The Great Resignation Continues
We are hosting our 1Q22 Restaurant Themes call on January 12 at 10 AM ET. One of the themes focuses on the continued pressure in the Casual Dining segment. High job turnover is the enemy of both top-line sales and expenses.
According to ResumerBuilder.com, 1/4 of workers want to quit their job in 2023. Of those employees, some want to move into tech-related industries such as IT, business, and finance. Roughly 23% of those surveyed last month said they want to quit this year. Another 9% have already found a new job, and an additional 9% said they'd retire this yea. According to the report, most of those resignations happen in the retail, food, and hospitality industries. "Employees may wait for end-of-the-year bonuses to make a change or see what new opportunities arise in the new year," career strategist Carolyn Kleiman said in the report. "Plus, as the pandemic continues, people continue to evaluate their lives, and work is a large part of that." The report shows that better pay and benefits, finding remote work, and landing a job people are passionate about are some of the top reasons for seeking new work. Time and time again, remote tech work has become hugely popular and will likely continue to grow in 2023. The hunt for a more purposeful job also checks out, given that more people have said they lost a sense of meaning in their work since the COVID-19 pandemic began. About one-third of those looking for new jobs want to stay in their current industry. In contrast, another third wants to switch to IT, media and communications, and business and finance.
Another YUM/BYND partnership
YUM is a LONG and BYND is a SHORT
BYND announced the launch of plant-based Beyond Italian Sausage™ "flexitarian" Crumbles as a permanent offering at Pizza Hut Canada locations nationwide. These new menu items are exclusive to Pizza Hut and are back after a "successful trial" in Toronto and Edmonton last summer. "After seeing great excitement from Pizza Hut fans across Toronto and Edmonton last summer, we're beyond thrilled to give Canadian fans everywhere the opportunity to try and fall in love with these Beyond Meat menu items," said Amy Rozinsky, Head of Consumer Marketing, Pizza Hut Canada. "Pizza Hut and Beyond Meat have a shared vision to innovate new and exciting products that will delight our guests. Beyond Italian Sausage, Crumbles offer a delicious plant-based twist on our classic pork sausage that you'll have to taste to believe." The Great Beyond™: A specialty pizza crafted with savory Beyond Italian Sausage Crumbles, paired perfectly with fresh veggie toppings that include sliced red onions and tangy banana peppers, served upon any Pizza Hut crust.
- Beyond Italian Sausage™ Alfredo Loaded Flatbread: A crispy flatbread topped with flavor-packed Beyond Italian Sausage Crumbles, roasted red pepper, creamy alfredo sauce, and mozzarella cheese.
- Beyond Creamy Alfredo: A savory pasta alfredo dish layered with Beyond Italian Sausage Crumbles, onions, mushrooms, and mozzarella cheese that delivers a creamy, delicious bite.
Beyond Italian Sausage Crumbles can also be added as a topping to any existing pizza offerings of any size. "Made from simple plant-based ingredients without GMOs, soy, or gluten, Beyond Italian Sausage Crumbles contain 20g of protein per serving, derived from pea." Starting January 10, Canadians can enter by visiting Pizza Hut Canada on Instagram, posting a comment with their little flex, and tagging two friends. From January 10 to January 30, Pizza Hut's popular Buy One, Get One (BOGO) deal will allow Canadians to try pizzas topped with Beyond Italian Sausage Crumbles at no additional cost when they purchase a regular-priced medium or large pizza. Then for six weeks starting on January 31, Pizza Hut's $5 $5 $5 deal will allow pizza lovers to order a pizza (or three!) with Beyond Italian Sausage Crumbles for only $5.
Instacart Ready-Made Meals
As it broadens its selection, Instacart wants to compete with DoorDash restaurant delivery through the launch of its new Ready Meals Hub.
In a story on HNGRY, consumers can now order from a selection of 20k grocery SKUs and add on ready-made sandwiches, salads, and sides to be delivered in as fast as 30 minutes via Priority Delivery. In September, the platform announced its first partnership with Kroger to deliver a subset of its inventory in 30 minutes and weeks later, the acquisition of Australia-based FoodStorm, an order management system that powers e-commerce for grocers’ deli counters and prepared food. Now, Instacart is boasting over 4x the amount of SKUs of convenience players while also providing a faster, cheaper, and healthier alternative to traditional restaurant delivery.
Carrols Restaurant Group
TAST preliminary Sales results for the 4Q2121 of total restaurant sales were $416.1M versus $420.5M in 4Q20, which included a $28.4M contribution from the 14th week in 2020. The numbers are significantly above the FactSet consensus of $408.27M. Comparable restaurant sales for Burger King restaurants increased 7.4% (October +5.0%, November +9.7%, December +8.3%). Comparable restaurant sales for the company's Popeyes restaurants increased 1.0%.
