Weekly Food Industry Report: The Week of March 24, 2014
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:
Ignite Restaurant Group Inc.: Chief marketing officer Robin Ahearn will step down on April 1 to create a new company called Norton Creative. Representatives at Ignite Restaurant Group say the company will not hire a replacement.
Panera Bread Co.: The company is preparing to launch upgrades which it is calling “Panera 2.0.” These upgrades will focus on kiosk and mobile ordering, operational modifications, and plans for smaller restaurants.
Newk’s Holding Company LLC: Newk’s Eatery’s parent company was acquired by Sentinel Capital Partners.
Sonic Drive-In Corp.: In the second quarter, the company’s same-store sales rose 1.4 percent, however, it’ revenue dropped 1.3 percent.
Darden Restaurants Inc.: The company’s profit fell 18.4 percent in the third quarter.
We’re always on the lookout for new financial news, so let us know!