Weekly Global News Wrap Up: Fast food leaves fast casual in the dust; Deliveroo embarks on $275m expansion; How Chick-fil-A fuels franchisees
Here is a summary of the most interesting QSR news stories of the week from around the world.
- In other words, fast-food giants such as McDonald's, KFC, and Taco Bell have figured out how to offer the best of both worlds, drawing from fast-casuals' upscale aesthetics while undercutting their competitors' prices, shares Business Insider. READ MORE HERE.
- Deliveroo, a London-based maker of an app for ordering take out, announced Friday it has raised $275 million to fuel growth and take on well-funded competitors, according to Bloomberg. READ MORE HERE.
- Chick-fil-A gives its franchisees a huge perk if they meet sales goals: a new car. Franchisees who meet the goals get to select any Ford model to drive for free for one year, according to Business Insider. READ MORE HERE.
- Bloomberg reveals that Restaurant Brands International Inc., the owner of Burger King and Tim Hortons, reported second-quarter sales for both chains that trailed analysts’ estimates, lending credence to speculation that the fast-food industry is entering a slump. READ MORE HERE.
- It’s beginning to feel a lot like Christmas at Starbucks, according to a report by Fortune. The coffee chain’s Starbucks For Life promotion has been offered during the holiday season for the past two years, and this year it has decided to do a summer edition, bringing it back four months earlier than expected. READ MORE HERE.
- Domino's, for example, is the only chain in the Bloomberg Intelligence restaurant index, of those that have reported so far, to say sales growth accelerated in the second quarter, according to a report by Bloomberg. READ MORE HERE.