Latest news with #restaurantindustry
Wall Street Journal
14 hours ago
- Business
- Wall Street Journal
Shake Shack Leans Into Innovation to Keep Customers Coming
Shake Shack SHAK -13.65%decrease; red down pointing triangle is counting on quality ingredients and creativity in the kitchen to keep customers coming back, according to its chief executive. Like its fast-casual peers, Shake Shack is navigating inflation and other macroeconomic pressures that are keeping consumers picky about where and when they eat out. Major chains are working to reignite traffic growth with combo meals and other deals aimed at emphasizing value.
CTV News
2 days ago
- Business
- CTV News
‘We're always bracing:' Growing anxiety among restaurants as tariff deadline looms
As Friday's U.S. tariff deadline looms, many in the restaurant industry are left with uncertainty about what it means for their business. Costa Elles, the owner of Ela Greek Taverna, says the last few months have been a whirlwind. 'We're always bracing. It's obviously been a very tough time for the restaurant industry for the last five plus years. So, this is just another thing to worry about,' says Elles. He says his restaurant has already seen supply costs spike by five to 10 per cent. 'The main issue we are facing is always the pricing. You don't know whether something is going to come in under $40 a case or $80 a case,' says Elles. 'Having to reprint menus… a cost of $5,000 every time you do that.' It's a reality he says leaves him with a unique challenge. 'Not only do we face a price increase in the products that we buy in the raw materials, we now have to look at our employees and give them a little bonus as well, because they themselves are facing tough times when they go to the stores,' says Elles. 'So that uncertainty is really causing us to have some sleepless nights.' With the looming tariff deadline, Restaurants Canada says hope is running thin for those in the food sector. 'Until we know for sure if there's going to be a delay again, the anxiety remains in the air because indeed, if there are tariffs on both sides of the border on these products, it will be felt across the board,' says Janick Cormier, Restaurants Canada's Atlantic vice-president. In an industry that relies on planning and stocking products ahead of time, restaurants are now left watching from the sidelines, as another wave of uncertainty unfolds. 'Stability is really important for us. Whether it's going to come on Friday, whether its going to be extended... you know we're bracing for that,' says Elles. For more Nova Scotia news, visit our dedicated provincial page
Fox News
4 days ago
- Business
- Fox News
Why some steakhouses are thriving while others can't keep diners coming back: 'Not just about the food'
It may seem like the era of casual dining is over, but one restaurant industry is still sizzling: steakhouses. Despite challenges amid the COVID-19 pandemic, the steakhouse industry has seen steady growth since 2020. Industry revenue for premium steak restaurants has climbed at a 5.4% compound annual growth rate over the past five years, reaching an estimated $8.3 billion in 2025, according to a U.S. market research report by IBISWorld. There are now 4,263 premium steakhouses across the U.S., per the data, reflecting the strong national appetite for red meat. Economists point to more consumer spending and an increase in households with annual incomes over $100,000. But there's a catch: The growth has not been universal. Smaller chains like BLT Steak, BLT Prime and Charlie Brown's have shuttered many locations in recent years – and they're not alone. Florida-based Outback Steakhouse began closing underperforming locations in 2024. Logan's Roadhouse, with headquarters in Texas, declared bankruptcy in 2020 after losing business during the COVID-19 pandemic. It currently has 130 locations open, down from 261 at the start of 2020. So how have independent steakhouses been able to get customers through their doors? Fox News Digital spoke with two executive chefs from different U.S. regions about what's working in 2025. Olivia Hurst, executive chef at Cattle Shed Wine & Steak Bar in Alpharetta, Georgia, reported that her restaurant is having a successful year so far. Hurst said that the growth is driven by guests who buy wine with their steaks. "These guests enjoy the elevated dining experience." "Fortunately, our guests have been less affected by the rising consumer costs over the last few years in comparison to our casual-dining-restaurants contemporaries," she said. "We find these guests enjoy the elevated dining experience that comes with dining at a restaurant like ours." Her "barbell strategy" – balancing high-end wine service with a more affordable happy-hour menu – has helped sales even as other casual steakhouses struggle to compete on price or atmosphere. In New York City, chef Sungchul Shim of Gui Steakhouse said he sees a similar trend. "Diners are craving experiences that strike a balance between comfort and novelty," he said. At Gui, that means U.S. Department of Agriculture (USDA) prime beef and A5 wagyu alongside creative, Korean-influenced sides like wagyu kimchi fried rice and confit tuna tartare. "It's not just about the food anymore – it's about the whole experience," Shim added. "Guests want something curated and intentional." "They want food that feels familiar but also offers something unexpected. Steakhouses deliver that sense of timelessness, but the ones really thriving are those that bring something new to the table." Above all, Shim said steakhouses can thrive with enough imagination and personality. "At the same time, people are more conscious about value and consistency," he said. "With delivery and home cooking still in the mix, restaurants have to work harder to make dining out feel special and worthwhile. I think a steakhouse really delivers on that."
Yahoo
23-07-2025
- Business
- Yahoo
Chipotle Mexican Grill cuts annual comparable sales growth target
(Reuters) -Chipotle Mexican Grill on Wednesday lowered its annual sales growth target for a second time this year, as the burrito chain takes stock of economic uncertainty and U.S. consumers dining out less. The company now expects annual comparable restaurant sales to be about flat year-over-year, compared with its prior target of growth in the low single-digit range.
CTV News
23-07-2025
- CTV News
Spike in restaurant arsons sparks concern
Winnipeg Watch Shaun Jeffrey from the Manitoba Restaurant and Foodservices Association weighs in on the rise in suspicious fires and what's behind the troubling trend.
