), and Chris Tomasso (2024). In addition to Hochman, 2025 Silver Plate recipients are: Geoff Alexander, President and CEO of Wow Bao, in the category of Grocery, Convenience, & Specialty Retail, nominated by Ecolab Ryan Conklin, Director & Executive Chef Culinary and Nutrition Services at UNC Health Rex, in the category of Healthcare, nominated by ITW Food Equipment Group Gary Crompton, President & CEO of Aramark Workplace Experience Group, in the category of Business & Industry / Foodservice Management, nominated by PepsiCo Whitney Ellersick, Executive Director for Nutrition Services at Hillsboro School District, in the category of Elementary & Secondary Schools, nominated by Nestlé Professional Solutions Patti Klos, Director of Dining Services at Tufts University, in the category of Colleges & Universities, nominated by ITW Food Equipment Group Richard Schneider, Chief Development Officer at Areas USA, in the category of Travel & Leisure Foodservice, nominated by Ecolab, Hormel Foods, and Nestlé Professional Solutions Michael Skipworth, President and CEO of Wingstop, in the category of Chain Limited Service, nominated by Ecolab and Tyson Foods 'It was an honor to present the Gold Plate to Kevin Hochman this year,' said Phil Kafarakis, IFMA The Food Away from Home Association's President & CEO. 'All our winners are nominated by food, beverage, and equipment manufacturer partners who know their stories first-hand. It's a remarkable class of honorees that proves the point that our entire industry is interconnected and stronger together. And it's exciting to realize that these leaders will continue their relationship with us through the Gold & Silver Plate Society, made up of all past award winners.' The black-tie celebration for the 2025 Silver Plate Class was attended by hundreds of food-away-from-home leaders and luminaries and emceed by the 2022 Gold Plate honoree and CEO of Golden Corral, Lance Trenary. The event opened with the presentation of the National Restaurant Association's Legends Award, presented to Past Golden Corral CEO, Ted Fowler. Trenary spoke from the heart in honoring Fowler, 'I have had the privilege of having a front row seat to this man's life and as my mentor, my friend, my confidant, my fellow foodie, and my fly-fishing buddy so I can honestly say, I am grateful beyond words.' IFMA The Food Away from Home Association is currently soliciting candidates for the 2026 Silver Plate Awards. Nominations will be accepted through September. The 2026 Gold & Silver Plate Awards Celebration will be held on Saturday, May 16, 2026. For more information, visit About IFMA The Food Away from Home Association IFMA The Food Away from Home Association is a trade association founded in 1952. The organization empowers, nurtures, and connects an inclusive and diverse $1.5 trillion food-away-from-home ecosystem of manufacturers, distributors, operators, and others. By sharing insights, fostering best practices, and developing networking and educational opportunities through events, IFMA The Food Away from Home Association informs and instructs its members, and motivates change to improve both individual organizations and the food-away-from-home industry at large. For more information, visit View original content to download multimedia: SOURCE IFMA The Food Away from Home Association
CNN
13-05-2025
- Business
- CNN
TikTok-worthy cocktails, upgraded meats and a signature sauce: TGI Fridays debuts a new menu
TGI Fridays, toiling in bankruptcy and dealing with a steady pace of closures, perhaps has a simple solution for all of its ills: Better food. On Tuesday, TGI Fridays is rolling out a revamped menu at its US restaurants which includes more mozzarella sticks options, upgraded steaks and chicken, a new signature sauce as well as a visually appealing cocktail list to appeal to the TikTok generation. A new menu is the first step CEO Ray Blanchette is making to revitalize the 60-year-old chain, which has all but diminished into irrelevancy under its former private equity owner who took the flavor out of TGI Fridays. 'We've touched 85% of the menu, including improving the quality and cooking methods as well as getting back to hand-breading (chicken fingers) and doing things that we've always been known for, like hand-cutting steaks,' he told CNN. Blanchette had served as TGI Friday's CEO for five years until May 2023, before returning in January. He immediately took on the Herculean task of helping to usher the iconic business out of Chapter 11, which it hopes to complete this summer, and return it to growth. TGI Fridays has 85 US locations remaining — a far cry from the 600 it had at its peak in 2008. Adding to the challenge, the casual dining sector is struggling, with many chains (barring one notable exception) reporting slumping sales as customers pull back their spending amid economic uncertainty — making a TGI Fridays relaunch even more difficult. Part of the reason for slumping sales is that heritage chains haven't innovated enough compared to their quick service competitors, according to Maeve Webster, president of consulting firm Menu Matters. 'When times were good before the pandemic, they got a bit lazy with the way they were thinking about their concept, their position in the marketplace and the idea that consumers would always go,' she told CNN. 'After the pandemic, that put a lie to that idea. Now suddenly they found themselves having to really re-think what their position was in the marketplace, layered on top of that all of the challenges that are facing restaurants in general with labor, supply chain and increased costs.' Within his first 100 days on the job, Blanchette wanted to make 'no regrets moves' with the menu. That meant leaning into what its fans are familiar with — notably appetizers, meats and cocktails — plus hopefully attracting Gen Z eaters that crave different flavors. 'We approached it from the standpoint of let's make sure everything we have on our menu is something we're proud to serve,' he said. 'If it's not and if we're not proud to serve it, either delete it or improve it.' A hallmark of the menu is a new 'TGI Sauce,' which the chain calls the 'flavor anchor we've been missing.' It's described as a 'craveable, all-purpose sauce built to elevate fries, burgers, and hand-breaded chicken.' TGI Fridays is also expanding its mozzarella sticks sauce selection, which is the 'most-Googled item associated' with the chain, to include Frank's RedHot Buffalo, garlic parmesan and whiskey-glaze options; improving its tater tots and introducing a new 'Big Queso Energy Burger,' a Southwestern-inspired cheeseburger. Chicken is getting an upgrade, with the chain now buying better-quality poultry and hand-tossing the coating of fried chicken at the restaurants. Steaks, too, are now being cut in-house. Blanchette also teased that pot stickers are returning to its Thai Chicken Salad. 'We're going back to be more distinctive,' he said. 'We knew one of the broad-based assumptions that Fridays is known for bold innovation, interesting presentations of the food and proper cooking … we knew we wouldn't regret going back to really pure and true cooking methods.' But TGI Fridays could get too bold, like with sushi, an offering added during Covid-19 to make use of its empty dining rooms and was sold via delivery under a virtual brand. That's gone, with Blanchette admitting it was 'easy to move away from.' Steakhouse Meatballs, an appetizer topped with a garlic and herb chimichurri sauce and served with tortilla chips, plus Truffle Tot-Chos, both got the axe, too. The changes are more 'new-ish' rather than a total makeover, in Webster's opinion. TGI Fridays is 'revamping some of the stuff that's already been there, which is not bad — people like mozzarella sticks and there's nothing wrong with them — but I'm not sure that that addresses some of the more critical issues that might be facing them,' she said. It's not only the food that's changing, so are the drinks. After all, TGI Fridays got its start in 1965 in Manhattan as a place for singles to meet each other. It was one of the first major chains to popularize the 'happy hour' concept. Blanchette is changing the drinks menu to reflect the classics TGI Fridays served in years past, like when he was a manager and then in other leadership roles from 1989 to 2007. The chain used to display seven goblets at its bars, each representing its signature cocktails that are now being modernized into 'Power Pours.' The drink list includes a 'Jack's New Fashioned,' a fresh take on a Jack Daniel's whiskey cocktail that switches out the orange for a black cherry; a new Long Island iced tea called the 'The eLITe' that mixes vodka, gin, rum, an orange liqueur, lemonade and a splash of Coca-Cola. There's also a stronger 'Strawberry Henny,' which has Hennessy V.S. cognac, a splash of Grand Marnier, and fresh strawberry purée topped with a sliced strawberry. Blanchette has seen in their tests that 'people are drinking less cocktails, but they're drinking more premium cocktails,' especially younger consumers. When they do indulge, he added, 'there's a need to focus on handcrafted, fresh ingredients built right in front of them.' All the drinks have a 'high visual appeal,' the company said, likely in hopes of imitating the success other chains have seen with colorful cocktails that have gone viral on social media. This month, Chili's rolled out a '90s-inspired color-changing margarita. For Webster, leaning too much into trends isn't a panacea for the difficulties casual dining chains are facing and TGI Fridays is 'going to find that that's probably not going to be the answer to their problems.' However, a reinvention for TGI Fridays isn't 'impossible,' she said referencing how Chili's is 'killing it' again. 'Our industry needs some wins and I'd like to see some of these heritage brands reclaim the things that made them unique,' she said.
Entrepreneur
07-05-2025
- Business
- Entrepreneur
How a New Leader Is Reviving a Classic Restaurant Franchise
As its U.S. locations dwindle, one brand is betting big on its new CEO to engineer a comeback. Mina Haque isn't the likeliest person to turn around a once-popular food franchise. She's a lawyer by trade and, until a few years ago, didn't have any restaurant experience. But that didn't stop her from accepting the challenge and taking over as interim CEO of Tony Roma's in 2023. "I'm a very happy attorney," she says, "I still practice law, but I couldn't turn them down — their investors wanted to protect their investment, and they liked how I think and my approach and leadership skills, and they wanted someone tested. So, here I am." Now, Haque is embarking on a comeback plan to return the once-thriving franchise to prominence — and then to even greater heights. Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget. Founded in 1972 in Miami, Florida, Tony Roma's, known for its baby back ribs and family-friendly atmosphere, was once a popular destination for casual dining across the country. At its peak in the early 1990s, the franchise had 260 locations across the U.S., concentrated in Florida and California. But, as consumer tastes shifted and competition in the casual dining space intensified, Tony Roma's struggled to maintain its foothold. Over the past few decades, most U.S. locations closed, leaving the brand with a much stronger presence internationally than at home. But despite its global presence stretching from Guam to Germany to Guatemala, the brand recently teetered on the edge of extinction in the U.S. — home to only six of its 60 remaining locations. Then Haque got involved with the company in 2021. Related: How the IFA Plans to Strengthen the $800 Billion Franchise Industry in 2025 No restaurant experience? No problem. Tony Roma's initially hired Haque to work on legal issues. She assumed it would be a typical case: Come in, do the work and then move on to the next one. Soon, the uneasy investors, seeing the brand's relevance vanishing, saw something in her as well. They quickly offered her the job of outside general counsel, leading their legal department. Haque took to the role enthusiastically. "Right away, I was reviewing their contracts, recovering money owed and advising the board members and shareholders, to the point where I developed relationships based on trust," she says. Then, they made a move she says she never saw coming: "They offered me the role of CEO in the summer of 2023." Related: After Decades of Hard Work, This Couple Is Living the Entrepreneurial Dream. Here's How They Achieved Generational Wealth Tony Roma's 2.0 Despite the brand's domestic decline, Haque stepped in with an optimistic and unique view of the company. "I take the brand's past as a lesson that can inform my decisions," she says. "That's where my legal experience comes in, because analytical skills are what attorneys do best — we don't ignore precedent, we learn from it." After taking over as CEO, Haque immediately began working on a plan to revitalize Tony Roma's, called Tony Roma's 2.0, which has an expected full launch in late 2026. At the heart of this initiative is a new, streamlined store concept — significantly smaller than the traditional full-sized restaurants — aimed at optimizing efficiency and profitability, including a compact 3,000-square-foot dining format. "We want a smaller location," Haque says. "Our older restaurants have bigger square footage — 6,000 to 10,000 square feet — and that's no longer an optimized size, because you add to the franchisee's overhead costs." Location selection and other decisions will also be influenced by AI, enabling the company to make smarter long-term choices. In addition to updating its physical spaces, Tony Roma's 2.0 emphasizes technological innovation, including integrating AI in ordering and store management. Additionally, Haque says the brand will use robotics in areas like inventory management and meal preparation. She sees these advancements not as replacements for the human touch, but as tools to increase efficiency, maintain consistent quality and free up staff. The current U.S. franchisees are already feeling the effects. "There have been noticeable changes in terms of franchise support on the store level since Mina became CEO," says Suraj Shah, who owns a Tony Roma's in North Carolina. "Before, it might have been, 'Hey, here's a new menu item, use it or don't.' Now, there's a lot more training and support." The strategy to restore Tony Roma's U.S. presence already appears to be gaining traction. The brand is set to open its seventh domestic location in Tennessee later this year. Related: 6 Intriguing Statistics About Women in the Franchising Industry Looking ahead As Tony Roma's 2.0 ramps up, Haque says we'll see more U.S. locations, both standalone and in certain venues. "Tony Roma's has done exceptionally well inside casinos," she says. "We have a successful unit in Las Vegas where people still line up for two hours. So, I would like to see more Tony Roma's inside casinos." Franchisees are already buying into this strategic vision, seeing Haque's leadership as the key to blending the brand's storied past with a sustainable future. "I think she and her team do an amazing job of bringing forward that 2.0 vision while keeping the core identity of Tony Roma's," Shah says. "They're still maintaining that legendary ribs experience Tony Roma's has been known for for over 50 years — the reason I originally wanted to become a franchisee." Related: Want to Become a Franchisee? Run Through This Checklist First.
