Michael “Schatzy” Schatzberg’s Post

Texas Roadhouse is sizzling with success, bucking industry trends and achieving a standout 9.3% increase in same-store sales, thanks to savvy operational upgrades and a keen focus on everyday value. Texas Roadhouse posted a notable 9.3% increase in same-store sales for Q2 2024, driven by a 4.5% rise in traffic and a 4.8% increase in average check size. This growth continues into Q3 with an 8% rise. The chain's success is attributed to enhanced back-of-house technology, including digital order management and mobile access for employees, which improves efficiency and staff satisfaction. Lower commodity costs and a well-staffed workforce further bolster its strong position in a challenging market. Read More Here: https://lnkd.in/egg_mkjc Restaurant Dive Julie Littman Branded Hospitality Ventures Hospitality Hangout Podcast #hospitality #food #restaurants #marketing Sammy Vela Wayne Jones Raymond Day Michael Crawford Gina Tobin Brad Scheiner Hernan Mujica Shane Broadway Kathleen (Kathy) Widmer

Restaurants and retail stores seem to be closing at a faster pace. With the official economic data as strong as it has been, how can this be the case? What is the cause of all these closures, and is there any end in sight. Read more from Chief Economist John Norris, to find out what is going on in the restaurant industry and why: https://lnkd.in/gPrRgUtF

Another no surprise. Dining out even in lower cost family focused restaurants has become prohibitive for even small families today. Then should you try and stay in the restaurant business, try and find a bank willing to support you at a cost you can afford. The end result of Bidenomics in small business? https://lnkd.in/dFh36i-6 #bidenfailures #bidenomics #economy2024 #election2024

Denny's plans to close 150 of its poorest-performing restaurant by the end of 2025. About half of the closures will happen over the next two months and the rest in 2025. Just for the record, most landlords don’t allow tenants to unilaterally terminate their leases and vacate the premises unless they negotiate a lease cancellation agreement and pay a substantial amount of rent owed for the remaining term of the lease or in the alternative, file for bankruptcy protection in which the court mandates the termination of certain leases. This week, Denny's reported its fifth straight quarter of Y-o-Y declines in same-store sales. Steve Dunn, Denny’s executive vice president and chief global development officer, said that some of these restaurants are very old and are no longer in good locations. The planned closures represent around 10% of Denny’s total.

Denny’s Shuts Down Over A Hundred Locations dennys locations Looks like it’s closing time for Denny’s locations across the country. After years of missed sales expectations, the company finally pulled the trigger on its restaurants… But will it be enough to get the company standing on two feet again? Goodbye Denny’s Locations Starting this year and continuing through 2025, Denny’s is shutting down 150 locations. THAT’S ABOUT 10% OF TOTAL DENNY’S LOCATIONS. The announcement arrives after 5 consecutive quarters where the company experienced declines in year-over-year sales. Because restaurant inflation is outpacing grocery inflation, consumers are less willing to go out for dinner in different restaurants… And that is bad news for Denny’s. After all, the company still hasn’t bounced back from pandemic-era issues like restricted foot traffic. Denny's closing 150 restaurants Not to mention, many of Denny’s restaurants are in locations that do little to improve traffic and in-store sales. EVEN AS DENNY’S LOCATIONS STRUGGLE, THIS CHAIN IS NOT ALONE. Other fast-casual restaurants have also faced difficulty this year… Both Red Lobster and TGI Fridays have filed for bankruptcy. Ultimately, it is still up in the air whether these closures can help save future Denny’s locations… But in the restaurant business, it’s sink or swim.

👉🏻 This phenomenon can be observed in Germany - and other Eurooean countries - on a rapidely growing scale. It is another clear sign for me that the private purchasing power is steadily decreasing. "A mix of underperformance issues, financial pressures from inflation, strategic realignments, changing consumer trends and overall cost-cutting objectives have all contributed to the recent wave of location closures across several restaurant chains in 2024. Major chains including TGI Fridays, MOD Pizza, Outback Steakhouse and Applebee's cited “underperformance” as the main reason for closing certain restaurant locations. They are strategically shuttering stores that are not meeting sales and profit expectations." #leadership #economy #culture #recession https://lnkd.in/eMAKBdy4

TGI Fridays Inc., the American restaurant chain known for its relaxed atmosphere, happy-hour deals, and beloved comfort foods like mozzarella sticks and loaded potato skins, has filed for bankruptcy protection. The Dallas-based company filed for Chapter 11 bankruptcy in the Northern District of Texas on Saturday, aiming to restructure its business and secure its long-term future, according to a company statement. Executive Chairman Rohit Manocha explained that the company is facing financial pressures, partially due to the impact of the COVID-19 pandemic. Despite the filing, all 39 U.S.-based locations owned by TGI Fridays will continue to operate as usual, while franchise-owned locations—operated by 56 independent franchisees—are not included in the bankruptcy process. Court documents show TGI Fridays’ estimated assets and liabilities each range between $100 million and $500 million. Founded in 1965 in Manhattan, TGI Fridays quickly gained a reputation for its lively atmosphere, especially at happy hours, where large portions and a vibrant social scene attracted singles and groups alike. In 2007, the company adapted to changing customer preferences by introducing smaller portions at lower prices, which proved popular. However, the pandemic hit sit-down dining establishments hard, especially those with significant real estate investments. TGI Fridays operates over 461 locations across 41 countries, but in recent years, customer demand has shifted toward quicker, more affordable dining options. In October, Bloomberg reported that TGI Fridays was exploring financing options in anticipation of a possible bankruptcy filing. The chain, which dropped the apostrophe from its logo in 2013, is privately owned by New York-based private equity firm TriArtisan Capital Advisors. TriArtisan has not provided additional comments. A longtime icon of American casual dining, TGI Fridays is famous for its colorful cocktails and claims to have trained actor Tom Cruise for his role as a bartender in the 1988 movie Cocktail. It also popularized the Long Island Iced Tea. TGI Fridays isn’t alone in its struggles; other casual-dining chains like Buca di Beppo and Red Lobster have recently filed for bankruptcy as the dining landscape continues to evolve. https://lnkd.in/g8YR6UVB https://lnkd.in/dw-rsrA https://lnkd.in/ga5trsze

There is a lot of buzz around franchising. And it certainly works for many chains, but it’s not the only way to grow and attain good margins. Some large restaurant chains with a moderate part of their systems franchised have also been able to engineer better-than-average profitability. Some examples of publicly traded restaurants doing this in the U.S. are Dave & Buster’s, Chipotle, and Darden. The three are in different categories: eatertainment, fast-casual, and casual dining. As Einstein said, a problem can’t be solved with the same line of thinking that created it. And while its hard for restaurant chains to maintain margins, many do very well. For those looking to improve their company’s bottom line, rather than just keep track of it, the most powerful lever at their disposal is to act as their own activist. We recommend a holistic approach be applied to looking at the organization, working across functional areas and down individual line items of the restaurant P&L while reviewing factors impacting performance both inside and outside the business — also, some outside help never hurt. #restaurants #finance #EBITDA

THE IMPORTANCE OF STRONG RESTAURANT OPERATIONS AND ITS IMPACT ON SUCCESS Restaurants must leverage operational strategies to thrive. As the industry evolves, those who invest in their operations will reap the benefits, ensuring long-term success. By focusing on operational elements, restaurant owners can ensure a successful and sustainable business model that meets the demands of today’s consumers Learn More: 📥 info@frangrow.com 🌐 www.frangrow.com 📲 TEXT "restaurant" to 9179912465 ☎️ (201) 534-5610 Franchise Growth Solutions, LLC. Fred J Kirvan #restaurants #franchisegrowthsolutons

TGI Fridays Inc., the American restaurant chain known for its relaxed atmosphere, happy-hour deals, and beloved comfort foods like mozzarella sticks and loaded potato skins, has filed for bankruptcy protection. The Dallas-based company filed for Chapter 11 bankruptcy in the Northern District of Texas on Saturday, aiming to restructure its business and secure its long-term future, according to a company statement. Executive Chairman Rohit Manocha explained that the company is facing financial pressures, partially due to the impact of the COVID-19 pandemic. Despite the filing, all 39 U.S.-based locations owned by TGI Fridays will continue to operate as usual, while franchise-owned locations—operated by 56 independent franchisees—are not included in the bankruptcy process. Court documents show TGI Fridays’ estimated assets and liabilities each range between $100 million and $500 million. Founded in 1965 in Manhattan, TGI Fridays quickly gained a reputation for its lively atmosphere, especially at happy hours, where large portions and a vibrant social scene attracted singles and groups alike. In 2007, the company adapted to changing customer preferences by introducing smaller portions at lower prices, which proved popular. However, the pandemic hit sit-down dining establishments hard, especially those with significant real estate investments. TGI Fridays operates over 461 locations across 41 countries, but in recent years, customer demand has shifted toward quicker, more affordable dining options. In October, Bloomberg reported that TGI Fridays was exploring financing options in anticipation of a possible bankruptcy filing. The chain, which dropped the apostrophe from its logo in 2013, is privately owned by New York-based private equity firm TriArtisan Capital Advisors. TriArtisan has not provided additional comments. A longtime icon of American casual dining, TGI Fridays is famous for its colorful cocktails and claims to have trained actor Tom Cruise for his role as a bartender in the 1988 movie Cocktail. It also popularized the Long Island Iced Tea. TGI Fridays isn’t alone in its struggles; other casual-dining chains like Buca di Beppo and Red Lobster have recently filed for bankruptcy as the dining landscape continues to evolve. https://lnkd.in/gt6EuU5a https://lnkd.in/dfRD35a https://lnkd.in/g9GtzHhp