When looking at restaurant stocks, one could hardly find two more formidable fast-food empires than McDonald's (NYSE: MCD) and Yum! Brands (NYSE: YUM). With almost 39,000 locations and over 50,000 locations, respectively, these mature businesses have moved beyond their high-growth phase.
Prime storefronts left empty by failed businesses. As the coronavirus permanently shutters some small businesses, big fast-food brands like Domino's Pizza, Chipotle and Wendy's that were doing well before the crisis want to grow - or continue pre-existing expansion plans - after the pandemic subsides. David Deno, chief executive officer of Outback Steakhouse parent company Bloomin' Brands, told Reuters in an interview that "I don't mean to wish ill on anybody, but there's going to be real estate opportunities," for new stores or relocations to areas with "better visibility, better access and better parking."
Yum Brands' KFC is vying for the crown as king of fast fried chicken, unveiling a larger premium chicken sandwich to compete with Chick-fil-A, Shake Shack and Restaurant Brands' Popeyes. KFC called its new sandwich "bigger and better" than its current sandwich, which has been underrepresented in a recent viral debate over fast-food-chicken supremacy. "We wanted a chicken sandwich that really lives up to our legacy as the fried chicken experts and, let's face it, ours wasn't the one to beat," said Andrea Zahumensky, chief marketing officer of KFC U.S.
Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (TSX: EGLX)(ENGMF)(FSE:2AV) is excited to announce that the Vancouver Titans have entered into a new partnership agreement with Pizza Hut Canada designating Pizza Hut as the Official Pizza of the team and their fans. “We are incredibly thrilled to deliver this exciting partnership to our fans and can’t wait to make Pizza Hut an integral part of the Titans gameday experience,” said Tim Holloway, Esports Director at the Vancouver Titans.
Yum! Brands, Inc. Declares Quarterly Dividend of $0.47 Per Share
Papa John’s reported same-store sales in North America surged 33.5% during the month of May, up from 26.9% in April, according to a business update released by the company Wednesday. Yahoo Finance's Heidi Chung joins Zack Guzman to discuss.
Papa John's CEO Rob Lynch says business is on a major upswing during the COVID-19 pandemic.
KFC announced Tuesday that it will ramp up the chicken sandwich war with a test of a new chicken sandwich in Orlando for a limited time. The test sandwich will be 20% bigger than the one currently offered, is double-breaded, will come on a new brioche bun and will be available in spicy or classic. The pickles also got an upgrade, with the brand testing thickness and brines before choosing one for the sandwich. KFC is part of the Yum Brands Inc. portfolio. Yum Brands stock was up 2.4% in Tuesday premarket trading, but is down 13.4% for the year to date. The S&P 500 index has fallen 8.5% for 2020 so far.
Stifel analysts upgraded Yum! Brands and Restaurant Brands International to Buy from Hold, which reflect their “increased appetite for investing in fast food companies with durable business models.” Furthermore, the analysts think fast food restaurants will remain better-positioned after reopening post-COVID.
States across the U.S. are beginning to reopen parts of their economies, and a surprising number of consumers are willing to visit restaurants as soon as they reopen, according to a new survey by Piper Sandler.
KFC is jumping into the chicken sandwich wars with a new chicken sandwich test.
Fast food giant Taco Bell is ramping up hiring and announced today that it will be hiring 30,000 workers this summer.
The probability that U.S. restaurants will default has soared in recent weeks as a result of the devastating COVID-19 pandemic, according to S&P Global Market Intelligence.
Prom, birthdays, and graduations. The list of missed moments over the last few months is too long to count. While those memories can't be replaced, America's dairy farmers and Pizza Hut joined forces to help bring some much-needed joy to mark a milestone worth celebrating in a big way. Together, they are honoring the High School Class of 2020 by giving away half a million pizzas to graduates and their families – because nothing makes a party better than pizza. And, last night on The Tonight Show Starring Jimmy Fallon, Mr. Fallon himself joined in on the fun by announcing the pizza giveaway.
The global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.
The restaurant sector will take time to recover from the economic fallout of COVID-19, but McDonald’s (MCD) is well positioned long term, says one analyst.
Kentucky Fried Chicken on Tuesday will begin testing an overhauled sandwich featuring a bigger chicken filet and other modifications that could reignite last year's Great Chicken Sandwich Wars with rivals Popeyes and Chick-fil-A. Brands Inc, will sell the new version of its chicken sandwich for 26 days - or until supplies run out - at 15 locations in and around Orlando, Florida for $3.99. The larger chicken filet will come on a brioche bun with thick pickle slices and mayonnaise.
Popeyes chicken sales made a massive comeback and surged in May, according to a new SEC filing.
Taco Bell, part of the Yum Brands Inc. portfolio, said Thursday that it will hire 30,000 workers this summer. The roles include existing job openings as well as those that have been created by the COVID-19 pandemic, including positions tied to drive-thru service, curbside pickup and to managing delivery. Taco Bell and its franchisees are providing workers with gear like masks and gloves and taking other safety and sanitizing precautions. Yum Brands stock has fallen 12.7% for the year to date while the S&P 500 index is down 8% for the period.