Comps
One of the most common errors in the financial statements of restaurants is the incorrect recording of food and beverage comps — food or beverage served free of charge, or sold at prices lower than normal retail.
Ask the butcher
Q&A with Ron Savenor
At every step, a chef controls the flavor of a dish. At the same time, every chef is limited by his or her customers’ expectations and what they are willing to pay. Regardless of what type of budget or kitchen is at the chef’s command, any cook worth his or her salt knows that a mediocre chef can ruin high-quality, expensive ingredients, but a talented chef can turn ordinary or inexpensive ingredients into something fabulous.
The CEO of 7-Eleven could have boasted about the inroads his chain has made into a market that was once owned by attendees of the Restaurant Leadership Conference. Joe DePinto certainly had the sales numbers to support a little braggadocio: $2.7 billion from fresh food, $5 billion from beverages, 1 million cups of coffee, 100 million fountain drinks.