Fast_Casual

Financing

Restaurants lost customers and sales at the end of last year

Same-store sales at restaurants slowed markedly in the second half of 2023. But for all the concern about fast-food brands like McDonald's, it was casual-dining restaurants that had the biggest problem.

Leadership

Shake Shack names Rob Lynch CEO

The fast-casual burger chain is plucking the Papa Johns chief executive to take over for Randy Garutti in May. Ravi Thanawala will become the pizza chain’s interim CEO.

The fast-casual Mexican restaurant chain is also giving general managers and longtime employees a one-time equity grant. The stock split, the company's first in its history, will take place in June.

The fast-casual brand was in freefall before it filed for bankruptcy last year. But improved operations and marketing, and a lot of hard work, have helped the chain turn the corner.

Longtime former employees exited the company as stores closed or paychecks stopped showing. But they’ve since been hit with surprise medical bills, and they’ve found themselves unable to file taxes or collect unemployment benefits.

The Washington, D.C.-based chain has a (sort of) new CEO who has made lots of changes. His message to workers: Uncover those neck tattoos and crank up the music. You can be you.

A Deeper Dive: Chris Dharod, CEO of the fast-casual chain, joins the podcast to discuss its comeback from last year’s bankruptcy filing.

The owner of the rotisserie chicken chain also had his second bankruptcy filing terminated over technical issues, and this time is banned from filing another one.

The sandwich chain said its fast-growing digital business is shifting customers away from third-party channels, with loyalty membership growing nearly 90% during the fourth quarter.

A Deeper Dive: Justin Rosenberg, the founder of Honeygrow, joins the Restaurant Business podcast to talk about how it got back on the right track.

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