Papa Johns has a new permanent CEO and his name may sound familiar to anyone who follows the restaurant industry. Todd Penegor, former CEO and president of Wendy’s, was officially announced as the pizza chain’s leader, about five months after his predecessor Rob Lynch left for Shake Shack.
Rubio’s is being sold to its lender. The bankrupt fast-casual Mexican chain canceled its auction after no bidders were willing to beat the $40 million credit bid from TREW Capital Management, the investment firm run by Jeff Crivello.
Shake Shack reported a 4% increase in same-store sales for the 2nd quarter, ended June 28. That was the 14th consecutive quarter of increased comps for the New York City-based fast-casual burger chain.
McDonald’s $5 Meal Deal is generating profits and traffic for the chain. According to a system message, seen by Restaurant Business, the chain picked up 3 percentage points of traffic on its competition in the month the offer was available.
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