Weekly Food Industry Report: The Week of February 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:
Wendy’s Co.: Net income for the fast food chain rose 25 percent and its full-year profit increased more than six times the net income from fiscal 2012.
Carrols Restaurant Group Inc.: In the fourth quarter, the company, which is the largest franchisee of Burger King, narrowed its net loss to $2.1 million.
Popeyes Louisiana Kitchen Inc.: Fourth quarter profits fell 18.6 percent; however, overall profits for the 2013 fiscal year rose 12.2 percent, to $34.1 million.
Bloomin’ Brands Inc. The company announced it will close about 22 underperforming Outback Steakhouse units by the end of the first quarter of 2014, aiming to make room for new growth. Still, in the fourth quarter, the company’s profit more than tripled.
Papa John’s International Inc.: Same-store sales rose 9 percent in North America and 7 percent internationally in the fourth quarter, leading to an 8.3 percent increase in profit for the quarter.
Bravo Brio Restaurant Group Inc.: In the fourth quarter, the company’s profit dropped due to heavy asset impairment charges.
Domino’s Pizza Inc.: Same-store sales rose in the 2013 fiscal year by 3.7 percent in the U.S. and by 7 percent internationally, while its full-year profit increased by 27.2 percent.
Cracker Barrel Old Country Store Inc.: In the second quarter, the company’s same-store restaurant sales fell .6 percent and its same-store retail sales dropped 3 percent.
Texas Roadhouse Inc.: For the 2013 fiscal year, the company’s profit rose 23 percent, marking its fourth consecutive year of positive same-store sales.
Applebee’s: President Michael Archer has stepped down from his position to pursue other opportunities and is replaced by Steven Layt, previously the senior vice president of operations for Applebee’s.
Blaze Fast-Fire’d Pizza: The company appointed its first CFO, Allen Arroyo, who previously served as CFO for Z’Tejas from May 2011 through December 2013 and as CFO for the Mastro’s Restaurants steakhouse chain from April 2007 through April 2011 before that.
World of Beer: Ken Cruley has been named CFO and Terry Haley vice president of marketing.
Starbucks: The company announced that its CEO Andy Mack is retiring.
We’re always on the lookout for new financial news, so let us know!
26 Online Ordering Statistics Every Restaurateur Should Know in 2020
You’ve heard it before and you’ll hear it again: the popularity of online ordering is on a meteoric rise. From giants like Amazon to small startups, direct-to-consumer delivery and pickup options have swept the country – and restaurants are no exception. Ordering food online or through a mobile app took off in 2019 and it will only grow further and faster in 2020.
With the rise in mobile and online ordering across industries, consumers have turned to solutions that simplify their lives and even the biggest skeptics are translating their dining experience into an online ordering solution integrated with their restaurant POS system to better serve guests. But just how important is providing online ordering for your digital customers?
See how much third-party online ordering apps are really costing you with our free Online Ordering Calculator.
(For the week ending Wednesday, May 19, 2021)
- Natural gas spot price movements were mixed this report week (Wednesday, May 12 to Wednesday, May 19). The Henry Hub spot price fell from $2.90 per million British thermal units (MMBtu) last Wednesday to $2.88/MMBtu yesterday.
- The price of the June 2021 NYMEX contract was unchanged Wednesday to Wednesday at $2.964/MMBtu. The price of the 12-month strip averaging June 2021 through May 2022 futures contracts climbed 2¢/MMBtu to $3.025/MMBtu.
- The net injections to working gas totaled 71 billion cubic feet (Bcf) for the week ending May 14. Working natural gas stocks totaled 2,100 Bcf, which is 16% lower than the year-ago level and 4% lower than the five-year (2016–2020) average for this week.
- The natural gas plant liquids composite price at Mont Belvieu, Texas, rose by 12¢/MMBtu, averaging $7.61/MMBtu for the week ending May 19. The price of ethane rose 3% week over week, as robust domestic petrochemical activity and increased pace of loadings at Gulf Coast export terminals increase total demand to what we estimate will be the highest levels to date. Prices of propane rose 1% week over week, reflecting a relatively flat market for this time of year. EPA’s waiver of gasoline RVP limits related to the Colonial Pipeline shutdown remained in place through May 18, allowing for higher blending of butanes into motor gasoline and for average week-on-week prices of normal butane and isobutane to rise by 4%, and 3%, respectively. The price of natural gasoline fell by 1%, following the Brent crude oil price, which also declined 1% week over week.
- According to Baker Hughes, for the week ending Tuesday, May 11, the natural gas rig count decreased by 3 to 100, losing some of the gain from last week, when Baker Hughes reported a 7-rig increase. The number of oil-directed rigs rose by 8 to 352 the largest gains in oil-directed rigs were reported for Louisiana, where Baker Hughes reported a 3-rig increase in the offshore. The total rig count increased by 5, and it now stands at 453.
Easter egg fun with grandchildren
It’s the last day of March. The rain during the night brought colder temperatures this morning. Friday will be Good Friday so everyone will be off work. Sunday is Easter—we give thanks to our dear Savior Jesus Christ who died on the cross so we can be saved from our sins. We have so many blessings. Do we appreciate them enough? It takes daily prayers to be parents to our dear children and grandparents to our dear grandchildren. Do we set enough of a good example for them? It is good we don’t know what the future holds, but we do know in whose hands it is…God. May he keep being our guide into the future.
Yesterday daughter Susan and children, daughter Verena, sister Emma and son Steven, niece Emma and children, sister Verena, son Kevin, and I spent the day at daughter Elizabeth’s house. Steven came after school (which they have until noon right now).
Elizabeth cooked 10 dozen eggs for the children to color. Did they ever have a ball with it! A big mess but lots of fun. Abigail, 4, Jennifer, 3, T.J., 2, Jessica, 2, Ryan, 20 months, and Allison, 1, did the egg coloring. Baby Menno (niece Emma’s baby) is eight months, so he didn’t help. T.J. and Jessica liked to smash their egg at first. Allison had her first egg peeled and was coloring the egg without the shell. It was so cute to watch all of them.
Elizabeth made a low-carb bacon cheeseburger casserole for lunch and also had deviled eggs and sliced cheese. Lettuce salad, pretzels and dip, pickles, blueberry pie, cookies, and chocolate pudding were brought in by all of us ladies. Elizabeth is pre-diabetic, so she tries to eat low-carb and no sugar meals. The casserole is low-carb and I asked her for the recipe, so I can share it.
The past few months I have been cooking a lot of low-carb, no sugar meals for Joe and I and the family. I had one slice of bread in two months so that is a change for me. If any readers have good low-carb recipes I would appreciate them. Joe and I both feel better eating like this and it has helped us shed a few pounds which is always good. Most of all though is that it makes us feel better.
I haven’t done too much baking lately, but daughters Susan and Verena brought monster cookies that Verena and Jennifer baked. Sister Verena sent over chocolate chip cookies she made. So, for the ones in the family that still like some sweets, it was nice to have those on hand.
Family members enjoyed getting together and had a ball coloring hard boiled eggs for Easter. Photo provided.
Elizabeth sent colored eggs home with all of us yesterday, so I have some for Easter. I want to go look for dandelion greens to make dandelion salad and dice some of the colored eggs in it (after they are peeled, of course). I love dandelion green salad with bacon or some fresh ham from the freezer.
Joe wants to see if he can dig up a little horseradish root to make fresh horseradish to have with colored eggs on Easter. That’s a tradition we always have, horseradish and colored eggs on Easter.
Tim and Elizabeth have 10 baby chicks and 2 baby ducks in a tote in their house that they bought this week. It was a full-time job for Elizabeth to keep the children away from the chicks. T.J. was riding a sit and scoot toy which has room under the seat. Someone discovered he had the 2 ducks and a few chicks under the seat. They were rescued and put back with the rest. He wanted to give them a ride. Abigail and Jennifer were playing with their dolls when Elizabeth discovered they had snuck 4 baby chicks to play with. Needless to say, Elizabeth will be glad when the chicks are big enough to put in the chicken coop. God’s blessings and a blessed Easter to all.
Low Carb Bacon Cheeseburger Casserole
1/2 pound bacon
1 pound ground beef
1/2 sweet onion, diced
1 clove garlic, minced
4 tablespoons cream cheese
2 tablespoons reduced sugar ketchup
1 tablespoon yellow mustard
1 tablespoon Worcestershire sauce
1 teaspoon seasoned salt
4 large eggs
1/4 cup heavy cream
1 teaspoon pepper
1 teaspoon hot sauce
8 ounces grated cheese
1 teaspoon fresh dill (optional)
Dice the bacon in small pieces and fry until crisp. Remove bacon from pan and set aside. Drain grease from pan and add the ground beef to skillet and cook until browned, crumbling as it cooks. Drain fat, add onion and garlic, and cook a little. Add the cream cheese, ketchup, mustard, Worcestershire sauce, and seasoned salt to the skillet and cook over low heat stirring constantly. Spread the beef mixture into an 8 inch baking dish. Top with cooked bacon. Crack the eggs in a bowl and whisk together with the heavy cream until combined. Stir in the pepper and hot sauce. Pour egg mixture over the beef and bacon. Top with grated cheese. Bake at 350 degrees for 30 minutes or until set and golden on top. Sprinkle with dill before serving.