Plant-basedhas never been more popular.
Another nationally representative poll reports over10%of American adults (18+) now forgo meat entirely.
Anotherpollfound close to two in three people (64%) would even choose steak as their final meal!
Ruth’s Chris Steak House / Facebook
Indeed, Americans have always had a special relationship with steak, and of course, the steakhouse.
andKeens(est.
in NYC, remain open today.
Meaghan Cameron / Eat This, Not That!
Here are five of the fastest-growing steakhouse chains in America.
Last year, the chain generated $4 billion in sales for the first time ever.
“It was only five years ago when we exceeded $2 billion in revenue.
Photo: Courtesy of Fogo De Chao
“Despite inflationary pressures, our strong topline results helped us achieve significant growth.”
“So, we are expanding a little bit.
For a company our size and what we want to accomplish, we have to try some new things.
Courtesy of Outback Steakhouse
“We’re just Fogo de Chao.
We’re not a churrascaria.We’re not a steakhouse.
We are a whole different occasion than a fine-dining steakhouse.
Ruth’s Chris Steak House / Facebook
We’re just unique in the space.”
“We know long term we can have 600 restaurants in America,” McGowan added.
Internationally, the chain just announced plans to enter bothEcuadorandTurkeyfor the first time ever.
STK Steakhouse / Facebook
The success of off-premises business during the pandemic convinced Outback’s decision-makers that delivery isn’t going anywhere.
“The consumer isn’t going back to how they behaved a few years ago,” Patterson added.
So, last year Outback announced it will be reducing the size of new-build restaurants by roughly 17%.
There are already justunder700 domestic Outback locations currently open for business.
All in all, 2022 saw over $860 million in systemwide sales.
Now, however, Ruth’s Chris is set to have a new owner.
The deal is valued at $715 million.
Prior to the announcement of the acquisition, Ruth’s Chris had been continuing to prioritize expansion.
The chain just opened its third location inVirginiaand is exploring adding to its presence inAsia.
