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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

Restaurants join the layoff party

 By Jonathan Maze on Jun. 08, 2023

The Bottom Line: Chipotle’s corporate layoffs follow actions by McDonald’s and Wendy’s, though the companies insist it’s not all about any looming recession.

Financing

These are the fast-food chains doing best at beating inflation

 By Jonathan Maze on Jun. 08, 2023

The Bottom Line: Among the biggest limited-service chains, Raising Cane’s and Chick-fil-A have performed best over the past decade at growing unit volumes when adjusted for inflation.

Financing

At Subway, a very public auction draws to a close

By Jonathan Maze on Jun. 06, 2023

The Bottom Line: The company has reportedly narrowed its list of buyers and the price tag is down. But the deal is taking a while to get over the finish line, and here’s why.

Financing

Yum Brands CEO David Gibbs doesn't get his company's stock price decline

By Jonathan Maze on Jun. 02, 2023

The Bottom Line: The owner of Taco Bell, KFC, Pizza Hut and Habit has declined as much as 10% since reporting what Gibbs called a “blowout” first quarter. And the company argues that it could easily weather a downturn.

Financing

Why breakfast is the key to Burger King's future

By Jonathan Maze on May 31, 2023

The Bottom Line: The burger chain’s unit volumes have lagged its competitors. One reason has been a morning daypart that hasn’t quite lived up to expectations. Can the brand’s new management fix it?

Financing

The better-burger revolution that wasn't

By Jonathan Maze on May 25, 2023

The Bottom Line: Remember when the fast-casual burger business was going to take loads of share from traditional fast-food chains? It never quite got there.

Financing

Here come the restaurant IPOs

By Jonathan Maze on May 24, 2023

The Bottom Line: Cava Group’s filing of its initial public offering documents could be the first of a few industry IPOs this year. But restaurant M&A remains weak.

Financing

The end of the pandemic has been tough on virtual brands and ghost kitchens

By Jonathan Maze on May 21, 2023

The Bottom Line: Burger King’s parent closing its KYLO Food Hall and layoffs at Nextbite suggest that some of the biggest ideas to come out of the pandemic are having a tough time making it on the other side.

Financing

Fast-food restaurants need to slow their price increases

By Jonathan Maze on May 19, 2023

The Bottom Line: Operators have kept their foot on the pricing gas this year even as inflation shows signs of easing and profits improve. But with the economy nearing a recession, it’s time to slow down.

Financing

The chicken business has resumed its boneless revolution

By Jonathan Maze on May 18, 2023

The Bottom Line: After consumers spent the pandemic feeding on buckets of bone-in chicken, they shifted back to their boneless options in 2022. And Wingstop.

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