A perfect storm’: These restaurants survived the pandemic . . . . Now they Can’t Find Workers A few weeks ago, Philippe Massoud posted online ads looking for a cook to hire at ilili, his New York City restaurant. Typically, he said, 60 or 80 people might show up to interview for a position like… read more
Global Foodservice News
Chipotle Increases Average Wages to $15 an Hour; Announces Six-Figure General Manager Salaries
Chipotle Mexican Grill announced Monday that the company would be raising its hourly wages to an average of $15 an hour by the end of June, ranging from $11-$18 per hour for store-level employees. The Newport Beach, Calif.-based fast-casual chain is also adding a path to a restaurateur position (the highest level of general manager… read more
Krispy Kreme is Preparing to go Public
The doughnut company said on Tuesday that it has confidentially filed paperwork related to a public offering of its stock with the Securities and Exchange Commission. The number of shares that will be offered and their price range has not been determined, the company said, adding that the IPO is expected to happen after the… read more
Jose Andres Wants You to Get Vaccinated
Jose Andres—the noted chef, restaurateur, and humanitarian—wants you to get your COVID shot. Andres, whose current Twitter name is “Please wear a mask! Do it for the World please …” announced on the social media platform Friday that his restaurant group would give a $50 gift certificate for any of his Washington, D.C. ThinkFoodGroup establishments,… read more
How the CEO of White Castle is Making the Work Environment Inclusive
White Castle celebrates 100 years in business this year, but its CEO Lisa Ingram is not looking back, only forward. After a year of closed dining rooms and social unrest, Ingram is making sure the quick-service burger chain is in line with the times. Part of that was ensuring that her employees felt represented during… read more
From Chicken Wings to Mother’s Day Flowers, Shortages Abound
The coronavirus pandemic has snarled global supply chains and scrambled supply and demand forecasting for manufacturers across all sorts of industries, from electronics to lumber to poultry. Factory closures, shipping delays, and logistics challenges, coupled with major changes in consumption patterns thanks to lockdowns, capacity and travel restrictions and fear, have created a series of… read more
Spaceman USA to Acquire Food Equipment IOT Tech Startup BDE Innovation.
Forte Supply LLC, the Parent company of Spaceman USA and BDE Innovation has entered into a definitive agreement under which Spaceman USA will acquire BDE Innovation, enhancing the Spaceman USA equipment platform with a portfolio of IoT and dispensing technologies. This transaction brings technology enhancements as well as Marcus Buscemi Jr., CEO of BDE Innovation… read more
McDonald’s Sales Rebound to pre-COVID Levels in Q1, Earnings top Wall Street Estimates
McDonald’s reported fiscal first-quarter earnings that topped Wall Street’s expectations, with the fast food giant posting sales that rebounded to pre-COVID levels amid the battle of chicken sandwiches, and the industry’s growing digital shift. Here’s what the Golden Arches reported, compared to Wall Street’s expectations, according to a Bloomberg consensus estimate: Revenue: $5.12 billion versus $5.03… read more
US Economy Accelerated at a Robust 6.4% Rate Last Quarter
The government also said Thursday that the number of Americans seeking unemployment aid reached a new pandemic low last week. Though layoffs remain elevated, they are steadily easing as the economy more fully reopens. All told, the latest figures point to a remarkably fast recovery from the devastating recession that ripped through the economy last… read more
Equipment Giant Middleby to Buy Welbilt for 2.9B
Foodservice equipment manufacturer Middleby Corp. is acquiring smaller competitor Welbilt for $2.9 billion, adding to its wide array of equipment and technology for commercial kitchens. The deal will combine the companies’ “distinct but complementary portfolios” and help expand Middleby’s global footprint, the companies said in a statement. It also advances Middleby’s investments in newer technologies… read more