• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
RetailBob Evans

Bob Evans to Close 27 Underperforming Restaurants

By
John Kell
John Kell
Contributing Writer and author of CIO Intelligence
Down Arrow Button Icon
By
John Kell
John Kell
Contributing Writer and author of CIO Intelligence
Down Arrow Button Icon
April 25, 2016, 11:37 AM ET
Michael Houghton — Bob Evans Farms
Add Fortune on Google for similar content.

Bob Evans Farms is moving to close 27 underperforming restaurants, a move that comes after the casual dining chain reported a weaker profit for 2015.

A bulk of the Bob Evans Restaurants being shuttered, 21 in total, are owned by the company and closed over the weekend. The remaining six locations are leased and will be closed throughout fiscal 2017. Bob Evans (BOBE) said it estimated it will incur $7.5 million to $8 million in expenses related to the charges, though it also anticipates to generate about $20 million in proceeds from the sale of the owned properties.

President and CEO Saed Mohseni said the performance at the restaurants that are closing “was not meeting expectations.” The company intends to offer positions to employees at nearby locations when possible. If relocation isn’t an option, Bob Evans will pay laid off staff severance benefits.

The restaurant closures only affect a slim number of stores that Bob Evans operates. The chain, which operates in 19 states primarily in the Midwest, mid-Atlantic and Southeast, operates 548 restaurants. Unlike many casual dining restaurant concepts, Bob Evans also has a fairly large food products segment–though a bulk of revenue still comes from the restaurants.

The closures come at a time when casual dining chains like Bob Evans find themselves challenged by the faster growing fast-casual segment. As traffic migrates to those concepts, which serve fare that is a step up from the fast-food industry but without table service, it can hurt demand at chains like Bob Evans.

Lately, Bob Evans has still managed to report fairly slim sales gains. Most recently, annual sales increased to $1.35 billion last year from $1.33 billion. But profitability has been a greater challenge. Fiscal 2015 net income slipped to $16.6 million in 2015 from $33.7 million the year earlier.

About the Author
By John KellContributing Writer and author of CIO Intelligence

John Kell is a contributing writer for Fortune and author of Fortune’s CIO Intelligence newsletter.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

Fortune 500 Power Moves: Which executives gained and lost power this week
C-SuiteFortune 500 Power Moves
Fortune 500 Power Moves: Which executives gained and lost power this week
By Fortune EditorsJune 26, 2026
58 minutes ago
Marketing leaders speak at Fortune's Fuel Up event in Cannes. (L-R) Natalia Ball, Mars Pet Nutrition; Zena Arnold, Sephora; Tati Lindenberg, Unilever; Laura Jones, Instacart; Ruth Umoh, Fortune
RetailCMO
The new CMO playbook: how marketers are balancing broader remits and tighter budgets
By Sam BirchallJune 26, 2026
3 hours ago
AI is overwhelming our senses—Edward Enninful has an answer for that 
EuropeLetter from London
AI is overwhelming our senses—Edward Enninful has an answer for that 
By Kamal AhmedJune 26, 2026
6 hours ago
kid
SuccessSocial Media
Kids want to be influencers when they grow up, because they ‘gets lots of money’ and ‘they want to be famous’
By Matthew Simoneau and The ConversationJune 26, 2026
6 hours ago
g
AIunemployment
One of the Democratic Party’s brightest stars is co-founding a group to help with the coming AI jobs earthquake
By Josh Boak and The Associated PressJune 25, 2026
16 hours ago
apes
HealthAnimals
Scientists tickled monkeys to find if they have the same giggles as humans — and they do
By Adithi Ramakrishnan and The Associated PressJune 25, 2026
16 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
1 day ago
Current price of oil as of June 25, 2026
Personal Finance
Current price of oil as of June 25, 2026
By Joseph HostetlerJune 25, 2026
1 day ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
7 hours ago
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
Economy
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
18 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.