This week, we’re going to be talking about some outliers. During the first half of earnings season, we have an idea of what the industry looks like and the results are not great. Most companies are seeing positive same-store sales in the low single digits. Except for Texas Roadhouse and Wingstop. The two brands on very different ends of the spectrum both saw higher than average sales growth with Wingstop seeing over 20% same-store sales growth. And Texas Roadhouse? It’s expected to surpass Olive Garden and Applebee’s very soon.
Also, we’re going to be talking about the new Focus Brands which this week rebranded as GoTo Foods. The new name is based on the company’s reputation as the “go-to choice” in the restaurant industry. The company said that this is meant to signal a new stage of growth which is saying something after the brand’s past few years. While signing over 1,000 franchisees last year, executives said they’re not done growing the portfolio.
Finally, we’re going to be talking about the future of technology. Apple made waves when it introduced the Apple Vision Pro and now some restaurant companies are investing in technology to join in on the trend. Crumbl has already worked on a way to allow customers to order via the headsets. Will this investment in the technology fizzle out for restaurants the same way the metaverse did?
This week’s guest is Liz Matthews, chief food innovation officer at Taco Bell.