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Jonathan Maze

Editor-in-Chief

Articles by
Jonathan Maze

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Financing

Restaurants’ finances turned south in a hurry

The Bottom Line: Margins were fine last fall as sales recovered. But high food costs on top of high labor costs have done them in. And some concepts are already feeling the pain.

Financing

McDonald’s has a deal to sell its Russia restaurants to a licensee

Alexander Govor will acquire the company’s entire portfolio, McDonald's said. He has been an operator with the chain in Siberia since 2015.

Stocks plunged once again amid economic worries after Target reported poor results. Restaurant stocks were hit particularly hard.

Kerri Christian will oversee marketing for the company’s specialty category; Tracey Young was named chief brand officer for Cinnabon; Jim Salerno was given the same title with Carvel, where Jessica Osborne will be VP of marketing.

The Bottom Line: Sales at restaurants and bars are now at a higher percentage of Americans’ food dollar than they’ve ever been. They can thank higher grocery prices for that.

A Deeper Dive: Christine LaFave Grace, from Winsight Grocery Business, joins the podcast to talk about inflation, its impact on the retail sector, and how it’s affecting consumers.

Executive changes have become increasingly commonplace coming out of the pandemic and the corner office is no exception. Changes include some of the nation’s biggest concepts.

The Bottom Line: The burger giant has flourished in international markets even as its U.S. growth slowed. But its $1.4 billion decision to pull out of the market demonstrates the risk of global expansion.

Kevin Hochman, president of KFC U.S., will head Chili’s parent company. Dyke Shipp, KFC’s division president, will replace him at KFC for the short-term.

A record 1,700 restaurants changed hands last year and more than a quarter of franchisee units have either closed or been sold since 2019.

A major proxy advisory firm endorsed the company’s directors in its upcoming board election, saying the investor is “economically divorced from the potential impacts of its proposals.”

The company will reimburse workers if the procedures are not available within 100 miles of where they live.

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