Weekly Global News Wrap: Domino's, McDonald's Q3 earnings up; Slower U.S. drive-thru times seen as demand soars; Taco Bell's first e-gifting service
Here is a summary of the most interesting QSR news stories of the week from around the world.
Domino’s U.S. same-store sales were up 17.5% during its third quarter as more consumers chose to order pizza during the coronavirus pandemic. CNBC reported that the pandemic also boosted costs for the company, with higher wages for front-line workers, personal protective equipment and enhanced sick pay costing the firm an estimated $11 million. Read more here.
McDonald’s also reported its U.S. same-store sales in the third quarter rose nearly 5%, helped by its promotions and marketing, including the recent $6 Travis Scott meal. Read more here.
Burger King has suggested that one of its beef burgers deserves a Michelin star, CNN has reported. The fast food giant's Belgian arm launched a petition demanding a sought-after star for its new Master Angus burger, encouraging followers to sign an online petition aimed at Michelin Guide inspectors. Read more here.
Average drive-thru times at major fast food chains in the U.S. got 29.8 seconds slower in 2020, according to a report from market research agency SeeLevel HX. As reported by Reuters, a typical brand could lose US$64 million annually per 2,000 stores with the slower average times this year. Read more here.
More than six months after states implemented stay-at-home orders, over 100,000 bars and restaurants — or 15% of all eating and drinking establishments — have permanently closed in the U.S., according to National Restaurant Association estimates. As reported by CNBC, the trade group forecasts US$240 billion in restaurant sales will be lost this year to the pandemic. Read more here.
Taco Bell has launched its first-ever e-gifting service, Restaurant Business reports. Dubbed the Taco Gifter, a service that lets customers gift their friends menu items through the Taco Bell app or website. Read more here.
TikTok may be proving to be a game changer for some brands in terms of marketing. As reported by Restaurant Business, Dunkin’s cold brew sales surged following a partnership with Charli D’Amelio, the social media platform’s most followed account. Read more here.
P.F. Chang's is extending temporary layoffs for potentially up to 5,800 employees across at least 20 states, according to filings viewed by Restaurant Dive. The chain is currently in the middle of opening five new P.F. Chang's To Go concepts and six traditional P.F. Chang's restaurant openings over the next six months. Read more here.
McDonald’s and Panera also added more women to the c-suite. As reported by Nation’s Restaurant News, McDonald’s appointed Katie Beirne Fallon - a former White House senior advisor to former U.S. President Barack Obama - as chief global impact officer whilst Panera named Lauren Cody as the company’s chief of staff and chief customer officer. Read more here and here.