Steak n Shake seeks younger customers
Steak n Shake hopes to create buzz with its new marketing plan targeting youth.
Steak n Shake
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Steak n Shake CEO ordering up cost cuts, but shares still sag
The Steak n Shake Co. has dropped plans to build 20 new restaurants, is cutting overhead expenses by about $20 million,
and closed 14 locations. The Indianapolis-based restaurant chain found $16 million in tax savings dating
back to 2006 and is working on a new, simple menu built around burgers, fries and milkshakes–all part of
a turnaround plan orchestrated by the chain’s new CEO, Sardar Biglari.
Texas investor enlists former Steak n Shake exec in quest to revive chain
Two executives with longtime ties to The Steak n Shake Co. have joined a dissident Texas investor in his quest to overhaul
the Indianapolis-based restaurant chain. Shareholders who have agreed to work with Sardar Biglari include a former board member
the company once described as a “modern-day founder” of the restaurant chain, along with a former partner in Kelley & Partners
Ltd., the investment firm led by company patriarch E.W. Kelley before his 2003 death.
Staying earns Steak n Shake state, city rewards
Local governments plan to throw Steak n Shake Co. a life raft of incentives worth about $275,000 to help the struggling chain
keep its headquarters in Indianapolis. The company has quietly agreed to retain about 180 employees here in exchange for a
$200,000 state training grant and a five-year personal property tax abatement worth about $75,000.
Texas investor wins over Steak n Shake shareholders, aims for chairmanship
Texas investor Sardar Biglari rode a wave of shareholder anger to a landslide victory in his quest for Steak n Shake Co. board
seats. Now, the dissident 30-year-old investor who models his approach after Warren Buffett’s is hoping to deliver on his
promise to turn around the Indianapolis-based chain, with or without the chairmanship he covets.
Steak n Shake expects ‘rebuilding year’
Steak n Shake Co. CEO Peter M. Dunn analyzed and measured just about everything at the restaurant chain, from drive-through
times to employee turnover. All that research and testing was welcome when the company was thriving a few years ago. But the
lack of evidence that all the analysis was paying off eroded Wall Street’s confidence in Dunn.
Steak n Shake trying out lighter menu options
But as more people seek out healthier food and become conscious of high fat and calorie counts in Steak n Shake’s staples,
some are staying away or not visiting as often. To fight back, the chain is working on a barrage of healthier menu options,
including yogurt shakes, chicken sandwiches and new salads. Perhaps a variation on the slogan that started it all in Normal,
Ill., in 1934 is in order: “In Sight It Must Be Light.” The first leaner…