Weekly Global News Wrap: McDonald’s sets diversity goals with suppliers; Panera to widen catering biz; P.F. Chang’s reportedly in talks about possible IPO
Here is a summary of the most interesting news stories of the week from around the world.
McDonald’s and its franchisees have pledged, along with more than 20 of the company’s largest U.S.-based suppliers, to increase purchases of goods and services from diverse-owned vendors by 10% between now and 2025, setting a goal of $3.5 billion of their annual supply-chain spend. As Nation’s Restaurant News reported, the company currently has about 385 diverse-owned businesses that supply goods and services. Read more here.
P.F. Chang's is in talks with possible advisers for an initial public offering, sources told Bloomberg. The chain previously went public in 1998 and was on the NASDAQ market for 14 years. Read more here.
In order to adapt to a growing remote and hybrid workforce, Panera is looking to roll out its catering business to all customers later this year after testing the program with its corporate and higher education clients and loyalty program members. CNBC reported the chain is also working towards scheduled group ordering for companies. Read more here.
Taco Bell and Starbucks are just some of the larger chains that have warned about a lack of supplies as transportation issues continue to cause supply concerns in the United States, Restaurant Business reported. Read more here.
Shake Shack is shelling out more than US$10 million toward its restaurant employees over the next 12 months in a bid to attract and retain staff, Restaurant Dive reported. More than $9 million will be allocated for hourly wage increases for store employees, whilst roughly $1 million will be put toward hiring bonuses. Read more here.
Photo credit: P.F. Chang's Facebook