steak

Financing

Beef costs hit a record, and then screwworm was found in Texas

The flesh-eating parasite has been found in Texas and New Mexico, threatening to prolong an inflationary cycle that has taken beef prices to record territory.

Financing

Steakhouse group 801 Restaurants files for Chapter 11 bankruptcy

The Kansas-based company operates eight restaurants in seven cities and recently closed a location in Minneapolis.

The New York fine-dining restaurant has been associated with the financial district for nearly 200 years. Next year, a new iteration is coming.

The Brazilian steakhouse chain is in a prime position to meet changing consumer habits, including more protein and greater use of GLP-1s, Barry McGowan said.

The full-service chain is hitting a sweet spot for value-conscious consumers, who are trading up and down to visit the growing brand, even at lunch.

Sales and traffic continue to rise for the steak chain, but an unexpected rise in beef prices took a bite out of its bottom line. They’re expected to remain elevated for the foreseeable future.

Bloomin’ Brands plans to improve steak quality, service and atmosphere at the struggling casual-dining chain. It’s also closing more locations.

But the casual-dining chain still has work to do on service and steak quality, and parent company Bloomin’ Brands also dimmed its annual earnings forecast.

Behind the Menu: New executive chef Luis Moreno is elevating the menu without complicating operations for the fast casual’s franchisees, starting with a bowl that pushes the boundaries of flavor.

Menu Talk: Pat and Bret discuss the latest flavor trends and share an interview with Danny Grant, chef-partner in Maple Hospitality Group.

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