Choppin’ It Up by Bloomberg Intelligence

There’s a lot of talk about how soft the consumer is, but our third-party delivery same-store sales are up 50% year over year, Brooklyn Dumpling Shop CEO Jeff Galletly tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Galletly sits down with BI’s senior restaurant and food-service analyst Michael Halen to discuss how the company is performing amid soft spending by fast-casual customers, particularly millennial and Gen Z consumers. He also comments on Brooklyn Dumpling Shop’s packaged-food business, value approach and a planned reverse takeover.

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If a leader wants to run a business that’s more focused on taking care of its people, he or she has to reflect on their own values and how they embody them, Liberty Ventures Founder and CEO Alexander McCobin tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, McCobin sits down with BI senior restaurant and foodservice analyst Michael Halen to discuss how the principles of conscious capitalism can help restaurant leaders leverage their values and company culture to achieve greater success. He also comments on the benefits of community, collaboration and creating value for all...

Value is more than just price — you have to give the guests an experience that exceeds their expectations, Golden Corral CEO Lance Trenary tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Trenary sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the buffet chain is growing same-store sales in a difficult consumer environment. He also covers operational improvements, managing food costs and weak spending by Hispanic and Gen Z consumers.

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Survey data show third-party delivery ads are hitting a saturation point and 45% of chains expect to invest less in the channel in 2026, Bikky Co-Founder Abhinav Kapur tells Bloomberg Intelligence. In this episode of Choppin’ It Up, Kapur sits down with BI’s senior restaurant and foodservice analyst, Michael Halen, to discuss the findings of Bikky’s chief marketing officer survey. He also comments on US consumer spending, loyalty promotions, personalization and shrinking marketing budgets.

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A significant challenge of allergen disclosure is that ingredient information is fragmented and frequently changing, while supply-chain tracking isn’t where it needs to be, Foodini cofounder and COO Erica Anderman tells Bloomberg Intelligence in this episode of the Choppin’ It Up podcast. Anderman and cofounder and CEO Dylan McDonnell sit down with BI senior restaurant and foodservice analyst Michael Halen to discuss the impact of California’s new law requiring restaurant chains to disclose major food allergens and how technology can help ease the transition. They also comment on the size of the food-allergy problem, differing regulations around the gl...

The rubber meets the road in Chipotle restaurants and the whole company is focused on improving operations, Chief Brand Officer Chris Brandt tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Brandt sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s plans to increase traffic and same-store sales. He comments on limited-time offers, Chipotle Rewards, international expansion and the power of influencer marketing.

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The majority of full-time servers and bartenders should see more money in their pockets due to the recently enacted US tax law, TipHaus’ Chief Operating Officer and co-founder Kirk Grogan tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Grogan sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the legislation might affect employees, employers and service models. He also comments on so-called tipflation, fraud and the elimination of the tipped wage in Washington, DC.

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If you’re not paying attention to catering, your restaurants are missing a huge opportunity to drive revenue, Costa Vida President Wade Allen tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Allen sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the fast-casual chain is driving top-line growth. He also comments on technology improvements and the roles that AI and agentic AI are best suited to fill at the restaurant level.

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The great brands open up the throttle at their busiest times, Fred LeFranc, Results Thru Strategy founder, managing partner and chaos strategist, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, LeFranc sits down with BI senior restaurant and foodservice analyst Michael Halen to discuss the logo controversy surrounding Cracker Barrel and how the company can return to same-store sales and profit growth. The two discuss remodels, nostalgia, branding and the company’s upcoming earnings report.

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Pizza Inn is a massive sleeping giant with latent equity, Rave Restaurant Group CEO Brandon Solano tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Solano sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why the chain’s buffet format is its biggest growth opportunity while weighing in on fast-casual pizza weakness, the rise of “Build-Your-Own Chipotle,” and Pizza Inn’s “Bambi & Friends” pie.

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US restaurant spending has been resilient, and guests are looking for a better sit-down experience, SPB Hospitality CEO Josh Kern tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Kern sits down with BI senior restaurant and foodservice analyst Michael Halen to discuss how the company’s brands, including J. Alexander’s and Krystal, are performing this year. He also comments on M&A and refranchising opportunities as well as dirty sodas and the impact of GLP-1s.

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What other restaurant can you go to and get a chicken-fried oyster taco? Velvet Taco CEO Clay Dover sits down with Bloomberg Intelligence senior restaurant and foodservice analyst Michael Halen in this episode of the Choppin’ It Up podcast to discuss the chain’s unique menu and fun, irreverent culture. He also comments on the chain’s opportunities for top-line growth, including US and international development, as well as its new bowl launch.

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The restaurant industry could post a 1-2% same-store sales increase for 2025, BI’s senior restaurant and foodservice analyst Michael Halen tells Bloomberg’s restaurants reporter Daniela Sirtori. In this episode of the Choppin’ It Up podcast, Halen and Sirtori discuss BI’s views on 2H same-store sales and margins. They also talk about what economic indicators and more discerning consumers mean for top-line growth, as well as BI’s outlook for several companies, including Chipotle, Cracker Barrel, McDonald’s and Starbucks.

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Sales almost double when Smokey Bones restaurants are converted to the Twin Peaks chain, FAT Brands’ Chairman Andy Wiederhorn said on this episode of the Choppin’ It Up podcast. Wiederhorn joins Michael Halen, Bloomberg Intelligence’s senior restaurant and foodservice analyst, to discuss FAT Brands’ growth opportunities, including Twin Peaks, and plans to repay debt. He also comments on franchisee health, everyday value and the refranchising of Fazoli’s.

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US restaurant development is outpacing population growth by about 5x, according to SignalFlare.ai Founder and CEO Michael Lukianoff. In this episode of Choppin’ It Up, Lukianoff sits down with Bloomberg Intelligence’s senior restaurant and foodservice analyst, Michael Halen, to discuss how chains can use data analytics and AI to compete in a difficult environment. He also comments on strategic pricing, quick-service discounting, marketing tactics and weak spending among middle-income consumers.

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Establishing a digital relationship with the 75% of a chain’s patrons that aren’t loyalty customers will be the growth engine for full-service restaurant traffic going forward, Ziosk Cofounder and Chief Revenue and Growth Officer Raymond Howard tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Howard sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the company’s offerings, including order and pay on demand, are helping restaurant chains improve their restaurant operations and marketing. He also comments on AI and his vision of the smart-table experience of the future. Duration: 00:28:26

M&A is a great opportunity for HF Foods Group because Asian specialty foodservice distribution is primarily made up of smaller competitors and HF is the only national player in the US, CEO and President Felix Lin tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Lin sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s plans to grow organically and via acquisitions. He also comments on the new e-commerce platform, competition from Sysco and the impact of tariffs.

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Voice AI at the drive-thru is one or two years away from being ready to be rolled out to hundreds of thousands of locations, Checkmate CEO and founder Vishal Agarwal tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Agarwal sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the rapid evolution of voice AI technology. He also comments on how kiosks have become a must have, the rapid growth of catering and what problems AI is best suited to solve.

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Every Just Salad employee is trained in culture, connecting with customers and the consistency of product and hospitality, according to founder and CEO Nick Kenner. In this episode of Choppin’ It Up, Kenner sits down with Bloomberg Intelligence’s senior restaurant and foodservice analyst, Michael Halen, to discuss how the chain’s operations help set it apart from competitors. He also comments on Just Salad’s growth plans, diverse customer base and the tightening consumer environment.

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Where we were with trade talks six weeks ago and where we are now are very different and that trajectory will continue over the next six weeks to six months, Align Public Strategies’ Founding Partner Joe Kefauver tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Kefauver sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why he thinks the worst of the tariff showdown is behind us. He also comments on tax cuts, the MAHA movement’s progress and a recent study on the impact of the FAST Act.

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Poor order accuracy is a fast way to lose customers and gain one-star reviews, Ovation’s CEO and Founder Zack Oates tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Oates sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why even though most customer complaints are about food, it’s more important for restaurants to address grievances about accuracy and service. He also comments on why a bad review is a gift.

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Authentic Restaurant Brands wants to be national, but it’s going to get there by being regional across the country, CEO Alex Macedo tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Macedo sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s unique strategy of acquiring strong regional brands and helping them improve sales and profit instead of supercharging unit growth. He also comments on the M&A market and why it’s become increasingly difficult to scale up national brands in a cost-effective way.

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Chili’s accelerated sales growth is sustainable because the company is working with the fundamentals of casual dining — the food, service and atmosphere are all better and team members are having more fun and making more money — Brinker’s CEO Kevin Hochman tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Hochman sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why he believes Chili’s turnaround remains in the early innings. He also comments on menu simplification, strategic pricing and the importance of the Turbo Chef oven rollout, as well as improving s...

El Pollo Loco has some of the lowest turnover in the industry, CEO Liz Williams tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Williams sits down with BI’s senior restaurant and food-service analyst Michael Halen to discuss the company’s plans to implement technology to improve the employee and customer experience. She also comments on El Pollo Loco’s brand relaunch, remodels, margin expansion and new food items, including quesadillas.

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It’s imperative for restaurant brands to use guest data to become more efficient with their marketing and drive profitable traffic, Olo’s CEO and Founder Noah Glass tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Glass sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s plans to grow with new and existing customers in its three product suites: online ordering, payment and personalized marketing. He also comments on Olo’s new partnership with FreedomPay and a sizable opportunity in catering order management.

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Consumers need to be able to count on restaurant brands for a great value proposition, Denny’s CEO Kelli Valade tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Valade sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the importance of everyday value amid some US consumer weakness to start the year. She also comments on Denny’s remodels and loyalty program changes as well as growth plans for Keke’s Breakfast Café.

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Dairy Queen’s international development team seeks to expand into countries where they can quickly grow market share, the customers can afford the product, a sizable limited-service market already exists and strong potential franchisee partners operate, Chief Operating Officer Nicolas Boudet tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Boudet sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s sizable overseas operations and development strategy. He also comments on recoveries in China and the Middle East.

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Any time you go through a disaster, the first thing you want to do is find your family and hug them, Main + Main’s CEO and Los Angeles resident Kyle Kavanaugh tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Kavanaugh sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the wildfires will affect Californians and the state’s restaurant industry. He also comments on the coming 2026 World Cup, Super Bowl and 2028 Summer Olympics in the city, and hot markets for restaurant development, including the sun belt and Texas.

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Twin Peaks’ first conversion of a Smokey Bones restaurant is generating run rate sales of $8.3 million, up from $3 million before the switch, CEO Joe Hummel tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Hummel sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s unit-growth strategy, including plans to convert half of its Smokey Bones locations. He also comments on the importance of balancing data analytics with restaurant visits, and plans for excess cash.

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At its core Tom’s Watch Bar is a “super sports bar,” cofounder and co-CEO Brooks Schaden tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Schaden sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how hundreds of screens and an upscale menu separate its sports-entertainment venues from the competition. He also comments on the impact of sports betting, Formula 1 and emerging leagues like the WNBA on the business.

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Cracker Barrel’s innovation team is “on fire” and just getting started, CEO Julie Masino tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Masino sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the company’s approach to menu enhancement. She also comments on Cracker Barrel’s value, changes to its marketing program and a 17 percentage-point improvement in employee turnover in 1Q.

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Leaning into the wood fired grills, bringing fine-dining elements to a more casual environment and an affinity for families are points of differentiation for Firebirds Wood Fired Grill, CEO Steve Kislow tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Kislow sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the drivers of the chain’s same-store sales outperformance vs. casual dining peers. He also comments on employee turnover, one-to-one marketing and his outlook for inflation in 2025.

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Fast-food chains have lost their value and convenience advantages over competitors, Restaurant Insight Monitor Founder and Partner Tom Wagner tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Wagner sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how lower cost of goods sold and the proliferation of mobile apps have hurt quick-service industry sales. He also comments on McDonald’s $5 Meal Deal and why it’s so important for restaurant chains to attract millennials and Gen Z.

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The No. 1 issue behind the spread of foodborne illnesses is food handling and handwashing practices, making up 89% of outbreaks, PathSpot CEO and cofounder Christine Schindler tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Schindler sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss what restaurant chains can do to protect their employees and customers. She also comments on the importance of tracking food temperatures throughout the supply chain and monitoring expiration dates, as well as the impact of food-safety issues on brands like McDonald’s.

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Cava’s brand awareness has gotten a boost from the 2023 IPO, social media and its growing consumer packaged goods business, Chief Experience Officer Andy Rebhun tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Rebhun sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the chain’s marketing strategy is boosting same-store sales. He also comments on the success of its grilled steak and how the connected kitchen initiative can improve quality, consistency, order accuracy and speed of service.

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Shake Shack’s food speaks for itself, but marketing can help reinforce the qualities that make it special like brisket in the burgers and shakes made with custard, CEO Rob Lynch tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Lynch sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how changes to the company’s marketing program -- including plans to highlight its premium ingredients, create a strategic calendar for limited-time offers and increase spending -- can boost customer frequency. He also comments on kitchen and operational improvements and his vision f...

Guests are very willing to adopt kiosks as a part of their ordering process, and the technology can boost check averages 20% or more for some restaurants, Bite CEO Brandon Barton tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Barton sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how kiosks are being used for upselling and can ease staffing challenges. He also comments on voice AI, facial recognition and McDonald’s new kiosks that accept cash.

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The US presidential race is between Vice President Kamala Harris, former President Donald Trump and the couch, according to Bloomberg Intelligence senior policy analyst Nathan Dean. In this episode of the Choppin’ It Up podcast, Dean sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why strong voter turnout may help Harris. He also comments on how turnout could decide which party controls the US House of Representatives, why Republicans have an inside track at a Senate majority, tariffs, M&A, price gouging, consumer-facing company regulation, tax reform and why he doesn’t think tips w...

It’s a battle for restaurants to become top of mind with consumers, so generating cultural relevance is imperative, Chili’s Chief Marketing Officer George Felix tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Felix sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how ad campaigns with Brian McKnight, Boyz II Men and Jenna Fischer and Angela Kinsey from The Office, as well as investments in TikTok and influencer marketing, are driving Chili’s same-store sales and traffic gains. He also comments on operational improvements, fajita enhancements, Ziosk tablets and the lo...

Restaurants can’t just raise prices, they need to use data to make real-time decisions to cut waste and excess costs, says Craftable CEO and co-founder Samuel Zats. In this episode of Bloomberg Intelligence’s Choppin’ It Up podcast, Zats sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how artificial intelligence can help project sales, reduce costs and help inform labor and purchasing decisions. He also comments on digital sales, commodity inflation and what types of functions are best solved by AI.

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More and more ranchers are transitioning to regenerative practices, Hibar Hospitality CEO Jeff Chandler tells Bloomberg Intelligence, and he is hoping 100% of the beef Hopdoddy sells will be raised this way in the next couple of years. In this episode of the Choppin’ It Up podcast, Chandler sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why the decision to source the burger chain’s ingredients from regenerative farms and ranches was a no-brainer. He also talks about loyalty programs, the growing popularity of chicken and the company’s unique approach to dealing with general...

American consumers are getting squeezed and spending their restaurant dollars on indulgent snack times and value plays, Savory Fund Managing Partner and Co-Founder Andrew Smith tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Smith sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss what’s working and what isn’t in a difficult economic environment. He also comments on hot culinary trends, restaurant tech, CosMc’s and his bullish growth outlook for Asian concepts in the US.

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Many restaurant companies could cut guidance this year as low-income consumers and industry sales remain challenged, Guggenheim Partners Director and Lead Restaurant Analyst Greg Francfort, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Francfort sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss aggressive US coffe- shop development, quick-service discounting and strong demand for chicken brands. He also shared which companies he thinks have a moat on pricing and traffic including Chipotle, Domino’s Pizza, Texas Roadhouse and Wingstop.

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It is becoming clear that delivery in the US isn’t working for anyone, Empower Delivery CEO Meredith Sandland, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Sandland sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why consumers, restaurant owners and drivers are unhappy with the current state of delivery and what can be done to improve the experience for all parties. She also comments on the state of ghost kitchens and Amazon.com’s decision to take a bigger stake in GrubHub and add GrubHub+ to its Prime membersh...

Restaurant real estate is expensive and vacancy is low, motivating chains to pivot to alternative formats and omni-channel development including nontraditional units, Full Course Founder and CEO Lauren Fernandez tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Fernandez sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss smart growth strategies for emerging brands. She also comments on lending weakness, opportunities in the M&A market and the benefits of contract manufacturing. 

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Cultivated meat can give customers a product they love without the negative impact to the environment, Meatable Founder and Chief Technical Officer Daan Luining tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Luining sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how cultivated meat is produced and why it may be more attractive to consumers than plant-based options. He also comments on adoption rates, distribution models and regulatory issues.

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The volume of restaurant mergers and acquisitions remains well below 2019-21 levels, but private-market activity is starting to pick up, Harrington Park Advisors Founder and Managing Director Ashish Seth tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Seth sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the state of the M&A market, including investors’ preference for franchised brands over company-owned ones. He also comments on valuations and the lending market and describes the matchmaking process between acquirers and target companies. 

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No-shows remain in the 20% range in the fine-dining industry, Head of Tock Matt Tucker tells Bloomberg Intelligence, despite demand that far outstrips supply, hurting unit profitability. In this episode of the Choppin’ It Up podcast, Tucker sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the prepayment of reservations can help fine-dining establishments maximize revenue. He also comments on the shift to earlier dinner reservations, the state of the M&A market for restaurant-tech companies and unique ways restaurants are implementing dynamic pricing. 

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Puttshack owns a global concept patent on automatic scoring in miniature golf, CEO Joe Vrankin, tells Bloomberg Intelligence, creating a barrier to entry for its competitors. In this episode of the Choppin’ It Up podcast, Vrankin sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the company has used technology to reinvent the game and paired it with a food and cocktail menu to attract the coveted 21-39 year-old demographic. He also comments on Puttshack’s unit economics, marketing strategy and development plans. 

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Foodservice distribution capacity is very tight, Datum FS Founder and President David Maloni tells Bloomberg Intelligence, contributing to higher prices for their restaurant customers. In this episode of the Choppin’ It Up podcast, Maloni sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how higher distribution and labor expenses are contributing to inflation in the restaurant supply chain. He also comments on feed costs, Section 204 of the the FDA Food Safety Modernization Act and his outlook for several commodities including cattle.

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Global bubble-tea sales could double or triple to more than $5 billion in the next 5-6 years, Gong cha Global President of the Americas Geoff Henry tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Henry sits down with BI’s senior restaurant and foodservice analyst Michael Halen to explain how the company is capitalizing on shifts in the global beverage landscape. He comments on Gong cha’s customer demographics and unit economics, as well as its shift to a direct franchising model in the US.

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The Israel-Hamas war is a bigger issue for McDonald’s and Starbucks than many other food chains due to reputational risk, deeper sales declines and greater exposure to high-impact countries like Jordan, Egypt and Morocco, Shatranj Capital Partners co-founder and general partner Brandon Guthrie tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Guthrie sits down with BI’s senior restaurant and foodservice analyst Michael Halen to explain how the war has affected sales in the Middle East and how long the recovery might take. He also comments on the wealth of opportunities for private equity invest...

Restaurant chains are revamping loyalty programs this year because they aren’t working, Thanx CEO and Founder Zach Goldstein tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Goldstein sits down with BI’s senior restaurant and foodservice analyst Michael Halen to explain what loyalty programs must accomplish to successfully drive traffic. He also comments on AI, dynamic pricing and the cycles of all-in-one tech. 

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Salad and Go’s mission -- to make fresh, nutritious food affordable and convenient for all -- is unique in the restaurant industry, CEO Charlie Morrison tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Morrison sits down with BI’s senior restaurant and foodservice analyst Michael Halen to explain how the company’s vertically integrated approach allows it to sell salads and wraps for under $7. He also comments on this year’s plans to boost brand awareness as well as its expansion into catering and delivery.

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Collaboration and alignment between restaurant operations and marketing teams is critical to driving traffic without hurting the guest experience, Ray Johnson, Founder of ReCee’s Leadership Consulting Group, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Johnson sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how better employee retention and ease of execution can generate long-term, sustainable sales growth. He also commented on depressed productivity levels, the importance of team-member training and how a greater mix of off-premise sales has hurt restaurant-level execution. 

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Fogo de Chao doesn’t build a site pipeline until it has three years of visibility into the development of general managers, CEO Barry McGowan tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, McGowan sits down with Michael Halen, BI’s senior restaurant and food service analyst, to explain how the company’s investments in its employees are fueling strong sales and traffic growth. McGowan also comments on Fogo de Chao’s acquisition by Bain Capital and explains how a unique service model drives best-in-class restaurant-level margin.

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Mexican fast casual is the only dining category that doesn’t have a list of 20 mature competitors slugging it out for market share, CEO of Modern Restaurant Concepts John Cywinski tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Cywinski sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss Qdoba Mexican Eats’ growth opportunity and plans to accelerate new-store development to 100 restaurants a year. He also comments on Qdoba’s move to national marketing, margin-expansion opportunities, the health of the US consumer and the emerging Modern Market Eatery fast-casual chain. 

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 Great franchisees will make Potbelly stronger for 20, 30 or 40 years, CEO and President Bob Wright tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Wright sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how attracting the right franchisees should enable the company to achieve 10% net unit growth this year. He also comments on the Potbelly Digital Kitchen and margin-expansion opportunities and explains what has fueled the chain’s same-store sales gains since 2019. 

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A record number of restaurant-tech companies could shut their doors for good in 2024, Juan George, co-founder of 858 Partners, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, George sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss difficulties facing companies that make “nice to have” restaurant technology, including raising capital, stalling top-line growth and falling valuations. He also comments on all-in-one solutions and explains why building proprietary tech isn’t a serious consideration for most restaurant chains.

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Patients taking GLP-1 drugs reduce their snacking and alcohol consumption, but the overall impact on the restaurant industry will be minimal, Allan Hickok, senior advisor at the Boston Consulting Group, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Hickok sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the drugs are affecting consumer behavior. He also commented on generative AI, loyalty programs and menu pricing.

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Red Robin Gourmet Burgers’ new flat-top grills make better burgers, improve efficiency and give the chain more menu optionality going forward, CEO and President G.J. Hart tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Hart sits down with BI’s senior restaurant and foodservice analyst Michael Halen to give an update on the chain’s North Star plan, which includes improved food and operations, fewer discounts and new compensation plans for market partners and single-unit operators. He also comments on marketing spending, sale-leaseback transactions and changes to the loyalty program. 

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Restaurant CEOs seem pretty confident that sales will hold up just fine as the use of GLP-1 drugs increases, Daniela Sirtori-Cortina, Bloomberg News restaurant reporter, tells BI. In this episode of the Choppin’ It Up podcast, Sirtori-Cortina sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how drugs like Ozempic are forcing chains to consider salads, chicken and smaller portions. She also comments on the popularity of small indulgences amid a consumer slowdown and productivity improvements at Starbucks and Popeyes.  

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On the surface it looks like US employment is strong but labor participation is lower than pre-pandemic levels and there are nearly four million part-time workers, many of which have multiple jobs, Vivian Wang, founder and CEO of Landed, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Wang sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how fewer full-time jobs and the gig economy are impacting restaurant hiring and retention. She also commented on application volume, chat bots and late-night staffing improvements. 

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Honeygrow keeps G&A tight and is profitable on a net income basis, founder and CEO Justin Rosenberg tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Rosenberg sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the emerging chain’s strong unit economics and commitment to growing profitably. He also comments on Honeygrow’s development plans, stiff competition for real estate and his reluctance to raise menu prices amid higher gas costs and other pressures facing US consumers. 

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This will be a year of stealing share because the restaurant industry isn’t going to drive positive traffic, Mark Kuperman, COO of Revenue Management Solutions, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Kuperman sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss why quick-service transactions, particularly at breakfast, are declining. He also commented on national promotions, labor dynamics and dynamic pricing.

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Blaze Pizza’s new, smaller format stores are half the size of existing units and cost 25-35% less to build, CEO Beto Guajardo tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Guajardo sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the chain’s US and international development plans and alternative store formats including drive-thrus. He also comments on issues like finding quality real estate, tighter financing for franchisees and his approach to finding great employees.

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“We see a lot of challenges ahead, especially for the US consumer,” Howard Penney, managing director and consumables analyst at Hedgeye Risk Management, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Penney sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss his near-term outlook for restaurant spending and which companies can thrive in a difficult environment. Spoiler alert -– large, franchise chains can outperform. He also commented on stubborn beef inflation, overstated Wall Street sales estimates and turnaround plans at Brinker and Burger King.

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The Melt’s turnaround was fueled by input from team members and customers, CEO Ralph Bower tells Bloomberg Intelligence, fueling a 400% jump in average unit volume (AUV) since 2017. In this episode of the Choppin’ It Up podcast, Bower sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the chain’s approach to hospitality, restaurant development, price hikes and third-party delivery. He also comments on supply chain and permitting issues, as well as the challenges of doing business in California.

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Freddy’s Frozen Custard & Steakburgers is highly focused on its franchisees and their returns on investment, President and CEO Chris Dull tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Dull sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the chain works with its partners to maximize their sales and profitability, boosting store growth. He also comments on the company’s real estate opportunities, technology improvements and how they’re attracting Gen Z customers.

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Emotional connection drives consumer decisions and every marketing campaign needs to bring customers on an emotional journey to be successful, Beni Gradwohl, CEO and cofounder of Cognovi Labs, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Gradwohl sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how Cognovi uses its psychology-driven AI to form consumer behavior insights. He commented on recent struggles for Target, Bud Light and plant-based meat, as well as opportunities for ChatGPT and large-language models.

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One-third of private companies in the US have all-male boards of directors and just one in seven of those seats are occupied by a woman, Jocelyn Mangan, CEO and founder of Him for Her, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Mangan sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how her non-profit organization is helping to bridge the gap between opportunities and talented women ready for board service. She also comments on building high functioning boards and hot topics including ESG, AI and automation.

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The digitally native restaurant could overtake fast casual and become the fastest growing concept in the US, Carl Orsbourn, co-author of the Delivering the Digital Restaurant book series and chief operating officer at Juicer, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Orsbourn sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss dynamic pricing as well as the importance of using data and converting customers to first-party from third. He also comments on the growing pains currently experienced by ghost kitchens and virtual brands.

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First Watch’s one shift, one menu model has given First Watch a hiring and employment advantage, Matt Eisenacher, First Watch’s Senior VP of Brand Strategy and Innovation, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Eisenacher sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss the chain’s strong turnover metrics, unit economics and expansion opportunity. He also comments on the company’s acquisition of franchised restaurants, tech initiatives and alcohol program.

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No company is immune from an “oh-no!” moment, Deborah Nitka, senior manager of cybersecurity and privacy at Cohn Reznick, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Nitka sits down with BI’s Senior Restaurant and Foodservice Analyst Michael Halen to discuss how data security concerns affect consumer behavior and could slow the shift to one-to-one marketing. She also comments on vulnerability points, third-party risk and cybersecurity insurance.

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If Portillo’s can prove that its iconic and unique menu is accepted outside of its home market of Illinois it may deserve the fattest multiple in the restaurant industry, Michael Osanloo, Portillo’s CEO, tells Bloomberg Intelligence. In this episode of the Choppin’ It Up podcast, Osanloo sits down with BI’s Senior Restaurant and Foodservice Analyst Michael Halen to discuss the chain’s impressive unit economics and expansion into Arizona, Florida and Texas. He also comments on beef inflation, leveraging G&A expense and what’s fueling the chain’s strong operational performance. 

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Restaurant success is all about the employees, Fred LeFranc, Results Thru Strategy founder, managing partner and chaos strategist says. In this episode of the Choppin’ It Up podcast, LeFranc sits down with Bloomberg Intelligence Senior Restaurant and Foodservice Analyst Michael Halen to discuss his approach to empowering employees to turn around struggling, mature brands and help emerging ones supercharge their growth. He also comments on the importance of culture, using the right technology and having a stakeholder mentality that supports workers, vendors, customers and communities. 

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The market for restaurant mergers and acquisitions is rough seas right now, Mike Gottlieb Managing Director of National Hospitality Advisory at CohnReznick explains to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Gottlieb sits down with BI Senior Restaurant and Foodservice Analyst Michael Halen to discuss the headwinds for private equity investors, opportunities for strategic acquirers and what chains can do to prepare themselves for a transaction once the market loosens up. He also comments on the outlook for restaurant IPOs and how he’s helping his clients prepare for a potential recession. 

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Walk-Ons Sports Bistreaux has avoided staffing issues due to a strong culture that emphasizes team over the individual, CEO Scott Taylor explains to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Taylor sits down with BI Senior Restaurant and Foodservice Analyst Michael Halen to talk about the company’s underdog mentality, unique menu, technology upgrades and strong growth plans. The chain of sports bars differentiates itself with scratch cooking and Cajun menu items that help fuel impressive sales volume.

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The collapse of Silicon Valley Bank could make venture debt more expensive and harder to get for restaurant tech startups, Jimmy Frischling and Michael Shatzberg, Managing Partners and Co-Founders of Branded Hospitality Ventures, explain to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Frischling and Shatzberg sit down with BI Senior Restaurant and Foodservice Analyst Michael Halen to talk about some cutting-edge restaurant tech startups that aim to eliminate pain points and reduce costs for restaurant owner/operators and their franchisees. They also comment on technology company valuations as well as QR codes, ESG, AI and robotics an...

Food consistency, superior service and employee training are critical to success in the restaurant market, Marvin Alballi, Chief Operating Officer of Franchise Global Brands and author of “Restaurant Excellence: The Ultimate Guide to Success in the Food and Beverage Industry,” explains to Bloomberg Intelligence. In this podcast episode of Choppin’ It Up, Alballi sits down with BI Senior Restaurant and Foodservice Analyst Michael Halen to talk about running great restaurants. He also comments on Burger King’s US turnaround and what keeps his consulting clients up at night.

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Noah Glass, Founder and CEO at Olo, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the company’s culture, product suite and growth strategy. Olo’s online ordering and delivery solutions have been invaluable to its restaurant clients and the company continues to innovate to achieve its goal of digitizing every transaction, including in-restaurant and drive-thru occasions. This is a massive opportunity; only 6% of US restaurant transactions are digital. Glass believes the company can grow sales 100-fold; its 84,000 restaurant locations can expand 4x and average revenue per unit could jump 25x as payment, data anal...

Joe Kefauver, Founding Partner of Align Public Strategies, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the US political climate following the mid-term elections. Kefauver explains what a split Congress means for the restaurant industry, gives an update on the FAST Act in California, discusses the progress made by labor unions and outlines what the industry should be lobbying for in 2023.

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Rich Reyes, CEO and Co-Founder of Mecha Noodle Bar, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the chain’s strong commitment to giving back to the communities in which it operates. Mecha’s full-service restaurants serve pho, ramen and cocktails to ‘90s hip hop, but what really sets the chain apart is its commitment to charitable giving. Each month Mecha donates 50 cents from every bowl sold to a charity chosen by its staff, doing good while fostering employee and customer loyalty.

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Matthew de Gruyter, CEO and Co-Founder of Next Level Burger, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the plant-based burger chain’s menu, mission and development plans. Next Level Burger is America’s first 100% plant-based burger joint committed to giving customers a healthier option to traditional fast food by serving vegan, organic and non-GMO foods. Sustainability, living wages, an investment by Whole Foods Market and why Next Level chose Beyond Meat over Impossible Foods are among the topics covered.

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Riley Lagesen, Shareholder and Chair of the Global Restaurant Industry Group at GreenbergTraurig, and Jonathan Sack, Shareholder at GreenbergTraurig, join Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the impact of unionization on the restaurant industry. Restaurant employees have historically been opposed to it, but unions see an opportunity with US approval of labor unions at a 57-year high. The organization efforts at Starbucks and Chipotle as well as other potential targets, election tampering and strategies to head off unionization are among the topics covered

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Riley Lagesen, Shareholder and Chair of the Global Restaurant Industry Group at GreenbergTraurig, and Jonathan Sack, Shareholder at GreenbergTraurig, join Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss California's passage of the Fast Act. The legislation will increase costs for fast food chains, including a potential 47% jump in hourly wages to $22. Menu price hikes, automation and potential challenges to the legislation are some of the topics covered.

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Michael Lukianoff, Chief Executive Officer and Founder of Extropy 360, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss a more localized, data-driven approach to implementing menu price increases. Dynamic pricing, the return of discounting, slowing summer sales and the health of the US consumer are some of the topics covered.

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Atul Sood, Chief Business Officer at Kitchen United, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the future of food delivery and ghost kitchens. Kitchen United's omnichannel approach, virtual brands, third-party economics and autonomous delivery are some of the topics covered.

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Alice Elliot, Founder and CEO of The Elliot Group, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss leadership and human capital. Hiring trends, including C-suite and restaurant-level turnover, as well as hybrid work and diversity are some of the topics discussed.

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Gregory Francfort, Senior Restaurant Analyst at Guggenheim Partners, joins Michael Halen, Senior Restaurant and Foodservice Analyst at Bloomberg Intelligence, to discuss the industry. Deteriorating sales trends, Wall Street's lofty 2022 margin assumptions and the prospects for individual companies including McDonald's and Yum! Brands are discussed.

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