Australia

In an article by SmartCompany, the CEO of Domino's Pizza Enterprises spoke about growing in the pizza industry, as well as how to pick the next big thing in the world of fast food.

Here is a summary of the most interesting QSR news stories of the week from around the world.

We are all suffering from information overload and none more so than those in Green Procurement. It’s impressive to have all the certifications, accreditations, ecolabels, stars, ticks etcetera, but it’s sometimes hard to see the wood for the trees. The introduction of Environmental Product Declarations (EPDs) looks set to differentiate products and provide clarity in procurement. It will be interesting to watch the businesses that are setting the new benchmark with published EPDs.

According to CREST, the proprietary database of the NPD Group, millennials have accounted for two-thirds of total industry growth since 2011.

QSR Media spoke with Costa Anastasiadis, co-owner of Zeus Street Greek, to ask about the brand's recent plans, why the brand is so popular, and what it has in store for the future.

Find out what QSRs have been up to on social media this week.

The brand, with Ambassador Justine Schofield, unveiled a range of new signature dishes, available in all stores nationally from 9 September.

The brand announced its biggest menu launch since 2008, set to hit stores from Monday 19 September.

The healthy food chain unveiled a new limited edition salad that doubles the protein at a lower price tag.

The brand launched a new range of edible donut emojis, allowing customers to express their emotions and eat them too.

The gelato chain opened its first Sydney CBD location, opening up in Gateway - the new food precinct in Sydney’s city foreshore.

Weak underlying income growth is squeezing retail turnover in food categories, while non-food categories are still benefiting from low interest rates and asset price inflation, according to the latest retail forecast by consulting firm Deloitte. "Overall, real (inflation-adjusted) retail sales growth was 2.5% over 2015-16, which was a moderated rate compared with the 3.3% growth seen over 2014-15. We expect that retail sales growth could slow further to 2.0% over 2016-17, before recovering somewhat to 3.0% over 2017-18," the company said in its forecast. "Interest rates are expected to be ‘lower for longer’, as inflation is barely registering and, while growth is OK, it is below trend globally and at risk of returning below trend here." As interest rates fall, asset prices rise. According to the forecast, share market values have moved up in August despite a lack of equivalent strength observed in profit reports, suggesting that share prices are being driven by cheaper finance rather than better returns. House prices, meanwhile, have been rising for some time now, but house prices continuing its strong growth in Sydney and Melbourne (despite increases in new supply) suggests there may be overvaluation in this market as well. For now, weak underlying income growth has slammed food retail, but low interest rates and asset inflation are saving non-food sales. In total, the value of non-food turnover increased by 3.4% over the year to June 2016 in real terms, while food turnover growth was just 0.7% for the same period. While supermarkets have survived the competitive environment by pushing down supplier prices, costs may not have much further to fall and profits are being squeezed. Supermarket and catered food operators are now relying on population growth to increase their sales, as real retail turnover per capita decreases. Australia’s non-food retail spending has moved on from household goods. Last year, the strong growth in housing activity spurred household goods turnover, while this year is characterised by growth in apparel and department stores. These new growth categories are driven as much by supply side circumstances as they are by demand. Transformation strategies by Myer, David Jones and Kmart/Target, as well as the hype surrounding competitive international fashion entrants has had a huge effect on turnover in these categories. Retail turnover by State is characterised by a two-speed split. Slowdown in resource rich States (Western Australia, Queensland and the Northern Territory) is contrasted by stronger conditions in the likes of New South Wales and Victoria. That is a direct reflection of the shift from a mining construction boom to a housing construction boom, with the big States of the south and east getting the upside from that baton pass.

Lisa Ransom, Pizza Hut Australia CEO, reveals more information on the acquisition of the master franchisee licence by private equity fund manager Allegro from Yum! Brands.

Australian private equity fund manager Allegro, together with a local management buy-in (MBI) team, acquired the master franchisee licence for Pizza Hut in Australia from Yum! Brands.

The brand launched the 2016 Great Bake Sale on Monday 29th August 2016, encouraging schools across the nation to take part in its annual fundraising campaign.

Pizza Hut Australia, owned by Yum! Brands, announced the completion of its negotiations with independently owned Australian fund manager Allegro regarding a master franchising arrangement, effective September 6.