Weekly Food Industry Report: Oct. 4, 2013
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:
Bennigan's: One of America's most iconic restaurant chains, Bennigan's, announced that it has made a Master Franchise Agreement with Suri Hospitality International to open 50 locations throughout India, according to a press release. Its first new location is scheduled to open in Mumbai in the spring of 2014. The agreement includes Bennigan's and Bennigan's on the Fly concepts.
Captian D's: In 2013's third quarter, Captain D's, a fast-food seafood chain, continues its record-setting performance, boasting another quarter of positive same-store sale increases and marking 26 consecutive months of sales growth, according to a press release. The chain finished the third quarter at 3.2 percent same-store sales growth system-wide, with increases of 2.5 percent for franchise restaurants and 3.8 percent for company locations. System-wide same-store sales growth for the third quarter in the last two years was 14.1 percent.
Dunkin' Donuts: America's quick-stop donut and coffee shop Dunkin' Donuts will expand throughout Northern Colorado. New franchisees Doug Patteson and Cameron Stapleton will develop three new restaurants surrounding the areas of Fort Collins, Loveland, Greeley, Windsor, and Estes Park. The first new location is scheduled to open in 2015 and the remaining locations by 2017.
McCalister's: McAlister's reported a same-store sales increase of 4.9 percent during 2013's third quarter and year-to-date same-store sales at 5.4 percent, marking the 13th straight quarter of positive sales growth, according to a press release. Comp sales were driven primarily by an increase in entrée sales as a result of system-wide traffic gains. This year, McAlister's will open 15 restaurants as well as has signed development agreements for an additional 45 locations.
MOOYAH Burgers, Fries & Shakes: Texas-based burger chain MOOYAH Burgers, Fries & Shakes announced a growth plan targeting Missoula, Great Falls, Mont., and Cheyenne, Wyo. The goal of the franchise is to add 60 to 80 jobs throughout these cities by the end of 2014.
SmallCakes Cupcakery: SmallCakes Cupcakery, a popular U.S. cupcake brand which specializes in fresh-baked, gourmet cupcakes and has more than 55 locations, partnered with Dubai-based GLEE Hospitality Solutions to expand to the Middle East, according to a press release.
We're always on the lookout for new financial news, so let us know!