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

Store wars: Which chains are growing (and shrinking)

8/19/23 7:00PM

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.

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Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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