As sales show signs of improvement, the industry turns to its next crisis: Labor
More than one year into the COVID-19 pandemic, the restaurants are finally starting to see some glimmers of hope.
According to Black Box Intelligence, the industry saw stronger two-year sales for the second consecutive month in April, with same-store sales growth of 6.8% on a two-year basis. That made April the best month for restaurants based on sales growth in over three years.
Restaurant companies’ earnings are beginning to reflect the same improvement. Most recent completed earnings periods included at least the last two weeks of March, leading to huge same-store-sales growth over the same period a year ago, when the country was on lockdown and restaurants were all but closed completely. Many companies also reported two-year growth, showing improvement over pre-pandemic 2019.
Domino s Announces CFO Transition Plan | Restaurant Magazine restaurantmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from restaurantmagazine.com Daily Mail and Mail on Sunday newspapers.
Domino’s Pizza Inc. (NYSE: DPZ), the largest pizza company in the world based on global retail sales, has announced that Stuart A. Levy will be leaving the Company to pursue other opportunities. While he is stepping down from his role as Executive Vice President and Chief Financial Officer effective immediately, Mr. Levy will continue with the Company in an advisory capacity until August 31, 2021 to ensure a smooth transition.
The Company has commenced a search for the next CFO with the assistance of Heidrick & Struggles. Effective immediately, Ritch Allison, Domino’s Chief Executive Officer, will assume oversight of a newly established Office of the CFO comprised of Ryan Goers, Vice President, Finance, Global Financial Planning and Analysis; Juan Jose Joachin, Vice President, Finance Operations; and Jessica L. Parrish Vice President, Corporate Controller and Treasurer until the new CFO is in place.