Companies offering munchies, technology-based solutions big winners so far during COVID-19 pandemic

“Our singular focus for the second quarter was to support our restaurant partners as much as possible in their time of need. With a little help from increased demand, we are proud to announce we were able to spend approximately $100 million supporting and keeping restaurants, drivers and diners safe during these difficult times,” said Matt Maloney, Grubhub’s founder and CEO.

• Domino’s was another company that benefited from increased consumer demands during the pandemic, with second quarter 2020 net income of $118.7 million, compared to $92.4 million the year before.

“Our focus as a global brand and the commitment of our local operators remains steadfast on serving our customers and our communities with a convenient, affordable and safe food and service experience,” said Ritch Allison, Domino’s CEO.

• Papa John’s posted a net income of $26.9 million for the second quarter of 2020, compared with about $8.4 million the year before.

“Our strong momentum has enabled us to hire over 20,000 new restaurant team members during the second quarter and target hiring another 10,000 positions in the third, helping support those impacted by unprecedented levels of unemployment,” said CEO Rob Lynch. “These efforts position Papa John’s solidly to continue meeting the needs of our customers who face continued challenges from COVID-19, and to drive long-term sustainable loyalty to our brand long after the current pandemic.”

Index losers

• Dillard’s reported a net loss for a 26 week period that ended Aug. 1 of $170.5 million, compared to a net income of $37.9 million for the same time frame in 2019.

• Marriott Vacations Worldwide posted a net loss of $70 million in the second quarter of 2020, compared to a net income of $49 million the same time a year ago.

(Story continued below…)

Source link


More Posts