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August 19, 2024
How does Brian Niccol solve a problem like Starbucks? The Chipotle CEO was named chief executive of the coffee shop giant last week, sending shockwaves through the industry. Niccol certainly has the chops for the job, having helped Chipotle regain its mojo after he took that job in 2018, when that chain was struggling with weak sales and had an activist investor.
Subway is looking for a new value offer as its sales slump. The sandwich giant plans to sell footlong subs for $6.99 for two weeks starting on August 26, several sources told Restaurant Business.
Now that the dust has mostly settled on Q2, we have a better idea of how California’s 25% minimum wage hike is impacting restaurants in the state. The increase went into effect April 1, meaning Q2 was the first full quarter operators had to contend with the added cost and the takeaway is a bit mixed.
Portillo’s has an activist investor. The hedge fund Engaged Capital on Thursday disclosed a nearly 10% stake in the Chicago-based chain, saying it is looking for a turnaround.
Get all the headlines in today’s Restaurant Daily podcast.
