The rapid rise and fall of ghost kitchens [Business Insider]
Brinker International, Inc. (EAT)
Last brinker international, inc. earnings: 4/29 06:45 am
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Source: Business Insider
Brands like Wendy's and Kroger are shutting down their ghost kitchens, the Times reported. Ghost kitchens were an exciting pandemic-era innovation. But the anonymity bred lower standards. Ghost kitchens — once celebrated as an efficient innovation for the food industry — have instead been haunted by their own anonymity. Ghost kitchens are restaurants with no storefront and no seating that customers never see and which only do delivery. It seemed like a good idea during the COVID-19 pandemic. Restaurants and so-called virtual brands invested heavily in them. But demand decreased as the pandemic subsided and reliance on multiple layers of faceless technology gave rise to complaints about quality. Ultimately, customers never connected to many of the brands. And, now, many restaurants and virtual brands say the stress is not worth the payoff, according to The New York Times Several influencers and celebrities have used ghost kitchens to produce their own lines of food, like You
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- Brinker International, Inc. (NYSE: EAT) had its price target raised by analysts at Wedbush from $45.00 to $47.00. They now have a "neutral" rating on the stock.MarketBeat
- Brinker International (EAT) Gains As Market Dips: What You Should Know [Yahoo! Finance]Yahoo! Finance
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