Slow on the Uptake
QSR is a SHORT
Another example of how poorly run QSR is! On Wednesday, Jose Cil, CEO of Restaurant Brands International, which owns Burger King, told attendees at Morgan Stanley's Global Consumer and Retail Conference that it will cut menu items to speed up drive-thru times. Cil said the company noticed drive-thru times "declined significantly" since the pandemic began. In response to streamlining the drive-thru experience, he said certain menu items would be eliminated. "We're working on eliminating SKUs that – we're simplifying processes that have become a bit too complicated in terms of sandwich builds, and doing a better job in terms of the menu design to make it easier for the customer, at the drive-thru, in particular, to make quicker decisions." This same strategy came from MCD and others in the industry in April/May 2020, and BK is now just figuring this out?
Confidence
DNUT is a LONG
DNUT rallied 3.2% last week after JAB Holdings says it plans to be an anchor shareholder for many years to come. JAB Holdings now holds about 45% of DNUT's outstanding shares after striking a new three-year total return swap agreement with BNP Paribas. JAB's other brands include Peet's Coffee, Caribou Coffee, Jacobs Douwe Egberts, Einstein Bros. Bagels, Espresso House, a controlling chunk of Keurig Dr. Pepper, Panera Bread, Bruegger's, and Pret A Manger. Panera is on a path to go public in a SPAC deal that would see JAB keep a significant stake.
BAD WEEK
TOST is a LONG
TOST was down 21% last week and announced that Hilarie Koplow-McAdams had been appointed to the company's board of directors, effective immediately. A technology industry veteran, Ms. Koplow-McAdams has spent more than three decades in operating and leadership roles devoted to accelerating high-growth software companies through sales, business development, customer success, and more. Currently, Ms. Koplow-McAdams is a Venture Partner with New Enterprise Associates (NEA), a venture capital firm. Before NEA, Ms. Koplow-McAdams served as the President of New Relic, Inc., President of Global Sales at Salesforce, and also held executive roles at Intuit Inc. and Oracle Corporation. Ms. Koplow-McAdams has served as a member of the board of Directors of Zendesk since September 2017 and serves on several private boards. She is a Trustee at the University of Chicago and is the Chair of the advisory council of the University of Chicago's Harris School of Public Policy. She is also the Chair of the Pancreatic Cancer Action Network (PanCan), a charitable organization. Ms. Koplow-McAdams holds an M.A. in Public Policy from the University of Chicago and a B.A. in Sociology from Mills College.
