Two major restaurant operators saw their revenue surge last month, bolstered by seasonal demand as the summer school vacation started.
Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), which operates three restaurant chains with more than 50 outlets across the nation, posted NT$209.99 million (US$6.97 million) in consolidated sales last month, a jump of 9.78 percent from May, the company said in a statement on Monday.
Last month’s revenue rose 31.48 percent from the same period last year, company data showed.
“With the arrival of summer, the spicy food offered by the company’s restaurants attracted more people,” the company said in the statement.
Last month marked the beginning of the summer break for some students, which boosted customer traffic, the company added.
TTFB remained upbeat about prospects in the second half of the year, as the company is scheduled to launch its fourth restaurant brand in the third quarter, which may fuel sales growth.
The summer vacation and upcoming holidays in the fourth quarter may also be important drivers for TTFB, it said.
The company posted NT$1.1 billion in consolidated sales for the first half of the year, up 16.31 percent from a year earlier. Revenue in the April-to-June period was up 4.1 percent from three months earlier, company data showed.
Wowprime Corp (王品集團), which owns 13 restaurant chains with more than 270 outlets in Taiwan and China, also expects the launch of its new teppanyaki brand in Taiwan to drive up sales in the third quarter.
The “Hot 7” brand will be launched later this month, offering “fair-priced fare,” with an average consumer expenditure of about NT$300.
The company posted consolidated revenue of NT$1.27 billion last month, up 26.92 percent from a year earlier and 2.64 percent from a month earlier, Wowprime said in its stock exchange filing.
For the first six months of the year, consolidated sales totaled NT$7.04 billion, up 20.54 percent from a year earlier, company data showed.
ISSUES: Gogoro has been struggling with ballooning losses and was recently embroiled in alleged subsidy fraud, using Chinese-made components instead of locally made parts Gogoro Inc (睿能創意), the nation’s biggest electric scooter maker, yesterday said that its chairman and CEO Horace Luke (陸學森) has resigned amid chronic losses and probes into the company’s alleged involvement in subsidy fraud. The board of directors nominated Reuntex Group (潤泰集團) general counsel Tamon Tseng (曾夢達) as the company’s new chairman, Gogoro said in a statement. Ruentex is Gogoro’s biggest stakeholder. Gogoro Taiwan general manager Henry Chiang (姜家煒) is to serve as acting CEO during the interim period, the statement said. Luke’s departure came as a bombshell yesterday. As a company founder, he has played a key role in pushing for the
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
CROSS-STRAIT TENSIONS: The US company could switch orders from TSMC to alternative suppliers, but that would lower chip quality, CEO Jensen Huang said Nvidia Corp CEO Jensen Huang (黃仁勳), whose products have become the hottest commodity in the technology world, on Wednesday said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience at a Goldman Sachs Group Inc technology conference in San Francisco. “We probably have more emotional customers today. Deservedly so. It’s tense. We’re trying to do the best we can.” Huang’s company is experiencing strong demand for its latest generation of chips, called
GLOBAL ECONOMY: Policymakers have a choice of a small 25 basis-point cut or a bold cut of 50 basis points, which would help the labor market, but might reignite inflation The US Federal Reserve is gearing up to announce its first interest rate cut in more than four years on Wednesday, with policymakers expected to debate how big a move to make less than two months before the US presidential election. Senior officials at the US central bank including Fed Chairman Jerome Powell have in recent weeks indicated that a rate cut is coming this month, as inflation eases toward the bank’s long-term target of two percent, and the labor market continues to cool. The Fed, which has a dual mandate from the US Congress to act independently to ensure