bizjournals.com – Diners like the convenience and affordability of fast-food and fast-casual restaurants, a trend that shows no sign of slowing. Many of these chains have a presence across the country as they continue to expand. Here is a quick look at stories about the leading brands in the industry as recently reported by The Business Journals.
McDonald’s ends 42-year Olympic sponsorship quietly
After 42 years as an Olympic sponsor, McDonald’s is going quietly into the night during its final days. The fast-food giant and the International Olympic Committee agreed to a divorce in June 2017, three years prior to the scheduled expiration of its global rights deal. However, it stayed on as a domestic sponsor to the Pyeongchang Games. (Sports Business Journal)
Bloomberg: Document shows McDonald’s attempting to mimic Chick-fil-A’s successes
Head’s up, Chick-fil-A, the Golden Arches are coming for you. McDonald’s Corp. (NYSE: MCD) is making a move to becoming a “credible chicken player,” according to internal McDonald’s documents reviewed by Bloomberg News, and that means flying toward the successes of Chick-fil-A Inc. (Atlanta Business Chronicle)
Grubhub’s deal with Taco Bell and KFC is evidence of two new trends in restaurant technology
The stock of Chicago-based Grubhub soared last week on the news that it partnered with Taco Bell and KFC to offer their food for online ordering and delivery. For Grubhub (NYSE: GRUB), the most important result is that they will now be in hundreds of cities where they previously didn’t support any restaurants. But why did Taco Bell and KFC — both owned by Yum Brands(NYSE: YUM) — sign up? It’s because of two intertwined trends in restaurants and food service: the need for delivery and the need to control the quality of the delivery experience. (Chicago Business Journal)