Math = Extracting value from the franchise(s) to kill them slowly as compared to creating value for long term profitability? Yup, sounds like CEO math to me!
Red Lobster’s problem wasn’t endless shrimp. It’s because it was bought by Private Equity. John Oliver had a segment on it and here’s a story from NBC News on it: https://youtu.be/vjVTVvEytv8?si=EtECoO8icER5Q_lW
it was the parent company that used Red Lobster as a dumping ground for their product and destroyed Red Lobster's painstakingly built sourcing network for seafood, plus the usual private equity dogshit
That shit was the Moviepass of restaurant promos from the beginning and we all knew it. I have no idea how anyone at that company thought that would work.
I’ve been eating my endless shrimp for almost 8 months now. I’m grandfathered in and just never left the table. By law, and by the definition of endless, they must continue to serve me.
Red Lobster CEO: “You think the shrimp are infinite. They are not. There is a finite amount of shrimp. Open your eyes to the truth you’ve blinded yourself to!!!!”
As an MBA + MSML student, I can honestly say that this is what we need in business rn, tho. I wholeheartedly support this bc it's bleak as hell out here. Lmao
I went there once. The food was mediocre, at best, the prices high, the service pedestrian, and the physical plant both unappealing and unclean. Never again. #neveragain
Also now that all of those Red Lobster restaurants have to pay rent instead of owning their locations outright, it's a bit harder for them to turn a profit.
Ppl are taking this too seriously lol I think he was being funny. Also, he acknowledges in the article that the shrimp wasn’t the only or main cause and the article mentions the private equity stuff (read it, maybe).
I wonder if it’s an us thing. Did most Black ppl see the humour?
Circa 2019-2020, Red Lobster sold catering-size orders of cooked Maine lobsters for a ridiculously cheap price — cheaper than the on-sale raw frozen Maine lobsters in 4-packs at Giant — & I wasn’t at all surprised when that went away, too. I didn’t get any add-ons, they lost $ for nothing.
Makes sense, but if you’re going to take away the thing people went there for you have to come up with a new thing thing to make people go. If not quantity then maybe quality.
I believe that’s what the new CEO stated, he talked about decreasing the menu items but upping the quality and making investments in infrastructure and technology. Here’s the interview with CNN https://youtu.be/gol-vdLscKg?si=Qp84AEotIhUFqBER
Comments
Darden destroyed whatever goodwill they possessed
I learned that I didn't really need the biscuits after all
Eat local and support your community.... Avoid the chains whenever you can
it was the parent company that used Red Lobster as a dumping ground for their product and destroyed Red Lobster's painstakingly built sourcing network for seafood, plus the usual private equity dogshit
🍤🍤🍤
We were making a k!lling!
#blacksky
It’s a lot more of a valid tradeoff than the headline would lead you to believe.
I wonder if it’s an us thing. Did most Black ppl see the humour?
Gotta turn a failing business around.
Endless Shrimp didn't kill Red Lobster, rich worthless fucks did. Private Equity wrecks everything.
Also, I can't with them using the Shirley Caesar themed jingle in the new commercials.
A real businessman who doesn't f* around.