Last year, America's biggest chain restaurants went all in on breakfast. Now, with people stuck at home because of the coronavirus pandemic, it's one of the industry's worst-performing segments.
Companies ranging from Wendy's to McDonald's to Dunkin' invested heavily in the meal, testing out everything from new chicken sandwiches to plant-based options. Now, with people stuck at home because of the coronavirus pandemic, it's one of the industry's worst-performing segments. McDonald's CEO Chris Kempczinski said during the company's first-quarter analyst call last week that"breakfast is down" compared to other meals.
president Jay Johns during a recent call discussing the chain's financial results."If you're only going to order out one time a day," he said, you're more likely to order dinner. Read MoreLower breakfast sales are a problem for the fast food industry, which was struggling to maintain customers and bring in new ones even before the pandemic, as more upscale, fast-casual chains like Chipotle and Panera brought in a higher share of diners.
announced a new fast-casual breakfast concept called Flip'd, targeted at customers who want breakfast on the go. Flip'd will serve -inspired items, like pancake bowls, egg sandwiches and breakfast burritos. But unlike meals, Flip'd locations will have limited seating, and its offerings are designed to be eaten on the go. Wendy's launched its breakfast before states started issuing stay-at-home orders because of the pandemic. It saw immediate results. The launch"truly exceeded our expectations," said CEO Todd Penegor said during a call discussing the company's earnings Wednesday.
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