As fast-casual chains’ stocks outperform the restaurant industry, more brands, including panela and Cavatrying to take advantage of the industry’s recovery.
Panera brandA group that includes the fast-casual bakery cafe chain Panera Bread. einstein brothers bagel and caribou coffeeon Tuesday (May 23), announced a significant move toward its public offering. Initial public offering (IPO).The company shared its current CEO Niren Chowdhury Appointed chairman as CEO of bagel brand Jose Alberto Duenas He became CEO of the group and the decision was made as a “preparation” for the company’s “eventual IPO”.
“With this incredibly dedicated team and fantastic franchisee partners, we believe we will be able to…accelerate key initiatives that will drive the growth of the company towards a future public listing,” Dueñas said.
The announcement was made by Cava, a fast-casual Mediterranean brand with more than 260 stores in 22 states and Washington, DC. IPO with Securities and Exchange Commission (SEC) Friday (May 19). The company says there is a “increased emphasis on the combination of quality and convenience” in the format of the S-1, which means it offers higher quality food and greater convenience than its Quick Service Restaurant (QSR) counterparts. He pointed out that it is an advantage for the fast casual brands that offer it. than eat-in brands.
“Modern consumers expect to be able to customize where, when and how they enjoy their meals without compromising the quality of their food or experience,” the brand said in its filing. “Whether it’s for restaurant ordering, restaurant pick-up, drive-thru pick-up or delivery, Cava’s easy and fast access has been key to our success and as we further strengthen our channel, Further enhancements are expected to improve guest access.”
Fast-casual brands will significantly outperform other types of restaurants in the stock market through 2023. for example, Chipotle Mexican Grill Since the beginning of the year, the stock has risen 62%. shake shack A 57% increase was seen.
In contrast, the giant of quick-service restaurants (QSR) yam brandis the parent company of taco bell, Kentucky Fried Chicken, pizza hut and The Habit Burger GrillSo far, the annual share price growth is only 3%. McDonald’s 8% increase, and Starbucks 1% decrease.
Casual dining brands are doing somewhat well, but not as fast as fast casual. blinker internationalprices are up 19% year-to-date, Dardenis 16%.
But overall, fast-casual brands are increasingly facing competition from other types of food distributors, including grocers, convenience retailers and direct-to-consumer (D2C) brands. Research from the latest edition of the PYMNTS Connected Dining Report, “Connected dining: Ready-to-eat meals are eating restaurant lunchescomes from a survey of more than 2,300 U.S. consumers, which found that many opted for other prepared meal options over restaurant dining. I was.
Specifically, about 6 in 10 consumers have purchased ready-to-eat meals from stores or e-commerce platforms in the previous month, and 28% of those surveyed make purchases at least once a week, according to the survey. found.
