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The Bottom Line

Jonathan Maze The Bottom Line

Restaurant Business Executive Editor-in-Chief Jonathan Maze is a longtime industry journalist who writes about restaurant finance, mergers and acquisitions and the economy, with a particular focus on quick-service restaurants. He writes daily about the factors influencing the operating environment, including labor and food costs and various industry trends such as technology and delivery.

Jonathan has been widely quoted in media publications such as the New York Times and the Washington Post and has appeared on CNBC, Yahoo Finance and NPR. He writes a weekly finance-focused newsletter for Restaurant Business, The Bottom Line, and is the host of the weekly podcast “A Deeper Dive.”

Financing

How Subway's closures could open the door for growth chains

 By Jonathan Maze on Aug. 30, 2023

The Bottom Line: Ike’s Love & Sandwiches has grown to 100 locations. And a surprisingly big part of its growth strategy involves closed Subway restaurants.

Financing

If you're going to discount, tread carefully

 By Jonathan Maze on Aug. 29, 2023

The Bottom Line: Consumers could easily shift into value mode as they start repaying student loans and run out of pandemic cash. But that doesn’t mean you should start slashing prices.

Financing

Roark Capital solidifies its status as the go-to fast-food buyer

By Jonathan Maze on Aug. 25, 2023

The Bottom Line: The 22-year-old private equity firm has been involved in many of the industry’s biggest deals, especially in recent years. And Subway isn’t even the biggest.

Financing

Subway's complex sale process comes to its expected conclusion

By Jonathan Maze on Aug. 24, 2023

The Bottom Line: The lengthy sale process and the apparent deal terms in Roark Capital’s winning bid reveal just how difficult a turnaround the sandwich giant is.

Financing

Why so many restaurant chains are closing locations right now

By Jonathan Maze on Aug. 23, 2023

The Bottom Line: Veggie Grill, O’Charley’s, Burger King, Boston Market, Steak n Shake and others have been closing doors this year as they work through various challenges.

Financing

In Bloomin' Brands, Starboard finds its next undervalued target

By Jonathan Maze on Aug. 21, 2023

The Bottom Line: The activist investor, who shook up Darden and helped get Papa Johns back on its feet, may be just what the doctor ordered for one of the most overlooked restaurant companies on Wall Street.

Financing

The owner of Jimmy John's makes a run at Subway

By Jonathan Maze on Aug. 21, 2023

The Bottom Line: Roark Capital reportedly has the inside track at buying Subway. But it also owns Jimmy John’s. Can the two chains coexist under the same owner?

Financing

Here's another reason why sales might slow later this year

By Jonathan Maze on Aug. 18, 2023

The Bottom Line: U.S. consumers, which have kept spending at restaurants despite higher prices, are running out of excess pandemic savings. That might affect their spending.

Financing

The restaurant check has grown entirely too complicated

By Jonathan Maze on Aug. 16, 2023

The Bottom Line: Service fees, health care fees, more tipping demands and higher prices have made the process of paying a bill more complex than ever. It may be time to rethink this.

Financing

Restaurant sales clearly decelerated last quarter

By Jonathan Maze on Aug. 14, 2023

The Bottom Line: Earnings reports this period suggest a substantial slowdown in same-store sales among large chains in the second quarter. Are prices to blame? Or is it normalization?

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