OT: Hooters

PK Dawg

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Jul 17, 2022
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All these chain, casual restaurants are taking a beating. Margins are zilch because fixed costs are skyrocketing and labor costs are doing the same. This pushes the prices up and people (especially the key demo for these restaurants) have less money to spend due to inflation.

We joke about it, but Texas Roadhouse is the only one that feels like it's still operating at pre-COVID levels. The prices haven't gone up much at all and servings are the same. You can get a 16 oz ribeye, rolls, and 2 sides cheaper than you can get 20 wings at Hooters. I love wings, but I'd rather have the steak.
I'm trekking from the Perdido Key to North Carolina this weekend and will stop at no less than three TRH!
 

PBRME

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Feb 12, 2004
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I got news guys, if you know how to cook, chicken won't dry out on you and it all tastes pretty similar, just different texture and color.
*This reminder brought to you by DALES
Legs, wings, and thighs are more forgiving. A properly cooked split breast can’t be beat.
 
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horshack.sixpack

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Everytime I read about one of these restaurants folding it seems at some point they sold out to private equity. Then the PE strips it for parts and takes their profits. Look at Red Lobster’s story as an example.
I read an article recently about Red Lobster. Chinese company bought them, forced them to stop competing on shrimp providers and only buy from another company that the same Chinese company owned at higher prices than they had been paying. They introduced the unlimited shrimp promotion and it put them out of business; that, along with lots of other short sighted, stupid business moves.
 
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Dawgbite

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They aren’t closing - just rebranding.

They are hiring men now to be more inclusive.

it’s going to be called “NUGGETS”********
I knew a guy that wanted to open a bar/ restaurant like Hooters but aimed for the female and gay men crowd. He was going to call it Coconuts and Bananas. It would have worked in the right town. It never materialized.
 
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aTotal360

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I'm trekking from the Perdido Key to North Carolina this weekend and will stop at no less than three TRH!
my man lol GIF by Steve Harvey TV
 

DesotoCountyDawg

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I read an article recently about Red Lobster. Chinese company bought them, forced them to stop competing on shrimp providers and only buy from another company that the same Chinese company owned at higher prices than they had been paying. They introduced the unlimited shrimp promotion and it put them out of business; that, along with lots of other short sighted, stupid business moves.
They also sold most of their real estate (buildings) and then turned around and re-leased them with burdensome lease agreements. The whole fiasco is like a book on how not to run a restaurant franchise.
 

Mobile Bay

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Jul 26, 2020
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My towns hooters is great. It's always busy. Sometimes it's about the management and available talent you have for waitresses. The last time I went to the one in Jackson ages ago was scary.
The one they closed in Birmingham was where aged out strippers went to die. It was also scary as hell because the last time I was in there we had the lead against Alabama and I was wearing a State shirt.
 

patdog

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They also sold most of their real estate (buildings) and then turned around and re-leased them with burdensome lease agreements. The whole fiasco is like a book on how not to run a restaurant franchise.
Or a book on how to steal all the assets from a company before abandoning it to Chapter 7 and leaving the creditors and minority owners with huge losses.
 

She Mate Me

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It’s the most flavorful part of the chicken without having to do anything to it and it’s very juicy and tender.

I'll just say that thigh meat is more divisive than those who love it seem to believe. I like it and when prepared really well it's delicious.

But there are times when thigh meat has an off flavor I just don't find palatable. And it's not that the meat is bad, because others eating the same meat think it tastes great. I'd much rather have breast meat that's seasoned and not overcooked on those occasions.
 

PooPopsBaldHead

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Or a book on how to steal all the assets from a company before abandoning it to Chapter 7 and leaving the creditors and minority owners with huge losses.
I worked for a very profitable division of a fortune 100 company when the market crashed in 2008-9. The company started selling off assets and my division was sold at a premium to private equity in 2010. The day the deal was announced I quit without notice and applied for a job with a different division (one losing money at the time) with the original company.

Everyone thought I was stupid. Within a week all of my former counterparts were forced to sign non competes and then a month later they took 10% pay cuts. By 2020 3 different private equity companies had bought and sold this thing and they were in default on all of their loans getting ready to go belly up when PPP saved the day. They filed chapter 7 and are nearly going belly up again. The CEO (3rd or 4th since 2010) was just canned and nobody I know is still there. My last friend was still holding on until a few months ago. He was loyal to a fault and tried to gauge my interest in coming back... Pay was going to be less than I made when I quit in 2010.

TLDR: If private equity ever buys your employer, jump out a side window and don't even tell anyone you quit until your off the company property. If you don't, your job/happiness/company is 17ed.
 

patdog

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May 28, 2007
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I worked for a very profitable division of a fortune 100 company when the market crashed in 2008-9. The company started selling off assets and my division was sold at a premium to private equity in 2010. The day the deal was announced I quit without notice and applied for a job with a different division (one losing money at the time) with the original company.

Everyone thought I was stupid. Within a week all of my former counterparts were forced to sign non competes and then a month later they took 10% pay cuts. By 2020 3 different private equity companies had bought and sold this thing and they were in default on all of their loans getting ready to go belly up when PPP saved the day. They filed chapter 7 and are nearly going belly up again. The CEO (3rd or 4th since 2010) was just canned and nobody I know is still there. My last friend was still holding on until a few months ago. He was loyal to a fault and tried to gauge my interest in coming back... Pay was going to be less than I made when I quit in 2010.

TLDR: If private equity ever buys your employer, jump out a side window and don't even tell anyone you quit until your off the company property. If you don't, your job/happiness/company is 17ed.
You were definitely the smart one. What those private equity companies do should be illegal.
 

OG Goat Holder

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Sep 30, 2022
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These restaurant closings show how the whole deal with them is all about money, and how high things are marked up. I love eating out as much as anyone, but if you are trying to fight inflation, seems to me like the #1 thing to do is to stay out of restaurants. Value-wise, the biggest waste of money I can think of. Plus - it makes you fat (no restaurant food is healthy - the whole purpose is for it to taste good).
 

dawgman42

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Jul 24, 2007
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Totally agree, if the breast was the only piece of meat on a chicken I just wouldn't eat chicken. I can't do that dry azz flavorless white meat. It tastes like somebody wet some toilet paper, shredded it and pressed it back together.
 

Dawgbite

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Nov 1, 2011
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I actually Like Hooters wings. They’re probably my favorite of all the wing places. My wife has better boobs than 95% of Hooters waitresses and I occasionally get to touch them so that never was a draw. It was fun to take her to Hooters because she could critique a pair of knockers like nobody’s business. I always agreed that hers were the best in the place.
 

ckDOG

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Dec 11, 2007
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I actually Like Hooters wings. They’re probably my favorite of all the wing places. My wife has better boobs than 95% of Hooters waitresses and I occasionally get to touch them so that never was a draw. It was fun to take her to Hooters because she could critique a pair of knockers like nobody’s business. I always agreed that hers were the best in the place.
You've teed this up.

Pics?
 

BulldogBlitz

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Dec 11, 2008
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I actually Like Hooters wings. They’re probably my favorite of all the wing places. My wife has better boobs than 95% of Hooters waitresses and I occasionally get to touch them so that never was a draw. It was fun to take her to Hooters because she could critique a pair of knockers like nobody’s business. I always agreed that hers were the best in the place.
Well....your pics didn't load.
 

johnson86-1

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Aug 22, 2012
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I love the post. They can post anything and their readers run with it.

Anyhow, sales increased. Feel free to make your own conclusions by reading the earnings call transcript:

I don't know that reading an earnings call transcript is going to give you the real story if you don't have enough background to read between the lines.

"For the third quarter, we delivered adjusted earnings per share of $0.63, reflecting significant challenges in the U.S. Retail Pharmacy business stemming from a worse than expected consumer environment and challenging pharmacy industry trends, partially offset by strength in U.S. healthcare and international."

That could be inflation and a consumer that is running out of gas. Could also mean "we suck at retail right now but it's better to blame the amorphous 'consumer environment'".

But there is also:

"In U.S. Retail Pharmacy, we witnessed continued pressure on the U.S. consumer."

" We expect the operating environment to remain challenging. We do not expect an improvement in the U.S. retail environment."

"Turning next to our U.S. retail business, comparable retail sales declined 2.3% in the quarter. As Tim mentioned, the consumer backdrop remains a challenge. With this continued channel shift and a sustained pullback in discretionary spending..."

Those are all comments consistent with inflation sucking the wind out of consumers and I'm sure there are more, although you'd need somebody that pays more attention to Walgreens to say for sure.

One thing that is barely mentioned at all as far as I can tell is shoplifting. The only statement I can find is:

"While we're seeing early signs of customers responding to our actions, retail gross margin declined more than previously anticipated due to our price and promo investments this year lapping last year's margin recovery actions as well as higher levels of shrink."

I suspect that is a pretty big issue for them at some of their locations right now yet they aren't going to give details on that in an earnings call. Just too touchy. It does talk about roughly 25% of their stores being deadweight right now. Certainly lots of those are probably too close to other locations without enough population to justify it. But I suspect a good number of those stores are also in jurisdictions where shoplifting is no longer adequately prosecuted. But again, you'd need somebody that pays more attention to Walgreens to really know how to interpret those statements and also to know what information they are leaving out.
 

Maroon13

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Sep 29, 2022
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When y'all come back for the Liberty bowl. Horn lake hooters made the cut. I'll give the talent a 6ish but....... I tell my wife that I really do like the wings and the service is good. But she don't believe me.
 

PBRME

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Feb 12, 2004
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When y'all come back for the Liberty bowl. Horn lake hooters made the cut. I'll give the talent a 6ish but....... I tell my wife that I really do like the wings and the service is good. But she don't believe me.
Used to go to Horn Lake all the time. My go to was the appetizer with wings, shrimp, and tenders all breaded and hot with a side of fries and cheese sauce. A lot of people trash their wings, but I really like them.
 
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