Milling & Baking News Corporate Profiles - October 2011 - (Page 64)

Food Service fast-casual chains grew 6% to nearly $18.9 billion in 2010. Panera Bread Co., St. Louis, remained the sales leader among fast-casual chains with 2010 sales of about $2.9 billion, a 4% increase from 2009. Chipotle Mexican Grill, Denver, held onto the No. 2 spot as sales grew 21% to $1.8 billion in 2010. “This category has essentially blown through the recession without skipping a beat,” said Darren Tristano, executive vicepresident of Technomic, when Technomic’s “2011 Top 100 Fast-casual Chain Restaurant Report” was released on May 16, 2011. “The real pressures are now coming from other types of concepts that have taken note and are positioning themselves alongside their fast-casual counterparts. “Quick-service restaurants are revamping their offerings and décor in an attempt to provide value beyond low prices and take back market share.” As a whole, the restaurant industry in 2011 continued in its attempt to attract recession-weary consumers. Visits to U.S. restaurants slipped by 0.4% in the second quarter (April, May and June), according to The NPD Group. Consumers spent 1.5% more at restaurants in the second quarter of 2011 than they did in the second quarter of 2010 with the increase traced solely to higher checks. “The consumer demand in the prior three quarters wasn’t strong enough to overcome another bump in unemployment, rising gas and commodity prices, and low consumer confidence,” Ms. Riggs said. “The confidence they had in the latter part of the year and the beginning of this year was eroded by bad economic news.” Midscale traffic declined by 4% and casual dining traffic declined by 2% compared to the same time period a year ago, according to NPD’s Crest, which tracks consumer use of commercial and non-commercial food service outlets. Visits to quick-service restaurants were flat. Fine dining showed some growth in each of the past four quarters. Calories versus cost The recession may be affecting healthy menu options. According to research from Mintel Foodservice, 41% of restaurant visitors think eating healthy at their favorite eateries is more expensive than not eating healthy. “This kind of sensitivity gives rise to the concern that, as people cut spending, they are also likely to cut back on healthy food options,” said Eric Giandelone, director of Mintel Foodservice. “The perception that Zagat’s National Fast Food Restaurant Survey says ... who has the best ... Burger: Fried chicken: Grilled chicken: Fish: French fries: Coffee: Milkshakes: Ice cream/custard: Smoothies/frozen yogurt: Breakfast sandwiches: Salads: Value menu: Overall menu: Child-friendly: Drive thru: Wings: Source: Zagat Five Guys Kentucky Fried Chicken Chick-fil-A Long John Silver’s McDonald’s Starbucks Dairy Queen Ben & Jerry’s Red Mango McDonald’s Panera Bread McDonald’s McDonald’s McDonald’s McDonald’s Buffalo Wild Wings 64 \ October 2011 Milling & Baking News • Food Business News • Baking & Snack • Meat & Poultry Corporate Proﬁles

Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - October 2011

Milling & Baking News Corporate Profiles - October 2011