Restaurant chains bet on better food to win back diners

Data from Black Box Intelligence show consumers have been dining out less often and becoming pickier about where they eat over the past two years. During that period, “value” became a frequent theme in restaurant executives’ discussions with analysts and investors, with executives saying it means more than menu prices alone.

Now, CEOs are turning to corporate chefs to sharpen the taste and quality of their offerings. Discounts and one-time promotions can draw traffic temporarily, but restaurants’ products remain important to long-term growth and franchisee profitability, the article says. Executives from chains including Wendy’s and Chipotle Mexican Grill have highlighted recent or planned menu improvements on quarterly earnings calls.

Chipotle CEO Scott Boatwright told analysts in late October that the company’s product had “improved and even better,” referring to its brisket. The meat returned to menus for a limited time on Thursday.