PALM BEACH, Fla., Dec. 9, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Health benefits are among the major reasons for the growth in demand and consumption of poke foods. As they are significantly high in nutrient content such as omega-3 fatty acids and vitamin A, the demand for poke foods has risen in major regions of the world. Some of the advantages include enhancement of cardiovascular health, improvement in blood circulation, and promotion of weight loss. Therefore, with such advantages, the market is expected to witness a positive outlook during the forecast period. The Poke Shops industry has emerged from the economic hardships of the COVID-19 (coronavirus) pandemic has subsided. As the vaccine is being rolled out, industry establishments are permitted to reopen and coronavirus restrictions are gradually lifted, benefiting industry demand. As a result, industry revenue is expected to continue growing over the next five years. Similarly, industry players are expected to expand their operations to capitalize on revenue growth, with industry establishments growing a CAGR of 14% during through 2024. Active companies in the markets this week include Muscle Maker, Inc. /zigman2/quotes/216404623/composite GRIL -7.78% , Yum! Brands, Inc. /zigman2/quotes/209029767/composite YUM -2.68% , McDonald's Corporation /zigman2/quotes/203508018/composite MCD -4.38% , Restaurant Brands International Inc. /zigman2/quotes/202094900/composite QSR -2.33% , Chipotle Mexican Grill /zigman2/quotes/200781108/composite CMG -5.23% .
A report from Technavio said that: "The major poke foods market growth came from the varieties of tuna segment in 2019 and is expected to account for the highest market growth during the forecast period. North America was the largest poke foods market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the influx of new vendors and the growing consumption of raw tuna fish. As the business impact of COVID-19 spreads, the global poke foods market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts. Rising Demand for Organic Seafood and Poke Foods will be a Key Market Trend. Rising demand for organic seafood and poke foods is one of the major trends being witnessed in the global poke foods market. Organic seafood is manufactured from naturally-sourced ingredients and does not contain preservatives."
Muscle Maker, Inc. /zigman2/quotes/216404623/composite GRIL -7.78% BREAKING NEWS : Muscle Maker Inc.'s Pokemoto Division Signs 15 Site Franchise Deal, Expands Massachusetts Market - Signing marks largest franchise deal to date for Pokemoto division; growth rate increases over 200% since acquisition - Muscle Maker, Inc. newest subsidiary Pokemoto, a 19-location and growing poke bowl concept known for its healthier modern culinary twist on a traditional Hawaiian poke classic, announced today that it has signed a 15 site franchise agreement in Massachusetts, fueling the chain's growth rate to over 200% since its acquisition in May, 2021. With this new agreement, Pokemoto has now signed 21 franchise agreements over the last 45 days. Recently signed franchise agreements were in New York, Massachusetts and Mississippi. Pokemoto currently has open locations in six states – Connecticut, Rhode Island, Massachusetts, Georgia, Maryland and Virginia. This 15-unit franchise agreement represents Pokemoto's largest franchise agreement signed to date.
The 15-unit franchise agreement is an exclusive development agreement for Worcester and Middlesex, Massachusetts counties. These counties represent the first and second most populous counties in Massachusetts. Both counties have numerous colleges and universities which fit the Pokemoto demographic of Millennial and Gen-Z consumers and are a focal point of the brand's real estate team. Pokemoto currently has two locations open in Franklin and North Attleboro, Massachusetts.
The 21 new franchise agreements, when opened, will bring the Pokemoto chain to 40 locations: expanding the chain's footprint over 200% since its acquisition in May 2021. Muscle Maker, Inc. announced that the company recently raised $15M in a private placement with plans to focus on its strategy of franchise growth for its Pokemoto division.
"One of our internal goals at the time of the acquisition in May 2021 was to pursue significant growth and the signed 15-pack in Massachusetts, along with the previously announced 6 deals, provides a solid foundation for these plans" said Mike Roper, CEO of Muscle Maker, Inc. "Our management team brings vast experience in areas of operations, franchising, real estate, distribution and marketing, which was key in inking this 15-pack deal. Expanding the Pokemoto locations via franchising efforts and through corporately owned locations, to ultimately accelerate our top line sales, is the main goal. Our recent capital raise of $15M has provided us with the resources to execute our strategy allowing us to pursue our goals on all cylinders. The Pokemoto concept is new and trendy and we believe that our added buying power, expertise in franchising and site selection, operations and marketing and additional resources presents a unique, low cost of entry opportunity for prospective franchisees." CONTINUED… Read this full release and get more info for GRIL at: https://musclemakergrill.com/investor-relations/press-releases/
Additional recent developments in the restaurant industry include:
McDonald's Corporation /zigman2/quotes/203508018/composite MCD -4.38% recently announced results for the third quarter ended September 30, 2021. "Our third quarter results are a testament to our unparalleled scale and agility," said McDonald's President and Chief Executive Officer, Chris Kempczinski. "Our global comparable sales increased 10% over 2019, which was delivered across an omnichannel experience that is focused on meeting the needs of our customers. We continue to execute our strategic growth plan and run great restaurants so that we can drive long-term, sustainable growth for all of our stakeholders."
Third quarter financial performance Was: Global comparable sales increased 12.7% (10.2% on a 2-year basis), reflecting positive comparable sales across all segments; Consolidated revenues increased 14% (13% in constant currencies) to $6,201 million; Systemwide sales increased 16% (14% in constant currencies) to $29,948 million; Consolidated operating income increased 18% (17% in constant currencies) to $2,987 million and included $106 million of strategic gains related to the sale of McDonald's Japan stock; Diluted earnings per share was $2.86. Excluding strategic gains of $0.10 per share in 2021 and $0.13per share in 2020, diluted earnings per share for the quarter was $2.76, an increase of 24% (23% in constant currencies); and the Company declared a 7% increase in its quarterly cash dividend to $1.38 per share and also announced the resumption of its share repurchase program.
Yum! Brands, Inc . (NYSE: YUM ) Board of Directors recently declared a dividend of $0.50 per share of common stock. The quarterly dividend will be distributed December 10, 2021 to shareholders of record at the close of business on November 26, 2021.
Yum! Brands, Inc., based in Louisville, Kentucky, has over 52,000 restaurants in more than 150 countries and territories primarily operating the company's brands – KFC, Pizza Hut and Taco Bell – global leaders of the chicken, pizza and Mexican-style food categories. The Company's family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. Yum! Brands was included on the 2021 Bloomberg Gender-Equality Index and in 2020, Yum! Brands was named to the Dow Jones Sustainability Index North America and was ranked among the top 100 Best Corporate Citizens by 3BL Media.
Chipotle Mexican Grill /zigman2/quotes/200781108/composite CMG -5.23% recently brought a popular meme to life by launching Cilantro Soap, exclusively available for purchase on its website while supplies last.
Roughly 4 to 14% of the population is genetically wired to experience a soapy flavor when they eat cilantro*. With several Chipotle menu items featuring cilantro, the fresh green herb has been one of the most debated ingredients among fans on social media. Over the years, Chipotle has addressed fans' love and disdain for cilantro in popular social media posts. The brand posted a mock Cilantro Soap package on Instagram in August 2021 which inspired the launch of the real soap to delight super fans and amplify the conversation.
Restaurant Brands International Inc. /zigman2/quotes/202094900/composite QSR -2.33% and Firehouse Restaurant Group Inc. recently announced that they have reached an agreement for RBI to acquire Firehouse Subs for $1.0 billion in an all-cash transaction. The transaction offers significant long-term unit growth potential to drive attractive returns for all stakeholders and is expected to be immediately accretive to RBI's diluted net earnings per share.
Firehouse Subs adds a strong and loved restaurant brand with attractive unit economics in a complementary category to RBI's existing family of iconic quick service restaurant ("QSR") brands, Tim Hortons®, Burger King®, and Popeyes®.
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