Business
Store wars: Which chains are growing (and shrinking)

Store wars: Which chains are growing (and shrinking)

Faster food

So, which fast-food outlets are thriving? A new report from QSR ranking the top 50 chains in America reveals some of the fastest-growing chains in the country. In terms of raw restaurant unit count, it’s hard to beat the ever-omnipresent Starbucks — which, yes, according to QSR, is actually considered fast food — after the company added 429 stores in the last year, more than any other chain.

But, adjusting for its relative size, no chain has grown faster than Crumbl Cookies, which opened an astonishing 363 new units, adding a whopping 53% to its store count in a single year: not bad for a company founded in 2017 that relies on the humble cookie to pay its bills. Chicken lovers are also increasingly spoilt for choice, as chains like Wingstop, Popeyes and Chick-fil-A continue to expand — adding more than 500 units between the 3 of them in the last year. And if that still doesn’t whet your appetite, there’s also been room for both Taco Bell and Chipotle to keep expanding as well.

Slower food

Burger King, KFC and Panera Bread all reported modest net store closures — but it’s Subway that's slimming down most, shrinking its footlong footprint with some 571 store closures in the last year per QSR, as the company continues to explore a sale. Although this fresh upheaval saw 6x more closures than any other chain, it still leaves Subway with the largest store count in the country, with sandwich artists serving up subs at more than 20,000 locations nationwide.

More Business

See all Business
business

Paramount sues Warner Bros. for more info on its deal with Netflix, says it plans to nominate new directors

It’s a fresh week and that means a fresh bit of escalation in the ongoing Warner Bros. Discovery merger drama.

At an upcoming meeting, Paramount Skydance plans to “nominate a slate of [WBD] directors who, in accordance with their fiduciary duties, will... enter into a transaction with Paramount,” CEO David Ellison wrote in a letter to WBD shareholders disclosed on Monday.

Ellison also said that Paramount sued WBD in Delaware court in an effort to force the board to disclose “basic information” that will allow shareholders to make an informed decision between Paramount’s offer and one from Netflix. WBD shares dipped about 2% on Monday morning.

The latest update follows Paramount’s move last week to reaffirm — but not raise — its $30-per-share offer for WBD. Some saw that decision as Paramount effectively throwing in the towel on its merger hopes, given that the same deal has been rejected twice by the WBD board and winning over shareholders directly is a difficult process. Monday’s disclosure appears to signal that whether it loses or not, Paramount isn’t going to make Netflix’s acquisition easy.

business

Ford to bring eyes-off driving to its new EV platform by 2028

Ford is wading into the autonomous race against rivals like Tesla and GM.

On Wednesday evening, the Detroit automaker said it plans to introduce “Level 3” eyes-off systems to vehicles being built on its new production platform in Louisville by 2028. The first vehicle planned for the platform is a $30,000 midsize EV truck, planned for 2027.

In an interview with Reuters, Ford Chief EV and Design Officer Doug Field said the tech would not come at the $30,000 price point and would cost extra. Field said the company is still weighing just how much extra, and whether the system should be sold via a subscription model.

According to Ford, the eyes-off and hands-off tech will utilize lidar. Ford shares ticked up slightly in premarket trading on Thursday.

In August, Reuters reported that Ford rival Stellantis had shelved its Level 3 program due to high costs.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.