The burger chain in November announced that it recorded a 3 percent increase in same-store sales in the third quarter. It was the 27th quarter in a row in which same-store sales rose compared with the same period a year earlier—a stunning run of success in the topsy-turvy world of restaurants.
Sardar Biglari, CEO of the investment company that owns Indianapolis-based Steak n Shake, is expected to become editor-in-chief of Maxim, according to a report by Politco, taking control after a high-profile effort to revamp the magazine proved unsuccessful.
The Indianapolis-based restaurant chain will be the primary sponsor of Rahal's Honda at five IndyCar Series events, including two races at Indianapolis Motor Speedway.
Sardar Biglari was able to use shareholder money to boost his voting power to nearly 50 percent.
Sardar Biglari fielded questions from shareholders until they ran out of things to ask. He talked about the smallest details of the company’s businesses, from the way Steak n Shake makes its milkshakes to the number of ad pages its men’s magazine, Maxim, sells.
The parent of Steak n Shake has disclosed the vote tally from the April 9 annual meeting, where all six incumbents won re-election.
Sardar Biglari conceded nothing after beating back a campaign to oust him and the five other directors of Biglari Holdings Inc., which owns Steak n Shake.
A Minnesota-based investment group that for months has been waging a campaign to oust Sardar Biglari from atop Steak n Shake’s parent company weathered a resounding defeat Thursday afternoon.
Groveland Capital, which wants to oust Sardar Biglari, failed to get support from the influential advisory firm Institutional Shareholder Services. But ISS agreed Biglari Holdings has serious governance problems.
Steak n Shake's parent company quotes longtime director Ruth Person as calling the period before Sardar Biglari took the helm "the scariest of times." But the CEO back then said the burger chain was on solid financial footing.
Biglari Holdings Inc. has won a major legal victory as a separate fight with a dissident shareholder turns personal.
Groveland Capital, which owns shares in Steak n Shake parent Biglari Holdings Inc., says it is offering to withdraw its slate of directors if Biglari’s board adopts the governance demands it has submitted.
Minneapolis-based Groveland Capital LLC has filed notice that it will seek to replace Sardar Biglari and Biglari Holdings Inc.’s other five directors with its own nominees at the company’s annual meeting.
The Indianapolis-based burger chain’s smaller annual profit resulted from an ongoing effort to increase the company’s number of franchised restaurants, with plans to open units as far away as the Middle East.
It's not clear whether the settlement Steak n Shake has reached with St. Louis-based Druco Restaurants will give the franchisee more leeway on pricing.
The Humane Society has set its sights on Biglari Holdings, the firm that owns Indianapolis-based Steak n Shake, saying it has ignored requests to adopt animal welfare methods like its competitors.
Officials of the 80-year-old chain believe selling steakburgers in groceries will further extend the Steak n Shake brand.
The Indianapolis-based burger chain won approval in late March from the U.S. Patent and Trademark Office to trademark the “organic signature steakburger.
Terms of the deal with Biglari Holdings Inc. were not released. The company, headed by CEO Sardar Biglari, says Maxim will continue under its current management team and stay based in New York.
Under the 20-year deal, Sardar Biglari won’t receive royalties if he remains atop the company. But if he were forced out of for anything but malfeasance, or if it were sold, he’d receive 2.5 percent of sales for five years—a sum that could surpass $100 million.
