Viral social media posts have circulated claiming Chili’s is shutting down all its locations, but the company said this is false, and said it’s actually grown in popularity as it uses consumer sentiment about the rising costs of fast food to compete.
Chili’s told Forbes the social conversations about its closing “include misinformation and mischaracterizations about the state of our business,” adding the company is actually “growing in popularity throughout the country.” Although Chili’s has closed fewer than 20 locations since 2023, there are still over 1,500 locations still open and the company didn’t indicate plans to close anymore stores, though it said it sometimes “ a tough decision” to close a store, but it’s not “a negative indicator of brand health.”with over 500,000 views jokingly said Chili’s “was giving out an appetizer, an entree, a side, a 3.
Chili’s reported a 3.5% growth in sales during the third quarter of 2024 compared to the third quarter of 2023 due to an increase in prices and a spike in dine-in traffic, according to Chili’sof revenue in its first quarter of 2024. In comparison, Dine Brands Global, the parent company of Applebee’s, IHOP and Fuzzy’s Taco Shop, reported athis year, including Mcdonald’s, Burger King parent Restaurant Brands International and Wendy’s.
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Source: Forbes - 🏆 394. / 53 Read more »