The restaurant chain, known for its pizza and arcade games, is exploring an auction process with Goldman Sachs. According to the sources, the auction process may attract esteemed private equity firms as well as peers such as Dave & Busters Entertainment. The restaurant chain’s parent company, CEC Entertainment, stated to investors that it expects to rake in $1.2 billion in revenue and $195 million in earnings before interest, taxes, depreciation and amortization (EBITDA) this year.

Acquired by Apollo Global Management Inc. in 2014 for $1.3 billion, Chuck E. Cheese filed for bankruptcy in June 2020 as it reeled from the effects of the COVID-19 pandemic. The company overturned its bankruptcy in December 2020 after ownership in the company was transferred to its creditors, including Monarch Alternative Capital and Redan Advisors, who agreed to erase the company’s $705 million debt.

The post Chuck E. Cheese Exploring Sale Amid Interest appeared first on theprimarymarket.com.

Wingstop led the charge with a 20.15 rise in same-store sales over the first quarter, while McDonald’s, Starbucks, and Subway each saw a rise of 12.6%, 12%, and 11.7% respectively. Chipotle, Shake Shack, and Taco Bell saw a rise in same-store sales as well.

BTIG managing director Peter Saleh claimed that this rise is a welcome surprise to many investors who would have expected rising prices to deter consumers.

Papa John’s CEO Rob Lynch stated during a call with investors that consumers have been shifting towards prioritizing value over saving money. “We’re definitely entering into a period if we’re not already all the way there…value is going to become more important than it has been over the last 3 years and so it’s critical for us to have a compelling and successful value strategy.”

YUM! Brands CEO David Gibbs claimed that his company tends to “flourish” in tough times, especially because of consumers’ gravitation towards value rather than price points. YUM! Brands own multiple fast food franchises including Taco Bell, KFC, and Pizza Hut.

The post U.S. Restaurant Spending Sustained Despite Price Rises appeared first on theprimarymarket.com.

The company’s revenue of $1.63 billion was accurately forecast by analysts, as was its’ adjusted earnings per share of $1.13. Same-store sales were up by 8% over the first three months of 2023, thereby beating estimates of a 5.76% rise.

KFC proved to be the frontrunner, with same-store sales growth of 9% compared to an expected 6.74% rise. Pizza Hut’s same-store sales were up 7%, compared to an expected 3.27% rise, while Taco Bell’s growth was 8%, exceeding an expected 6.39% growth. Habit Burger Grill’s same-store sales were up by 2.66%, thereby meeting Wall Street estimates.

Shares in Yum! Brands rose by a little under 1% during Wednesday’s session, however, the stock has proven to perform well this year, rising 11% for the year to date. The restaurant company’s stock is therefore outpacing the S&P 500’s 7.2% growth for the year to date.

The post Taco Bell, KFC Parent Company Yum! Brands Meets Expectations With Q1 Earnings appeared first on theprimarymarket.com.

Other results included Adjusted earnings per share of -$0.06, narrowly outpacing estimates of -$0.11, as well as a same-store sales increase of 5.1%, falling marginally short of an estimated 5.16% rise. Shake Shack’s stock was up during premarket trading before declining by 6% during Thursday’s morning session.

For the full fiscal year, Shake Shack’s revenue was $900.5 million; up 21.7% from 2021. While same-store sales rose by 7.8%, system-wide sales increased by 22.7%. Despite this earnings increase, the fast-food franchise incurred an operating loss for the year of $26.9 million.

Throughout 2022, the company opened 36 new locations across the U.S. as well as 33 new licensed shacks and four new markets in China. In 2023, Shake Shack intends to open almost 40 new U.S. locations in addition to 25 to 30 licensed locations abroad. CEO Randy Garutti further revealed last month that the company is looking to open 10 to 15 more drive-thrus as well. Currently, the company operates 11 drive-thru locations, nine of which were opened in 2022.

The post Shake Shack Earnings in Line With Expectations appeared first on theprimarymarket.com.

Chief Executive Officer Dominic Paul stated that the company will be increasing its media spending in order to fuel more customer engagement. “We will be increasing our media spend in the second half compared to the first half, amplifying our value message to customers as we head into key events such as the men’s football World Cup”, Paul announced.

For the 26 weeks ended June 26, Domino’s Pizza reported sales of 710.5 million pounds ($869.01 million), compared to 752.3 million pounds a year earlier. Profit before tax came to 50.9 million pounds. CEO Dominic Paul is set to depart from the company in December, assuming his role as the head of Premier Inn-owner, Whitbread.

The post Domino’s UK Reports Declining Profit in First Half of 2022 appeared first on theprimarymarket.com.

The restaurant chain, known for its pizza and arcade games, is exploring an auction process with Goldman Sachs. According to the sources, the auction process may attract esteemed private equity firms as well as peers such as Dave & Busters Entertainment. The restaurant chain’s parent company, CEC Entertainment, stated to investors that it expects to rake in $1.2 billion in revenue and $195 million in earnings before interest, taxes, depreciation and amortization (EBITDA) this year.

Acquired by Apollo Global Management Inc. in 2014 for $1.3 billion, Chuck E. Cheese filed for bankruptcy in June 2020 as it reeled from the effects of the COVID-19 pandemic. The company overturned its bankruptcy in December 2020 after ownership in the company was transferred to its creditors, including Monarch Alternative Capital and Redan Advisors, who agreed to erase the company’s $705 million debt.

The post Chuck E. Cheese Exploring Sale Amid Interest appeared first on theprimarymarket.com.

Wingstop led the charge with a 20.15 rise in same-store sales over the first quarter, while McDonald’s, Starbucks, and Subway each saw a rise of 12.6%, 12%, and 11.7% respectively. Chipotle, Shake Shack, and Taco Bell saw a rise in same-store sales as well.

BTIG managing director Peter Saleh claimed that this rise is a welcome surprise to many investors who would have expected rising prices to deter consumers.

Papa John’s CEO Rob Lynch stated during a call with investors that consumers have been shifting towards prioritizing value over saving money. “We’re definitely entering into a period if we’re not already all the way there…value is going to become more important than it has been over the last 3 years and so it’s critical for us to have a compelling and successful value strategy.”

YUM! Brands CEO David Gibbs claimed that his company tends to “flourish” in tough times, especially because of consumers’ gravitation towards value rather than price points. YUM! Brands own multiple fast food franchises including Taco Bell, KFC, and Pizza Hut.

The post U.S. Restaurant Spending Sustained Despite Price Rises appeared first on theprimarymarket.com.

The company’s revenue of $1.63 billion was accurately forecast by analysts, as was its’ adjusted earnings per share of $1.13. Same-store sales were up by 8% over the first three months of 2023, thereby beating estimates of a 5.76% rise.

KFC proved to be the frontrunner, with same-store sales growth of 9% compared to an expected 6.74% rise. Pizza Hut’s same-store sales were up 7%, compared to an expected 3.27% rise, while Taco Bell’s growth was 8%, exceeding an expected 6.39% growth. Habit Burger Grill’s same-store sales were up by 2.66%, thereby meeting Wall Street estimates.

Shares in Yum! Brands rose by a little under 1% during Wednesday’s session, however, the stock has proven to perform well this year, rising 11% for the year to date. The restaurant company’s stock is therefore outpacing the S&P 500’s 7.2% growth for the year to date.

The post Taco Bell, KFC Parent Company Yum! Brands Meets Expectations With Q1 Earnings appeared first on theprimarymarket.com.

Other results included Adjusted earnings per share of -$0.06, narrowly outpacing estimates of -$0.11, as well as a same-store sales increase of 5.1%, falling marginally short of an estimated 5.16% rise. Shake Shack’s stock was up during premarket trading before declining by 6% during Thursday’s morning session.

For the full fiscal year, Shake Shack’s revenue was $900.5 million; up 21.7% from 2021. While same-store sales rose by 7.8%, system-wide sales increased by 22.7%. Despite this earnings increase, the fast-food franchise incurred an operating loss for the year of $26.9 million.

Throughout 2022, the company opened 36 new locations across the U.S. as well as 33 new licensed shacks and four new markets in China. In 2023, Shake Shack intends to open almost 40 new U.S. locations in addition to 25 to 30 licensed locations abroad. CEO Randy Garutti further revealed last month that the company is looking to open 10 to 15 more drive-thrus as well. Currently, the company operates 11 drive-thru locations, nine of which were opened in 2022.

The post Shake Shack Earnings in Line With Expectations appeared first on theprimarymarket.com.

Chief Executive Officer Dominic Paul stated that the company will be increasing its media spending in order to fuel more customer engagement. “We will be increasing our media spend in the second half compared to the first half, amplifying our value message to customers as we head into key events such as the men’s football World Cup”, Paul announced.

For the 26 weeks ended June 26, Domino’s Pizza reported sales of 710.5 million pounds ($869.01 million), compared to 752.3 million pounds a year earlier. Profit before tax came to 50.9 million pounds. CEO Dominic Paul is set to depart from the company in December, assuming his role as the head of Premier Inn-owner, Whitbread.

The post Domino’s UK Reports Declining Profit in First Half of 2022 appeared first on theprimarymarket.com.