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Home/Banking News/A Massive Food Chain Now Makes Unexpected Closures in California
Market News Today - A Massive Food Chain Now Makes Unexpected Closures in California

A Massive Food Chain Now Makes Unexpected Closures in California

By Frank Nez
March 14, 2024
2

A massive food chain now makes unexpected closures in California amid safety fears due to a surge in crime, sources report.

This week, Taco Bell “indefinitely” closed its dining-in option at four of its five locations in Oakland, California, forcing customers to go through the drive-thru only, reports The-Sun.

The fifth location, which is combined with a KFC restaurant, appears to be closed altogether, as it is listed as closed on the Taco chain’s website.

Following in the footsteps of the chain, Church’s Texas Chicken confirmed to SFGate that it has also shuttered its dining room.

While the chicken chain did not issue a reason for the closure, it is believed that it is due to the rampant crime in the San Francisco Bay Area.

Two Taco Bell employees told the news outlet that one location closed its dining room two months ago, and another closed theirs a year and a half ago after customer complaints.

One of the impacted Taco Bell locations is near an In-N-Out that has announced its permanent closure scheduled for March 24, due to “ongoing issues with crime.”

“Despite taking repeated steps to create safer conditions, our Customers and Associates are regularly victimized by car break-ins, property damage, theft, and armed robberies,” In-N-Out COO Denny Warnick wrote in a statement.

“They just pull up out of nowhere and it’s not like they only rob the store,” Kimberly Garibay, a Metro Wireless worker who works across the street from one of the affected Taco Bell locations, told CBS affiliate KPIX-TV.

“They rob everybody in there as well. It’s not as safe as it used to be.

“There’s a lot of crime now.”

“Providing a safe environment for team members and customers is the priority at Taco Bell restaurants,” a statement issued to SFGate by the taco chain states.

“The franchise owner and operator has informed us that they are consistently evaluating and working to ensure a safe environment by implementing procedures, such as closing dining rooms, and hiring security guards, and they have taken extra measures to meet with local law enforcement.”

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Also Read: A Massive Grocery Store Will Now Close All Locations

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Market News Today - A Massive Food Chain Now Makes Unexpected Closures in California.
Market News Today – A Massive Food Chain Now Makes Unexpected Closures in California.

A massive shoe retailer is now closing a quarter of stores following a drop of 15% in sales last year, sources confirm.

Alongside a nearly 15% revenue drop for 2023, popular shoe retailer Allbirds on Tuesday named a new CEO, replacing co-founder Joey Zwillinger.

Joe Vernachio, who has been Allbirds’ chief operating officer since 2021, will now take over the top post and join the board of directors on Friday.

Zwillinger will stay on as a board member and a special adviser to the company, according to a company press release.

Allbirds co-founder Tim Brown stepped down from the co-CEO role last year and now serves as the brand’s chief innovation officer.

At the same time, Allbirds reported earnings, with revenue for Q4 and the full year both down by about 15%.

Fourth-quarter revenue was $72 million, while full-year revenue was $254 million.

The company’s current plan to close 10 to 15 stores — about 17% to 25% of its 60-store fleet — will cost its U.S. business about $7 million to $9 million, reports Retail Dive.

“Stores remain a highly effective way to meet new customers and drive omnichannel purchasing and omnichannel purchasing is the most profitable consumer journey we can generate,” Zwillinger said.

“As we focus on renewing brand momentum and driving sustained growth in the U.S., we are leaning into our most efficient stores in key cities where we want to win.”

International revenue will also be hit with $25 million to $28 million in costs as Allbirds moves from a straight DTC model to a distributor model.

Zwillinger on a call with analysts said the distributor model is a “more profitable” go-to-market strategy and is allowing Allbirds to consider entering more international markets going forward.

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Market News Today - A Massive Food Chain Now Makes Unexpected Closures in California.
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Frank Nez

Frank Nez is an American entrepreneur, journalist, writer, and investor. Frank's work has been cited by SEC and Congressional reports. Franknez.com is a personal finance and market news blog, dedicated to publishing content on money, investing, entrepreneurship, and retail investor news.

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Market News Today - Massive Grocery Store Is Now Being Evicted From Major Location
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Massive Grocery Store Is Now Being Evicted From Major Location

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A Famous Restaurant Is Now Hit With An Eviction Notice

2 Comments
  1. Frank Nez says:
    March 14, 2024 at 6:18 pm

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  2. Frank Nez says:
    March 14, 2024 at 6:18 pm

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