Weekly Global News Wrap: KFC, Pizza Hut pull out from Russia; Fox wants Pret a Manger in Israel; Domino’s Pizza names new CFO
Here is a summary of the most interesting QSR news stories of the week from around the world.
KFC and Pizza Hut are moving out from Russia amidst the Ukraine-Russia unrest. Yum! Brands declared that it is nearly complete in removing some of the franchise rights of KFC locations to a local Russian firm. Read more from Yahoo Finance.
Fox-Wizel Group, an Israeli retail chain, is looking to bring the UK food franchise, Pret a Manger to Israel. The firm told Tel Aviv Stock Exchange and said negotiations have not been previously reported due to Pret a Manger’s request. Read more from Globes.
Domino’s Pizza tapped Edward Jamieson, a former regional finance director for Just Eat, as its new finance chief. Jamieson will start his post in October 2022. Read more from Reuters.
Greggs made a deal with Ascona, one of the UK’s forecourt firms, to expand its portfolio. Ascona wants to set up at least 30 Greggs stores. Read more from Business Live.
Pret a Manger recovered from heavy losses in the COVID-19 crisis after its profit improved in March. The coffee store said its sales returned to 2019 levels. Read more from This is Money.