These Two Popular Restaurants Are Seeing Sales Skyrocket
The coronavirus forced many treasured restaurants to close their doors. But two fast-food chains saw an increase in profits this year thanks to a restaurant industry that looks completely different.
Yum! Brands announced that two of its brands, KFC and Pizza Hut, recorded sales jumps not seen in years, according to Restaurant Business.
The large sales at Pizza Hut are similar to other pizza places. This isn't surprising — it is pretty easy to call or order a pizza online and have it delivered. But what is really driving sales are the deals. The Big Dinner Box, which includes a combination of medium one-topping pizzas, breadsticks, pastas and/or wings promises to feed the whole family for around $20.
Similarly, Yum! says KFC's average weekly sales hit all-time highs at the beginning of May. Buckets of chicken are great for sharing, and meals come with sides, a drink and an entree. This means no cooking! With restaurants closing their dining rooms, drive-thrus quickly saw an increase in demand. The numbers show that was the case at the fried chicken family favorite.
Unfortunately, restaurants with a different kind of dining approach haven't been as lucky. Places that offer customers more than just food can't keep up since they had to close their doors. Chuck E. Cheese is on the brink of filing for bankruptcy after being forced to shut down their arcades and kid's birthday party opportunities. Applebee's Neighborhood Grill is shutting 264 of its locations for good. TGI Friday's is following suit and closing over 70 locations after sales continued to fall after a tough final quarter of 2019. Le Pain Quotidien filed for Chapter 11 bankruptcy in late May but accepted a buyout from Aurify Brands, which means 35 locations out of 98 will stay open.
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