Quick's Contract Of Values

Submitted By gracehamm
Words: 2630
Pages: 11
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Mary Catherine Joiner
Professor McQuaid
MKT-B330-051
26 February 2013
Project #2
OBJECTIVE 1

I. Overview of Quick
1st European fast food chain
The third fast food hamburger restaurant in Europe
208 million consumers in 2011
19,000 employees of 56 nationalities
Outlets in 7 countries and territories
492 restaurants including 80% operating as franchises
14 openings in 2011 all territories told
982 million euros in volume of sales to the brand 2011

II. Corporate Review
i. Under Quick's “Contract of Values”, the company expresses both the ethos behind their actions and the way in which they carry out their work. Quick says that audacity, sincerity, enthusiasm, and community are the main values that they work to keep within their company. We embrace these values, they serve as a guide, and they are clearly evident in every commitment we undertake today. Quick is committed to choosing a partner that will assist in their effort towards improving nutrition, reducing their footprint, contributing to progress, and supporting employees and fostering their career growth. ii. Quick’s ambitions include becoming the preferred fast-food destination for burger lovers and families. To achieve this, they will be focusing their innovations and marketing on the burger, which is their core business. In addition, they have a dynamic promotional calendar with a new marketing strategy and a considerable number of initiatives aimed at attaining an even higher level of operational excellence. Quick is planning to approach services by sales channel. iii. Gross profit as of December 31, 2011 was 257,199€. Share price was 109,253€ as of December 31, 2011. Having served 208 million customers in 2011, overall sales were estimated to total out to 982 million euro. Net profit for the 2011 financial year showed a loss of €22.1 million, for the following reasons: Avignon incident, that was offset in part by insurance coverage; associated with the slowdown in business; the Group’s debt write-off related to its interests in Russia. iv. The Corporate Governance Structure of the Financiere Quick S.A.S. is comprised of the Supervisory Board, the Chief Executive Officer of Finaciere Quick S.A.S., the Management Board and the Remunerations Committee. The Supervisory Board is in charge of overseeing the management of the company through the Management Board. Financiere Quick owns 100% of the capital of Quick Restaurants S.A.
III. Product Category Review
i. Quick has for years undertaken specific action with a view to improving the nutritional profile of its products, reduce their environmental footprint and promote the development of all talents.
In this respect, Quick was the first fast-food hamburger restaurant brand to introduce salads (1983) and mineral water (1988) to its menu, use biodegradable, compostable, recyclable mini-micro fluted cardboard (1999) or recruit restaurant management personnel on account of their aptitude rather than their qualifications or experience (2008). They ask their suppliers to observe strict specifications: no GMO, information on the allergens present, Quick uses allowable additives only if there is a technological need to add them and if they present no risk to the health of the consumer. The large majority of the raw materials are of European origin (France and Benelux, mainly) and they are selected to ensure our products are tasty. ii. In 2011, the Group investments net of disposals amounted to €51 million, of which €29 million in France, €7.5 million in Belgium and Luxembourg, €5.3 million in other countries, and €9.2 million in IT equipment and the headquarters. The investments are broken down by type as follows: €10.1 million for opening of new restaurants, €14.9 million for renovations, €11.5 million for maintenance of the existing restaurant base, €6.6 million in subsidiaries and joint ventures, and €9.2 million for the headquarters and IT. As of February 1, Quick implemented a cost-reduction
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