Big News
Q2 financials for RBI: BK thriving, Tim Hortons lagging but heading to Spain

Aug. 2, 2017
Popeyes, Burger King and Tim Hortons parent company, Restaurant Brands International Inc, not only released its Q2 financial results for the three brands today but also announced that it's taking Tim Hortons to Spain, according to separate news releases. 

Overall, Restaurant Brands International posted an EPS of 37 cents a share, with progress in systemwide sales for all three brands, according to CEO, Daniel Schwartz.
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Executive Movements
MOD Pizza Appoints Paul Twohig as Chief Operating Officer
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Hard Rock International Appoints Stephen K. Judge as President of Cafe Operations
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WingHouse Bar and Grill Announces Appointment of New CEO
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Smoothie King Names Chief Operating Officer and Chief Marketing Officer

Sarah Spiegel is Caribou Coffee's new CEO
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Dunkin' Brands Appoints Jason Maceda Senior Vice President, Baskin-Robbins U.S. And Canada
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New Chief Marketing Officer and Chief Operating Officer Bring More Than 30 Years of Collective Industry Experience
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Salsarita's Fresh Mexican Grill Brings Seasoned Pro Aboard as President, COO
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Financial Overview

Dunkin' Brands Reports Second Quarter 2017 Results
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Starbucks closes Teavana stores, doubles down on China coffee shops as quarter misses forecasts
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McDonald's Corporation today announced  results for the second quarter
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Chipotle Second Quarter Diluted EPS Increased 167% on Comparable Restaurant Sales Increase of 8.1% and Revenue Growth of 17.1%
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Advent International Announces Majority Investment in Daytime Cafe Operator First Watch Restaurants
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Domino's Pizza® Announces Second Quarter 2017 Financial Results
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Del Taco Restaurants, Inc. Announces Fiscal Second Quarter 2017 Financial Results
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Ruth's Hospitality Group, Inc. Reports Second Quarter 2017 Financial Results
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Buffalo Wild Wings, Inc. Announces Second Quarter Earnings Per Share of $0.55 and Adjusted Earnings Per Share of $0.66
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Executive Chat
Featuring Clarice Turner, Boudin Bakery CEO 
by Rebecca Patt, SVP Development, Wray Executive Search

Rebecca Patt
Clarice Turner joined San Francisco-based Boudin Bakery as its new CEO in September 2016. The move to this iconic California brand seems a good fit for this industry veteran with deep roots in Northern California. Boudin Bakery is known as the home of "The original San Francisco sourdough" and operates 28 locations throughout California. Clarice formerly held executive roles with Starbucks, Papa Murphy's, and Yum! Brands.

"Leaders are made, they are not born. They are made by hard effort, which is the price which all of us must pay to achieve any goal that is worthwhile."
~Vince Lombardi

The Big Apple
New York Real Estate 2017
by Joe Radice, Vice President, Wray Executive Search

Joe Radice

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Restaurant Delivery Economics: What Could it Be?
by John A. Gordon, principal and founder of Pacific Management Consulting Group

John A. Gordon
We all know restaurant delivery has become the opportunity dejour, hopeful talk on delivery has recently caused security analysts to lift their entire restaurant industry perspective (see: Morgan Stanley, John Glass, July 2017). Stronger and weaker brands everywhere are talking about it; the real and perceived consumer sentiments, eating at home, the Blue Apron IPO and the Amazon purchase of Whole Foods provided unmistakable interest. However, one brand (doing real well) isn't doing delivery, no way: this week founder/CEO Ken Taylor of Texas Road House (TXRH) said he was happy to have his competitors deliver luke warm food in an attempt to make up for years of their declining traffic.

Financial Edge
Financial Engineering: Does it help or hurt a brand
by David Ulrich, EVP Wray Executive Search

David Ulrich
The concept of financial engineering is not new to the restaurant business, nor is it new to the companies that operate in this mindset. We've seen several brands get acquired in recent years by firms that conduct financial engineering to the nth degree, and to some, they'd say it's been a win-win for the brand and the franchisees.

Since breaking into the restaurant game in 2009, there's been one company that has made newsworthy acquisitions that seemed very beneficial to the buyers and insiders, but leaves one to question whether this company's philosophy and business practices does in fact help the brand it bought, along with the two additional brands it's acquired within the past 3 years.  
Culture Matters
Getting to the Critical Few Behaviors That Can Drive Cultural Change
by Kristy Hull, Director with PwC US

Kristy Hull
Focusing on a "critical few" behaviors is one of the fundamental tenets of working effectively with organizational culture. Sometimes called keystone behaviors, these are patterns of acting that are tangible, repeatable, observable, and measurable, and will contribute to achieving an organization's strategic and operational objectives. The behaviors are critical because they will have a significant impact on business performance when exhibited by large numbers of people; they are few because people can really only remember and change three to five key behaviors at one time. 
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