Latest News
Adults going out less often, study finds
6/22/2010
Even as the economy begins to improve, U.S. adults are still limiting their visits to bars and restaurants, according to new research by The Nielsen Co. In a May survey of 7,500 consumers of legal drinking age, more than half, or 58 percent, reported patronizing casual restaurants less often than they did before the economic downturn. Sixty-percent said they are going to fine-dining establishments less frequently, according to Nielsen.
Read more: Nation's Restaurant News
Restaurants struggle to wean customers off deals
6/22/2010
Restaurants are struggling to wean customers from the steady diet of deals they have offered in recent years, underscoring the fragility of the industry's recovery at a time of high unemployment. On Monday, California Pizza Kitchen Inc. said its second-quarter same-store sales would fall between 6% and 7%, much worse than its prior forecast of a 0.5% to 2.5% decline. The company, known for Jamaican jerk chicken and other gourmet pizzas, attributed a large part of the drop to not running its "Thank You Card" promotion, which offered discounts or cash prizes when customers came back for another meal, as it had in previous years.
Read more: The Wall Street Journal
Luby's to purchase Fuddruckers for $63 million
6/20/2010
Cafeteria chain Luby's Inc. has won the bidding war to purchase most of the assets of Fuddruckers Inc., its parent Magic Brands LLC, and their affiliates for $63.45 million in cash. Luby's bought the assets Thursday during a bankruptcy auction. In a story in the Wall Street Journal, the Houston-based cafeteria chain will assume some of Fuddruckers' obligations, real estate leases and contracts. It also will pay $2.45 million more in cash if it doesn't assume some contracts.
Read more: Fast Casual
House passes bid to boost small-business loans
6/17/2010
The U.S. House approved legislation Thursday to create a $30 billion fund to boost lending to small businesses through community banks. The vote was 241-182. The bill will now be combined with a $3.5 billion package of tax cuts directed at small businesses, which the House passed earlier this week and sent to the Senate for approval. "This bill will increase credit to small businesses and get them back on their feet, and help them continue to add jobs," Rep. Ed Perlmutter (D., Colo.) said during House floor debate.
Read more: The Wall Street Journal
6/1/2010
As of today I will be working as a Hospitality Consultant for Bar Louie! Check out their homepage at www.barlouielexington.com and stop by soon and enjoy this summer weather on our patio!
5/4/2010
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New Restaurant.org newsletter is out and headlines include:
- New Food Safety Efforts
- Association Monitors Impact of Gulf Coast Oil Spill
- Maximizing Your Gift Card Marketing
Click here
4/8/2010
Check out what Forbes has to say about the top 10 fastest shrinking restaurant chains!Stan Warr © 2010. All rights reserved
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