Top stories for Feb. 12
Buffalo Wild Wings revenue jumps 32%
Buffalo Wild Wings announced its revenue for the fourth quarter jumped 32.6 percent, or $121.2 million, over the same period last year. Net earnings grew 28.7 percent to $7.7 million, compared to $6 million last year. Same-store sales increased 4.5 percent at company-owned restaurants and 2.5 percent at franchised restaurants.
Sally Smith, president and CEO, announced that in 2008, the company added 67 locations, grew its top-line revenue by 28 percent and delivered net earnings growth of 24 percent to its shareholders. The company is also off to a strong start in 2009, she added.
“To date, our first-quarter same-store sales are among the best in the industry with an 8 percent increase at company-owned restaurants and a 7 percent increase at franchised locations.”
In an exclusive interview with ProvisionerOnline, Smith said that the company has not seen any shortages in its supply of chicken wings, nor has it seen any price increases in wings that have affected other foodservice operators.
“We are very fortunate to work with a strong network of suppliers and have an extremely hard-working purchasing department who ensures that we have the necessary supply,” she said.
Wings Gone Wild
One of the fastest-growing restaurant chains in the country has taken the popularity and success of the chicken wing to a whole new level.One of the fastest-growing restaurant chains in the country has taken the popularity and success of the chicken wing to a whole new level.
Cargill building new feed mill in Arizona
Cargill is moving forward on building a new manufacturing plant in
Construction of the new mill began in late 2008, and production is scheduled to commence in early 2010.
“We are pleased with the continued growth of our business in this region and the opportunities this market presents,” said Russell Riecken, regional general manager for Cargill Animal Nutrition’s Pacific Southwest business. “We remain committed to serving the diverse feed needs of customers throughout
Source: Cargill Inc.
Poultry Science Association announces meeting agenda
The Poultry Science Association has announced that the theme of its 2009 annual meeting will be, “The University and Industry Connection: Building Bridges for Our Future.” Six symposia, all touching on the theme, are scheduled for the meeting, which is scheduled for July 20-23 at
The keynote symposium is “Tomorrow’s Poultry: Genomics, Physiology and Well-Being,” featuring 10 speakers who will address those key areas of poultry research, its direct implications for the industry and its ability to meet the challenge of producing birds economically and profitably while addressing their welfare needs and improving their overall well-being in the production environment.
The other symposia includes: “Global View of New Agriculture: Food, Energy and the Environment,” “Informal Nutrition: Connecting the Discoveries Now and Later,” and “World’s Poultry Science Association Lecture.”
Source: Poultry Science Association
IHOP, Applebee's parent forms purchasing co-op
DineEquity Inc., the parent company of Applebee’s and IHOP, has formed Centralized Supply Chain Services LLC, a purchasing cooperative for its nearly 3,400 restaurants. The co-op has $1.6 billion in combined purchasing power.
The two restaurant chains share more than 75 percent of their vendors, and DineEquity predicts that the co-op will save 3 to 5 percent of costs for restaurant owners in the next several years.
CSCS is an independent company, owned by restaurant operating members, mainly Applebee’s and IHOP franchisees. The CEO of the co-op is David Parsley, DineEquity’s former senior vice president of supply chain management.
Each year, DineEquity’s restaurants purchase about 100 million pounds of poultry, 70 million pounds of beef, 55 million pounds of pork, 30 million pounds of cheese, 5.6 million gallons of soft drinks and 78 million pounds of soy oil.
Boston Market introduced new Country Chicken
Boston Market is introducing a new Crispy Country Chicken to its menu, a breaded, all-white meat chicken breast that is baked until crisp. The meal is topped with creamy country gravy and served with two side dishes and cornbread. The Crispy Country Chicken sandwich is also available, and it can also be sliced and added to the company’s Caesar or Market Chopped salad.
“We believe this new menu item provides a taste alternative to our signature rotisserie chicken,” said Judy Cantrell, Boston Market chief brand officer, “but our guests will taste the quality of the 100 percent white meat chicken breast. The new offerings will be available permanently in all stores for lunch and dinner.
Source: Boston Market Corp.