Palm Beach, FL – February 2, 2022 – FinancialNewsMedia.com News Commentary – The rising popularity of poke bowl has led to its robust demand, which is projected for years to come. A report from Research Reports World projected that the global Poke Foods market is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2024. In 2022, the market was growing at a steady rate and with the rising adoption of strategies by key players; the market is expected to rise over the projected horizon. Another report from Fortune Business Insights added said: “The global poke food market is segmented by type, and end-use application. The tuna type segment is accounted for holding the major market share as it is the traditional variant of raw fish incorporated in the poke. Along with this, the high nutritional content in tuna makes the poke a healthy dish. The commercial end-use application is holding the major share in the market owing to the rising dining out trend. Moreover, the ready-to-eat poke saves the cooking time and has led to the consumers increased reliability on the commercial sector. North America is expected to witness a robust growth in the market as the consumers are increasingly demanding for innovative and healthy food. The ease of convenience offered by the poke bowl and significant rise in the number of restaurants serving poke has driven its regional market. Active companies in the markets this week include Muscle Maker, Inc. (NASDAQ: GRIL), Sweetgreen, Inc. (NYSE: SG), Bloomin’ Brands, Inc. (NASDAQ: BLMN), Shake Shack Inc. (NYSE: SHAK), BJ’s Restaurants, Inc. (NASDAQ: BJRI).
Fortune Business Insights continued: “Europe is anticipated to observe a significant growth due to the rising demand of consumers for Convenience food products. Further, according to Eurostat the employment rate in Europe increased by 6.3% in 2019, which has led to rise in the working population. The employment rate also depicts that the large number of people are involved in working and thus, less time spent on cooking. All these factors drive the growth of European poke food market. Asia Pacific is expected to exhibit significant growth in the market due to the rise in acceptance of cross-culture food trend. Along with this, the increase in popularity and consumption of seafood due to its health benefits has boosted its regional market growth.”
Muscle Maker, Inc. (NASDAQ: GRIL) BREAKING NEWS: Muscle Maker’s Pokemoto Division Expands into Florida Market, Signs Three New Franchise Agreements – Muscle Maker, Inc. newest subsidiary Pokemoto, today announced it has signed three new franchise agreements in southwest Florida. These three new agreements bring the total of new franchise and development agreements signed to 30 since November 2021. These 30 new agreements, once opened, along with six new Pokemoto locations previously opened since the chain was acquired in May 2021, would represent a Pokemoto division growth rate of 300%. In this same timeframe, Muscle Maker, Inc also signed a 40-unit Muscle Maker Grill restaurant development agreement in Saudi Arabia fueling the company’s international pipeline.
The three new southwest Florida franchise agreements are focused on the Gulf Coast specifically in Lee and Collier counties. Both counties are comprised of cities that draw a strong tourist crowd in search of beaches, sunshine and fresh seafood options. The Pokemoto real estate team will concentrate on potential sites with heavy traffic and a strong Millennial and Gen-Z presence in prime areas of both markets. In addition, the company is preparing to open three additional corporate owned and operated Pokemoto locations – two in Miami and one in Jacksonville. These locations are currently in planning and construction stages.
“We’ve had the Florida market on our radar since acquiring the brand in May, 2021 and now our plans to enter the market are coming to fruition. Our fresh, delectable Hawaiian poke cuisine just makes sense for the Florida landscape. We now have three franchise agreements for southwest Florida in the pipeline and three corporate locations in the construction phase in the Miami and Jacksonville markets. The three newly signed franchise agreements and new corporate locations will bring our total store count to 52, quadrupling our footprint. We are proud of this growth from the Pokemoto brand considering we purchased the company with 13 locations eight months ago. We also inked the Muscle Maker Grill 40-unit restaurant development deal in Saudi Arabia in the same timeframe” said Mike Roper, CEO of Muscle Maker, Inc. “We’ve recently ramped up our internal franchising infrastructure to support our growth strategy and our real estate team has been assigned the task to continue to identify potential corporate locations in key markets to keep the momentum going.”
Pokemoto currently has open locations in six states – Connecticut, Rhode Island, Massachusetts, Georgia, Maryland and Virginia and coming soon to New York, Mississippi and now Florida.
Recently, the company made an announcement that it is bolstering its internal infrastructure by bulking up its franchise sales and training departments along with rolling out its CRM “Customer Relationship Management” program using Franconnect, to support its expansion strategy. Since its acquisition, the company has made numerous announcements emphasizing its growth-oriented vision through franchising and opening new corporate locations. Pokemoto’s low cost of entry, ease of operations, exclusive territory options and multi-unit discounts make the brand an attractive opportunity for prospective franchisees. CONTINUED… Read this full release and get more info for GRIL at: https://musclemakergrill.com/investor-relations/press-releases/
Additional recent developments in the restaurant industry include:
Sweetgreen, Inc. (NYSE: SG) recently announced the pricing of its initial public offering of Class A common stock at the price to the public of $28 per share. Sweetgreen is offering 13,000,000 shares of its Class A common stock. The shares are expected to begin trading on the New York Stock Exchange on November 18, 2021 under the symbol “SG” and the offering is expected to close on November 22, 2021, subject to customary closing conditions.
Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers and as representatives of the underwriters for the proposed offering. Allen & Company LLC and Morgan Stanley are acting as book-running managers. Citigroup Global Markets Inc., Cowen and Company, LLC, Oppenheimer & Co. Inc., RBC Capital Markets, and William Blair are also acting as book-running managers. Amerivet Securities and Blaylock Van LLC are acting as co-managers for the proposed offering.
Bloomin’ Brands, Inc. (NASDAQ: BLMN) will release results for the fiscal fourth quarter and full year 2021 ended December 26, 2021, on Friday, February 18, 2022, at approximately 7:00 AM EST, which will be followed by a conference call to review its financial results at 8:15 AM EST the same day.
The call will be webcast live from the Company’s website at http://www.bloominbrands.com under the Investors section. A replay of this webcast will be available on the Company’s website after the call. Bloomin’ Brands, Inc. is one of the largest casual dining restaurant companies in the world with a portfolio of leading, differentiated restaurant concepts. The Company has four founder-inspired brands: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse and Wine Bar. The Company operates more than 1,450 restaurants in 47 states, Guam and 17 countries, some of which are franchise locations.
Shake Shack Inc. (NYSE: SHAK) recently announced preliminary unaudited results for the fiscal fourth quarter and the fiscal year ended December 29, 2021 ahead of presenting at the 24th Annual ICR Conference.
“We are pleased with the continued recovery we saw in the fourth quarter of 2021, outpacing historical seasonality, with average weekly sales of $74,000 compared to $72,000 in the third quarter of 2021, and Same-Shack sales versus 2019 growth of 2.2% in the fourth quarter, improving from down 7.3% in the third quarter, due to strength in both urban and suburban markets. We opened our first-ever drive-thru locations in Maple Grove, Minnesota and Lee’s Summit, Missouri. Early results for these two Shacks are encouraging, and we look forward to continuing to expand our drive-thru footprint in the years to come,” said Randy Garutti, Shake Shack CEO.
BJ’s Restaurants, Inc. (NASDAQ: BJRI) recently announced that it will release its fourth quarter and fiscal year 2021 results after the market closes on Thursday, February 17, 2022. The Company will host an investor conference call at 2:00 p.m. (Pacific) that same day. The conference call will be broadcast live over the Internet. To listen to the conference call, please visit the “Investors” page of the Company’s website located at http://www.bjsrestaurants.com several minutes prior to the start of the call to register and download any necessary audio software. An archive of the presentation will be available for 30 days following the call.
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