Quick_Service

Leadership

With charges dropped, Andy Wiederhorn returns as Fat Brands CEO

The chairman of the owner of Fatburger, Fazoli’s and other chains is retaking his position as CEO now that the U.S. Department of Justice has dropped charges against the executive.

Financing

McDonald's turns to Extra Value Meals to reverse its traffic slump

The Bottom Line: The fast-food giant is betting that discounted combo meals will get reluctant customers to come back to its restaurants. It will start with a substantial discount on a Big Mac meal.

The 158-unit coffee chain is pricing its shares between $16 and $18 for its upcoming initial public offering, which would give it a valuation as high as $861 million.

Brian Niccol, CEO of the coffee shop giant, said that the company drew record sales last week after the introduction of its annual fall menu.

The fast-food Mexican chain is bringing back the Cool Ranch Doritos Locos Taco as part of a “Decades Y2K” menu that combines value with nostalgia. There’s even a unique “taco pet” in its mobile app.

The Bottom Line: Survey data from Revenue Management Solutions highlights a key challenge for all operators: Consumers are cutting back on their restaurant spending.

More chains introduced new value offers this week as McDonald’s prepares to cut prices on its combo meals. Yet it comes as industry profitability remains lower than it was before the pandemic.

The Bottom Line: A look at winners and losers from a tough second quarter. Full-service restaurants outperformed limited-service chains. But they didn’t if you don’t factor in Chili’s.

Guests want fast. But what they remember is if it worked when it mattered most.

The Bottom Line: By mandating a 15% discount in its combo meals, the fast-food giant will lower prices an average of 4.6 percentage points. But it will also catch up with the discounts its competitors already provide.

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