Hooters Closes 40 Restaurants Across the U.S.

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HAWK TUA…WOOPS I MEANT TO SAY HOOTERS

Hooters Closes 40 Restaurants Across the U.S. (Read More)

Hooters Closures: Hooters faces challenges with closure of 40 locations amidst industry pressures.

Operating Environment: High costs, discerning consumers lead to closures across U.S.

• Economic Pressures: Market conditions force closure of underperforming stores.

• Impact Statement: Staff well-being prioritized in these instances.

Company Statistics: Hooters' decline in locations compared to category growth.

• 2023 Performance: Finished with 293 restaurants, a -1.3% change.

• Long-Term Decline: From 333 locations in 2018 to present total.

Industry Trends: Retrenchment amidst closures affecting chain landscape.

• Market Dynamics: Competitors' growth in contrast to Hooters' decline.

• Retrenchment List: Red Lobster, Rubio's among chains scaling back.

• Technomic Data: 17 chains with double-digit unit retrenchment in 2023.

List of other 17 chains closing restaurants

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