Here is a summary of the most interesting QSR news stories of the week from around the world.
StarbucksCEO Kevin Johnson said the coffee giant plans to reopen 90% of its US company-owned locations by June. As reported by CNN, changes that will be implemented by the chain include modifications to the company's delivery channels and a new "entryway hand-off solution." Read morehere.
McDonald’sCorporation said its first-quarter earnings fell 17% as the coronavirus pandemic led to restaurant closures and plunging sales. As reported by CNBC, the fast food chain’s executives expect steeper global same-store sales declines in the second quarter than in March. Read morehere.
Restaurant Brands International’sPopeyessaw sales surge by 26.2% in Q1 due to its popular chicken sandwiches, whilstTim Hortonsmissed estimates. As reported by CNBC, stay-at-home orders due to the pandemic dented sales of breakfast and coffee at Tim Hortons chains, where comparable sales fell 10.3%. Read morehere.
Pizza Hut’s owner suggested that outside investors could step in as the operator works to help struggling franchisees in the US, Restaurant Business reports.Yum! Brandshas been helping its franchisees navigate the coronavirus with a variety of assistance, including grace periods on royalty payments and deferred capital spending requirements. Read morehere.
Focus Brandshas promoted two executives to critical roles. As reported by Nation’s Restaurant News, the company appointed Beto Guajardo as new president of Focus Brands International and Tory Bartlett as COO of Schlotzsky’s. Read morehere.