Bonefish Grill the Sixth Fastest Growing Chain
Bonefish Grill was the sixth fastest growing restaurant chain in 2007, according to foodservice consulting agency Technomic of Chicago.
The Tampa, Fla., seafood chain's sales increased 24 percent in 2007 to $406 million. The company operates more than 120 restaurants in 30 states.
However, the 500 largest U.S. restaurant chains registered slower growth rates, posting 5.1 percent annual sales growth last year versus 6.1 percent in 2006. According to Technomic's annual Top 500 report, sales for the top 500 chains rose $10.7 billion in 2007 to $223.6 billion.
"The U.S. economy continued to struggle against rising fuel prices, increasing cost of labor and commodities and menu price increases," said Ron Paul, president of Technomic. "Current economic conditions have caused many chains to scale back their U.S. unit expansion with unit growth rates for 2007 of 2.4 percent compared with 3.8 percent a year ago."
The seafood category posted better-than-average results with sales growth of 5.3 percent. Steak (4.1 percent) and family-style restaurants (2.2 percent) showed only modest growth.
The 10 fastest-growing restaurant chains with sales exceeding $200 million:
1. Qdoba Mexican Grill, $380 million, up 43 percent 2. Jimmy John's Gourmet Sandwich Shop, $348 million, up 33 percent 3. BJ's Restaurant & Brewery, $319 million, up 32 percent 4. Chipotle Mexican Grill, $1.05 billion, up 26 percent 5. Flemingâ??s Prime Steakhouse & Wine Bar, $250 million, up 25 percent 6. Bonefish Grill, $406 million, up 24 percent 7. Moe's Southwest Grill, $336 million, up 23 percent 8. Starbucks, $8.55 billion, up 22 percent 9. Caribou Coffee, $301 million, up 21 percent 10. Zaxby's, $563 million, up 21 percent
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