Choppin’ It Up by Bloomberg Intelligence

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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