First Watch

Financing

Is one of the restaurant industry's best growth stories being overlooked?

First Watch is opening new restaurants faster than any other large full-service chain in the country. It just wishes more people would notice.

Financing

First Watch sales accelerate as value investments pay off

Same-store sales at the breakfast-and-lunch chain rose at their fastest rate in over two years as customers responded to reasonable prices and larger portions.

The breakfast-and-lunch restaurant chain reported its best same-store sales growth in over a year, thanks in large part to a change in its delivery strategy.

The family-dining chain is investing in larger portions and surprise freebies to win over customers. But profits fell, and so did its share price.

The data-driven strategy will allow the breakfast-and-lunch chain to target ads to individual customers. It is part of the chain’s plan to boost traffic this year.

The breakfast-and-lunch chain is acquiring 15 units, and a 16th under construction, for $49 million. The seller was not identified.

The breakfast-and-lunch chain said it's banking on the pinpoint communications afforded by richer consumer data to reinvigorate traffic, which slid 4.4% in the third quarter.

Two of the key federal agencies involved in the recovery are warning that their funds are being depleted quickly because of the demand.

Meanwhile, its aggressive expansion plan remains in place, with 130 development projects underway.

The segment and its sub-sectors like the buffets market haven't had an easy time post-pandemic, prompting many members of the old guard to arm themselves with shiny new upstarts as future growth vehicles. But there's still plenty of effort being spent on helping the longtime leaders keep their footing, as this look at the Top 10 shows.

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