Viewpoint
I’m Not Going to Lie…..Things Are Not Pretty Out There
Moody's, which has long been criticized for sleeping through the credit bubble and, by some accounts, causing it in the first place, this morning came out with an attempt at absolution. In a quarterly publication called the "Bottom Rung", the rating agency lists 283 companies which it believes are the most likely to default.
Management
FYI Candidates
Many individuals believe that the process of finding a job is something that is completed by dedicating just an hour or two (if that) a day to searching job descriptions and posting resumes. Executive Movements
YUM! BRANDS INC., parent of the KFC, Taco Bell, Pizza Hut, Long John Silver’s and A&W chains, Tuesday named MICKY PANT to the newly created position of president, global branding.
DINEEQUITY INC., parent to the IHOP and Applebee’s Grill & Bar chains, on Monday named JOHN “JACK” F. TIERNEY chief financial officer. Tierney, previously the CFO of The Dial Corp., replaces Thomas Conforti, who resigned in September.
DEL TACO said it had made two changes to its executive team, including the appointment of former Pick Up Stix executive chef ED WILROY as senior director of research and development. The 510-unit quick-service chain also named STACY MARLER senior director of quality assurance and food safety.
Financial Overview
DINEEQUITY INC., parent of the IHOP and Applebee’s chains, reported Wednesday a widened fourth-quarter loss because of $148.3 million in after-tax charges related to write downs in the value of Applebee’s goodwill and intangible assets.
WENDY’S/ARBY’S GROUP INC. posted a net loss of $393.2 million for its fourth quarter, as impairment charges and continued slow sales at the ARBY’S chain weighed down results. The parent company to both Wendy’s and Arby’s reported on Monday improving sales trends at Wendy’s, but weak results at Arby’s.
Panera reported a 43-percent jump in fourth-quarter net income that was aided by a calendar shift and price increases. Net income for the 14-week quarter ended Dec. 30 was $25.5 million, or 84 cents per share, up from $17.8 million, or 56 cents per share, from the same year-earlier quarter, which was only 13 weeks. The fourth–quarter results included 3 cents per share for write offs related to a strategic cash investment, the roll out of the company’s new coffee program and an increase in reserves associated with legal settlements. Revenue for the fourth quarter was $357.8 million, up 19 percent over the year-ago quarter. Systemwide same-store sales rose 2.7 percent for the quarter, reflecting a 1.9-percent increase at company-owned stores and a 3.3-percent increase at franchise-operated units.
Declining same-store sales and impairment and restructuring charges led RUTH’S HOSPITALITY GROUP INC. to a fourth-quarter loss of $60.7 million, it said.
McDonald's comparable-store sales rise 1.4% in February.
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Sales and traffic levels continued to weaken, Operators' outlook remained pessimistic The outlook for the restaurant industry continued to weaken in December, as the National Restaurant Association's comprehensive index of restaurant activity fell to another record low. The Association's Restaurant Performance Index (RPI) - a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry - stood at 96.4 in December, down 0.2 percent from November and its 14th consecutive month below 100.
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This Month's Hot Opportunities
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Regional Vice President
- New England - The Regional Vice President will have responsibility for managing all operational aspects of the business throughout the region. The Regional Vice President will oversee operations in seven States, (ME, MA, NH, VT, CT, RI, and Eastern NY,) that provides services to over 70 units. This region has about $245 million in revenues and over 2,000 employees.
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- The COO will be responsible for the execution and profitability of all operations for this international QSR. An integral part of senior leadership, the COO will lead the charge to improve operations and grow the concept both domestically and internationally. COO leads the national operations team, directly supervising operations, operating systems, training and business development. Translates the business strategy into day to day execution. Ensures each team upholds the standards and reputation of the brand while enhancing guest satisfaction and franchisee profitability.
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Chief Operating Officer - East
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Commodities Market Research Expert
- Pennsylvania - Initiate, design, manage, direct, and analyze market research to provide actionable information and recommendations to the management of the Commodities Group. Market research of particular importance is electricity & energy. Partner with Commodity Managers to develop risk mitigation strategies.
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Director F&B - Southeast-US
- The Director F& B will be an agent of change within the organization, working with all operational and support departments primarily during the later hours of operation beginning after 2pm. This executive will directly oversee a core group of departments and services at various venues, while in addition will be supporting the Director of F&B for the same venues. S/he will create, develop and build customer-centered systems and expand organizational capacity to bring the company the strength and agility it needs to address and create opportunities from the myriad of rapid revenue growth currently occurring.
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