Viewpoint
by Bob Gershberg, Managing Partner Wray Executive Search
What Happened to Easy Comps?
Surely we expected to see easy comps for 4th quarter 2009 and 1st quarter 2010. After all, the same quarters in the previous respective years were atrocious. Surely February '10 had to kill February '09. Sorry to say - Not so much! Many of our leaders blamed February lackluster sales on the brutal weather in the mid-west and mid-Atlantic. Really? Let's take a look at our brethren in the retail sector as they clearly suffered the same weather challenges. Average increase in retail sales last month was 3.7%. Nordstroms was up 10% as was TJ Maxx. Historically the restaurant sector leads the economy in recovery according to analysts. It is far easier to say, "The heck with it, let's go out to dinner." than it is to say "let's go out and buy a $40,000 car." What in the world are we missing?
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Big News
McDonald's - I'm Lovin' it
McDonald's key sales figure rises in February. Strong overseas growth for McDonald's Corp. in February outweighed U.S. sales that barely nudged upward as the world's largest fast-food chain posted a 4.8 percent increase in sales at restaurants open at least a year.
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Management
by Richard Ungaro, owner of RU Investment, LLC
Franchising for Growth and Sustainable Earnings
The larger successful brands may boast of "how we did it," but few would admit to what they learned along the way that caused them to stumble.
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FYI
By Rebecca Patt, Vice President, Wray Executive Search
Blood, Sweat, and Garlic: Four Lessons Journalism Taught Me about Executive Search
Though at this point in my life I have been making a living as an executive recruiter longer than anything else, I had another career before this one that I believe has turned out to be a great segue: newspaper journalism. I didn't realize it at the time, but I was fortunate to start my post-college career at what may be one of the few remaining small-town daily papers with a spirit of bulldog-like tenacity in producing rigorous and responsible journalism.
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Effective March 1, 2010, Kevin Toomy will assume the role of President and Chief Operating Officer of Ruth's Chris Steak House and Samuel Tancredi will serve as President and Chief Operating Officer of Mitchell's Fish Market. Full Article »
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CHEESECAKE FACTORY INC. named MICHAEL JANNINI president and announced two other key executive appointments Wednesday. DAVID GORDON was promoted to the position of chief operating officer, and DINA BARMASSE-GRAY to the role of senior vice president of human resources. Full Article »
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T.G.I. FRIDAY'S has appointed IAN SAUNDERS to the new post of president and chief operating officer of its international division. Saunders most recently worked for PAPA JOHN'S INTERNATIONAL INC. as its regional vice president for Europe, the Middle East and Africa. Full Article »
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SCOTT BARNETT, founding president and chief executive officer of the BUBBA GUMP SHRIMP CO. RESTAURANTS INC., announced late Wednesday he is stepping down, saying simply that "it was time." Barnett has been with the San Clemente, Calif.-based company since 1996, when the first unit opened of Bubba Gump Shrimp Co., a casual-dining concept based on the hit movie "Forrest Gump."
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IHOP and Applebee's parent DINEEQUITY INC., based here, for the fourth quarter ended Dec. 31 reported a net loss of $48.2 million, or $2.84 per diluted share, compared with a year-earlier loss of $136.9 million, or $8.15 a share. Full Article »
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CKE Restaurants Inc. reported mixed results for its two brands in February, with winter weather taking a toll at Hardee's but new products helping sales at Carl's Jr. Blended same-store sales fell 4.2 percent for the four weeks ended Feb. 22, compared with a drop of 0.6 percent the same period last year, said CKE, which recently agreed to a $918 million acquisition offer from a private-equity firm. Full Article »
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WENDY'S/ARBY'S GROUP INC. reported a net loss of $13.6 million, or 3 cents per share, for the fourth quarter ended Jan. 3, compared with a loss of $393.2 million, or 84 cents a share, a year earlier. Full Article »
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MORTON'S RESTAURANT GROUP, for the Jan. 3-ended fourth quarter, had a net loss of $66.9 million, or $4.21 per share, versus a loss of $7.6 million, or 48 cents per share, in the prior year. Full Article »
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DOMINO'S PIZZA, which revamped its pizza in late December, said it is carrying positive sales and traffic momentum into 2010 following fourth-quarter bumps in same-store sales and guest counts.
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 Executive Chat with Rebecca Patt - featuring Joni Doolin
When it comes to insight on workforce issues in the foodservice industry, few shine a brighter light than Joni Thomas Doolin.
The CEO and founder of the innovative research and consulting firm People Report, Joni is well-recognized as a trailblazer and thought leader in workforce practices. In addition to publishing quarterly and annual reports for its members that track, analyze and benchmark the people side of the P&L, she and her team host events such as the annual Best Practices Conference and Workforce Symposium.
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Register Now.
MGM Grand
Las Vegas, Nevada
April 6-9, 2010
See you there!
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| This Month's Hot Opportunities |
VP Development - Southeast
Exciting well-established full service restaurant company with 500+ locations nationally requires an individual with a strong multi-unit, multi state operational background in full service, high volume dining, an individual who is driven to excel and can demonstrate a record of significant accomplishments. This individual must exemplify a "hands on" style approach to management and new business development activities, as well as recognizes the sense of urgency in regards to development and construction schedules. This person must also have past/current track record of success in new store franchise development, franchise site selection, as well as team/department development and retention. This is a known multi-branded franchised company that is looking to take its domestic and international presence to a higher level of growth, sophistication, and performance. Click for PDF »
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Director of Finance - West
Exciting well-established fast casual restaurant company with 125+ locations in CA, AZ, & NV requires an individual with a strong financial discipline, CPA certification, and hands on experience with business intelligence and data mining tools such as Cognos and Hyperion. This individual must be able to lead a high performing team by clearly defining strategic purpose of role(s), establishing individual performance expectations, providing continuous feedback, coaching and developing, conducting ongoing recognition, succession management and talent scenario planning. This is an established organization that is a subsidiary to a large privately held Fortune 500 company that is seeking an experienced finance executive to identify opportunities that will lead to a higher level of growth, sophistication, and performance.
Click for PDF »
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Area Operations Director - Mid Atlantic
Exciting well-established QSR national restaurant company requires an individual with a strong multi-unit, multi state
operational background in quick service, high volume dining, an individual who is driven to excel and can demonstrate
a record of significant accomplishments. Click for PDF » |
Executive Director Senior Living -New York
One of the nation's largest providers of senior-living services is seeking a managing director for their premier retirement facility located in Manhattan. The company is committed to providing quality care for seniors in an environment that promotes dignity and independence. The primary job function of the Executive Director is to lead the day-to-day operations of the community, including full P&L responsibility. The New York facility offers hospitality that rivals Manhattan's finest hotels and is located in one of its most exclusive neighborhoods. Click for PDF » |
Regional Operations Director - Minneapolis
Excellent opportunity for Regional Operations Director to oversee 6-8 units for a leading casual dining
chain. The company is profitable, growing, debt-free and is known for its positive, service-oriented
culture.
Click for PDF »
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Manager of Menu Management - Southeast
Menu Management Position with an exciting International Brand located in the Southeast USA. Up to 10 direct reports. Colaborative team builder with superb leadership and communication skills to lead worldwide menu management operations and communications. Must have an intimate understanding of the supply chain/menu management relationship, and truly understand the art of menu management and how to deploy a menu management strategy worldwide, preferably in a QSR environment. Click for PDF »
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