Fast Casual Picks Up The Pace

The Wall Street Journal: “TGI Fridays, a 53-year-old brand that came under new management last summer, is working to improve the dining experience for people who eat at the restaurants … The privately held company has redesigned about half of its 440 U.S. restaurants, some of which now have open kitchens. It switched to a blend of chuck and brisket for its burgers, from ground sirloin and chuck; launched a meatless burger; and moved to meatier ribs. The chain has seen a 15% sales increase from menu items that have been improved since October 2017.”

“Red Lobster had declining sales when it was owned by Darden, but it has been gaining back customers, opening new restaurants and growing its takeout business since being acquired by Golden Gate Capital in 2014 … The company added smaller tasting plates with more urbane dishes like tuna poke. It began offering online ordering in January and is experimenting with new store designs that include a dedicated takeout area. The 749-unit chain also is delivering food.”

“Private-equity firm NRD Capital Management bought the struggling Ruby Tuesday chain last year, after it closed 100 restaurants … developing healthier dishes and returning to its Southern roots with new menu items such as the Smoky Mountain chicken sandwich and Hickory Bourbon salmon.” Aziz Hashim of NRD comments: “Casual dining is not going anywhere, it just has to be reinvented.”

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