In this file:

 

·         How Burger King had a whopper of a turnaround

To fix Burger King, Daniel Schwartz, 38, turned to 3G Capital's standard recipe for comebacks: Cut costs, incentivise management—and stay hungry for acquisitions. This time it worked

 

·         Burger King’s Earnings Skyrocket Nearly 30% Since Vegan Whopper Launch

Burger King has experienced a growth in sales since the launch of its Impossible Whopper, which features vegan meat made by Impossible Foods.

 

 

 

How Burger King had a whopper of a turnaround

To fix Burger King, Daniel Schwartz, 38, turned to 3G Capital's standard recipe for comebacks: Cut costs, incentivise management—and stay hungry for acquisitions. This time it worked

 

By Chloe Sorvino, Forbes India

Jun 12, 2019

 

Challenge: Make a 60-year-old ham­bur­ger chain into something cool. Daniel Schwartz accepted that assignment six years ago after 3G Capital took over Burger King and named Schwartz chief executive.

 

Burger King was a tired outfit, with a confusing menu and sales going sideways. Its restaurants averaged half the revenue of McDonald’s. But where there is underperformance, there is ­opportunity. Schwartz slashed overhead at the Miami headquarters. He streamlined food preparation. He dished out stock to middle managers. He shrank the payroll and the capital budget by selling company-owned stores to franchisees.

 

In the years since, Burger King has become Restaurant Brands International or RBI (following some more classic 3G dealmaking). Bur­ger King opened up 1,000 restaurants around the globe last year, to 600 for McDonald’s. McDonald’s stores still have a bigger average volume, but Burger King’s are gaining on them; in the US, Burger King boosted its average volume per outlet by 30 percent, to $1.4 million, while McDonald’s had a gain of only 20 percent. All of Burger King’s success is, of course, in stark contrast to what’s going on at Kraft Heinz, another 3G turnaround that went the other way. In February, Kraft Heinz said it was taking a $15.4 billion write-down, a signal that its classic food brands were losing value.

 

The situation is different at Burger King. At the parent-company level, where revenue consists mostly of franchise fees, Restaurant Brands took in $5.4 billion last year, up by 17 percent from 2017. McDonald’s revenue was off 8 percent.

 

“How many companies that have been around since the 1950s grow the top line at 10 percent?” says Schwartz, 38.

 

For a fast-food conglomerate that oversees 26,000 locations with combined sales of $32 billion, Restaurant Brands is quite agile. Three months ago the company introduced the Whopper Detour promotion, in which Burger King offered its signature item for a cent if the customer ordered food on the Burger King phone app within 600 feet of a McDonald’s location. In February came the 45-second Super Bowl ad featuring historic footage of Andy Warhol slowly unwrapping and methodically eating a Whopper. The Burger King app topped the charts in Apple’s App Store during the campaign.

 

Plans are under way to introduce a plant-protein patty from Impossible Foods...

 

more, including table

http://www.forbesindia.com/article/cross-border/how-burger-king-had-a-whopper-of-a-turnaround/53907/1

 

 

Burger King’s Earnings Skyrocket Nearly 30% Since Vegan Whopper Launch

Burger King has experienced a growth in sales since the launch of its Impossible Whopper, which features vegan meat made by Impossible Foods.

 

Jemima Webber, Live Kindly

June 11, 2019

 

Burger King has experienced a significant sales spike since the launch of its Impossible Whopper, which features vegan meat.

 

The American fast-food chain saw sales rise by 28 percent in April, the same month that the plant-based burger was introduced. This is 26 percent higher than the sales boost experienced by Burger King’s rival McDonald’s, which is yet to serve a vegan burger option in the United States, besides in its headquarters.

 

The number of unique customers dining at Burger King rose by 15 percent in April as well.

 

Burger King first trialed its meat-free Whopper in 59 St. Louis, Missouri, restaurants. The trial went “exceedingly well,” according to the food chain’s parent company, Restaurant Brands International.

 

Five weeks after the launch, the chain announced it would roll out the Impossible Whopper across the nation to its more than 7,000 restaurants, a “shockingly fast move” that was motivated by the rising sales figures, according to Restaurant Business.

 

Speaking at a recent analyst day presentation, Chris Finazzo, president of Burger King in the Americas, said that the St. Louis test displayed “really encouraging results.”

 

To kick off the national expansion, the burger has launched at some Burger King restaurants in Alabama, Georgia, and Miami. The company told Narcity that the meat-free creation will “likely” launch in Canada sometime this year, too.

 

Impossible Whopper ...

 

Boom in Vegan Business ...

 

more, including links

https://www.livekindly.com/burger-kings-earnings-skyrocket-nearly-30-since-vegan-whopper-launch/