Home » The CEO of Steak & # 039; n Shake supposedly wants to get rid of the cherries on top of the smoothies to save money

The CEO of Steak & # 039; n Shake supposedly wants to get rid of the cherries on top of the smoothies to save money

ARCHIVE: Graham Rahal, driver of # 15 Steak n & # 39; Shake Honda is on the grid during Carb Day for the 101st Indianapolis 500 at the Indianapolis Motorspeedway on May 26, 2017 in Indianapolis, Indiana. (Photo by Chris Graythen / Getty Images)

ARCHIVE: Graham Rahal, driver of the # 15 Steak n 'Shake Honda stands on the grid during Carb Day for the 101st Indianapolis 500 at the Indianapolis Motorspeedway on May 26, 2017 in Indianapolis, Indiana. (Photo by Chris Graythen / Getty Images)

ARCHIVE: Graham Rahal, driver of # 15 Steak n & # 39; Shake Honda is on the grid during Carb Day for the 101st Indianapolis 500 at the Indianapolis Motorspeedway on May 26, 2017 in Indianapolis, Indiana. (Photo by Chris Graythen / Getty Images)

ARCHIVE: Graham Rahal, driver of the # 15 Steak n 'Shake Honda stands on the grid during Carb Day for the 101st Indianapolis 500 at the Indianapolis Motorspeedway on May 26, 2017 in Indianapolis, Indiana. (Photo by Chris Graythen / Getty Images)

INDIANAPOLIS, Ind. – The CEO of Steak & # 39; n Shake supposedly wants to finish off the bright red cherries on top of the firm's signature shakes to reduce costs.

Sardar Biglari, 41, is the founder of Biglari Holdings Inc., which is the parent company of Steak & # 39; n Shake, based in Indianapolis. He held a meeting with investors about his strategy to turn the company of millions into profit losses.

"Sardar Biglari said at one point that Steak & # 39; n Shake spends $ 1 million per year on cherries to make smoothies and that he would love to get rid of that $ 1 million," said a source quoted by the Indianapolis Business Journal. The IBJ verified the comment with another present shareholder.

"Three different shareholders pointed out, in the talks, how ridiculous that feeling is. … Taking into account all (the doubtful expenses), the shareholders pointed out that maybe there is a better way to save $ 1 million instead of eliminating the cherries from the shake of Steak & # 39; n Shake, "said the source. .

Related Post:  Venezuela How to get rid of Nicol├ís Maduro

The iconic restaurant has been making its shakes in the same way since 1934, according to its website.

Continue reading below

Biglari detailed a two-pillar recovery plan in the hope of reversing Steak & # 39; n Shake from being in the red, and that's not cherries. He wants to invest $ 40 million to install new milk shake machines, as well as to convert the company's 400 restaurants into franchises from a single store, IBJ reported.

"He's literally inventing a new milkshake process, he said at the meeting that this will be a patented process that will speed up the service," a shareholder who attended the meeting told IBJ. The shareholder spoke without the approval of his employer.

Steak & n Shake reported an operating loss of almost $ 19 million in the first quarter of this year.

Last year, the chain suffered a sales loss of $ 10.7 million, IBJ reported. Customer traffic counts also fell 13 percent in the last three years.

This story was reported from Los Angeles.

. (tagsToTranslate) steak & # 039; n shake (t) diner (t) milkshake (t) cherries on the top (t) gains (t) losses (t) reduced costs (t) chain of restaurants

Source: http://www.my9nj.com/group-content-team/steak-n-shake-ceo-reportedly-wants-to-get-rid-of-cherries-on-top-of-milkshakes-to-save-money

You May Also Like :
==[Click 2x to CLOSE X]==
Trending Posts!