Weekly Food Industry Report: The Week of April 7, 2014

Contributor
A roundup of this week’s food industry financial news
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Ruby Tuesday plans to close six to nine restaurants over the next quarter.

Every week, we take a look into some of the biggest financial news to emerge from the world of food. Here is this week’s:

Ruby Tuesday Inc.: Tough times continue for the casual dining titans, as Ruby Tuesday Inc. announced a third quarter loss of 3.8 percent. The company plans on closing six to nine additional restaurants over the next quarter.

Buffalo Wild Wings Inc: The rapidly growing Buffalo Wild Wings Inc. has announced plans to expand even more aggressively in the coming years, with an aim to extend internationally and grow their North American locations from roughly 1,000 to 1,700 over the next decade.

Zoe’s Kitchen Inc.: Plano, Texas-based Mediterranean fast-casual restaurant Zoe’s Kitchen became the restaurant industry’s first IPO of the financial year.

Yum! Brands Inc: Yum Brands franchise Al Kout Food Company has opened their first Pizza Hut location in Iraq. The restaurant is located in the Kurdistan capitol of Erbil, and is one of five Pizza Hut’s planned for the city.

Tavistock Restaurants LLC: John T. Bettin, previously of the Palm Resort Group, Morton’s of Chicago, and Potbelly Sandwich Works LLC, has been named the new CEO of Tavistock Restaurants LLC’s upscale brand, which includes Joe’s American Bar & Grill and Sapporo.

We’re always on the lookout for new financial news, so let us know!

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