El Pollo Loco's Sales Rose 5 Percent and More Industry News

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A roundup of this week’s food industry financial news
 El Pollo Loco's Sales Rose 5.4-Percent and More Industry News
In its first earnings report as a public company, El Pollo Loco reported a 5.4-percent increase in same-store sales in the first quarter.

This week in industry news, Zoe’s Kitchen Inc.’s profit rose 164.5 percent in the second quarter, Hershey Co. will hire a new CFO to succeed David W. Tacka, senior vice-president and CFO, when he retires at the end of the year, and Cargill will acquire Archer Daniels Midland Co.’s chocolate business for $440 million.

Read on for more of this week's biggest financial news in the world of food.

 

Earnings

El Pollo Loco Holdings Inc.: In its first earnings report as a public company, El Pollo Loco reported a 5.4-percent increase in same-store sales in the first quarter.

Zoe’s Kitchen Inc.: The company’s profit rose 164.5 percent in the second quarter.

Yum! Brands: For the third quarter, same-store sales fell about 13 percent.

 

Leadership Change

Hershey Co.: The company will hire a new CFO to succeed David W. Tacka, senior vice-president and CFO, when he retires at the end of the year.

ThinkFoodGroup: Chief operating officer Kimberly Grant was promoted to CEO.

Newk’s Franchise Company: Jim Greco joined the company as chief operating officer, a newly created position.

Jack in the Box: The company named Frances Allen its new president, effective Oct. 27.

Bloomin’ Brands Inc.: Donagh Herlihy was named executive vice president digital and chief information officer of the company.

Popeyes Louisiana Kitchen Inc.: The company promoted Hector Munoz to the newly created position of vice president and chief marketing officer in the United States.

Centerplate Inc.: President and CEO Desmond Hague resigned from the company after he was caught on video in Canada abusing a dog in an elevator.

Tyson Foods Inc.: Hillshire’s president and CEO Sean Connolly resigned from his role in the company.

 

Mergers/Acquisitions

Cargill: The company will acquire Archer Daniels Midland Co.’s chocolate business for $440 million.

Have the inside scoop on a merger or acquisition? Know of a new advertising campaign around a new iconic product? We’re always looking to get ahead of the game, so email us your tips.

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