earnings

Operations

Struggling BurgerFi shutters 8 more restaurants

After closing 14 units last year, the fast-casual burger chain continued "right-sizing" its portfolio in the first quarter, when its same-store sales plunged 13%.

Operations

Sweetgreen inches closer to profitability

Despite flat traffic for the first quarter, the fast-casual salad chain raised guidance for the year, citing continuing momentum.

A softer consumer environment is more than offsetting the pizza chain’s boost in marketing in recent weeks. But profitability improved last quarter.

Traffic at the casual-dining chain held steady thanks to what it called a “flight to quality” by customers on a budget.

A Deeper Dive: This week’s podcast features a discussion on recent restaurant chain earnings reports, including Wingstop, KFC, Popeyes, Chipotle and Starbucks.

But CEO Drew Madsen sees signs of a turnaround, as sales and traffic turned positive in April while the chain works on menu and operations improvements.

The casual-dining chain lost business from lower-income guests but believes promotions like $1 margaritas will bring them back.

Same-store sales increased 10% in the company’s first quarter as boba, protein coffee and more awareness drove traffic to its shops.

Refranchising is also on the table for Bloomin' Brands' nearly 200 locations in the country, where Outback is very popular.

When lower-income diners are feeling budget strain, the fast-casual Portillo's feels it most in the drive-thru. To address that, the restaurant chain is working to get orders through car windows faster.

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