Technomic
Coverage of Technomic in the Nexus archive.
- As Tex-Mex chains close nationwide, Korean barbecue booms across America
Tex-Mex restaurants are closing nationwide while Korean barbecue concepts are expanding in major U.S. cities, driven by shifting consumer preferences toward interactive dining experiences. Industry experts attribute the trend to K-pop influence, social media, and demand for bold Asian flavors, with Korean barbecue market growth projected to nearly double by 2034.
- Pizza Hut, overtaken by the arrival of delivery culture, will be sold for $2.7 billion
Pizza Hut is being sold by Yum Brands for $2.7 billion, with LongRange Capital acquiring the non-China business and Yum China Holdings Inc. purchasing the mainland China operations. The sale follows declining sales, competition from delivery services like DoorDash and Uber Eats, and a shift away from large dine-in restaurants.
- Pizza Hut sold in 2 separate deals totaling $2.7 billion
Pizza Hut's parent company Yum Brands sold the chain in two separate deals totaling $2.7 billion. LongRange Capital acquired most Pizza Hut locations for $1.5 billion, while Yum China purchased mainland China locations for $1.2 billion.
- Customers hit with automatic 20% gratuities as restaurants combat tipping confusion
Restaurants in FIFA World Cup host cities like Kansas City, Atlanta, and Philadelphia are implementing automatic 20% gratuities to address tipping confusion among international visitors unfamiliar with U.S. customs. Supporters argue this protects workers reliant on tips, while critics warn of consumer backlash due to added costs and unclear expectations.
- Olive Garden is giving away free grub — if you know this secret
Olive Garden is offering free food through an undisclosed secret. David Henkes, a senior principle at Technomic, highlighted customer traffic as a major challenge for the restaurant industry.
- America's late-night fast-food culture may be making a comeback — here's why
Late-night fast-food services in the U.S. have declined since the pandemic due to reduced consumer demand, rising costs, and labor challenges. Restaurant sales dropped 47% in April 2020, and 24-hour service locations fell by 18% between 2020 and 2024, with operators struggling to justify overnight hours amid inflation and staffing issues.
- American beer drinkers lament demise of iconic brand after 177 years as many cite 'mistake'
Schlitz beer is being discontinued after 177 years due to declining sales and increased costs, with many citing a formula change as the beginning of the end for the brand. The company changed hands over the years, with Pabst acquiring Schlitz in 1999. Sales of Schlitz steadily declined beginning in the 1970s.
- Automatic tipping push brings concerns to major US city as restaurants brace for surge of foreign visitors
Missouri restaurant officials propose automatic tipping to ensure workers get paid during the World Cup, with an expected surge of foreign visitors to Kansas City. The Missouri Restaurant Association advises a 20% gratuity to be added to bills. This move aims to prevent servers from being underpaid due to differing cultural expectations around tipping.