Steak ‘n Shake Closes More Locations as Evolution Continues
More units are currently closed, either up for sale or refranchising.
More units are currently closed, either up for sale or refranchising.
At Taco Bell in particular, the channel increased 60 percent year-over-year in Q1, and its mix grew by eight points.
The fast casual views the new store design as an infill opportunity while traditional units will still be the primary growth driver.
The chain generated unprecedented quarterly profit dollars and adjusted EBITDA.
The chain's same-store sales rose 20.1 percent in Q1, and nearly all of that growth came from transactions.
JP Morgan, which is overseeing the strategy, is hoping the offer can spark a deal at Subway's $10 billion asking price.
The fast-food giant estimates that around 300-400 U.S. restaurants will close in 2023.