FSR August 2023

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FIRST WATCH

GOLDEN CORRAL 12 COVID hit Golden Corral hard, with the buffet chain across 2020 and 2021, but the bounce back is already underway. Last year, the brand grew by a net of three stores. RED LOBSTER 13 The 644-unit chain shrunk its footprint over the past sev eral years, but parent com pany Thai Union is confident in the seafood chain’s strategy for a turn around, which includes a focus on menu enhancements, value deals, and operational improvements. RED ROBIN 14 With new CEO and industry vet GJ Hart at the helm since last July, casual burger brand Red Robin launched a five-point “North Star” plan covering every thing from staffing to food qual ity. More updates are on deck this year, including flat-top grills and ample menu innovation. WAFFLE HOUSE 15 At over 1,900 U.S. locations, Waffle House has become a beacon of breakfast since 1955. The family-style restaurant continues to serve guests 24/7, 365 days a year, and holds onto its cheap prices to keep its cult-like following alive. BJ’S RESTAURANT 16 Sales at BJ’s Restaurants grew 18.1 percent to $1.3 bil lion in fiscal 2022, with comps up 14 percent. The momentum is giving CEO Greg Levin confi dence in the company’s long-term ability to double its footprint and become a $2 billion business. losing a net of 124 restaurants

17 The breakfast leader is simply one of the nation’s hottest chains. It jumped out of 2023 with same-store sales growth of 12.9 percent, year-over-year, lapping 21.9 percent growth in 2022. Perhaps most impressive, though, First Watch reported same-restaurant traffic growth of 5.1 percent, which was 11.7 percent better than Q1 2019.

FIRST WATCH

P.F. CHANG’S 19 Executives at the 219-unit chain see plenty of runway for both off-premises-only and full-service bistro models. The company is embarking on a brand refresh across the U.S., and all of its domestic restaurants are receiv ing renovations, including new decor and menu presentations. HOOTERS 20 Hooters is celebrating its 40th anniversary by encour aging more growth beyond its current 288-unit footprint. The brand revealed in March it was giv ing away 40 weeks of free royalties for any new franchisee that signs in 2023.

TGI FRIDAYS

TGI FRIDAYS 18 When Rohit Manocha took over as CEO in May as the chain searched for a replace ment, the brand said it was enter ing “a new phase of revitalization.” TGI Fridays’ same-store sales last year grew 8 percent against 2019, and it also recently introduced a fresh rewards platform.

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FSRMAGAZINE.COM

AUGUST 2023