IHOP is New IHOb (“b” is for burgers)
There are times, we confess, when we wonder if corporate America has lost its mind. We had that experience today when we read that International House of Pancakes has changed its name to International House of Burgers (IHOb).
That wouldn’t have been surprising 50 years ago. Or even 20, maybe even 10. But this morning’s Wall Street Journal reports meat-substitute burgers are growing perhaps 24% a year. Sales of non-dairy “milk” grew 7% last year, while cow’s milk sales fell 4%. Rebranding into a declining market doesn’t strike us as too smart. Plus: Burger joints are a dime a dozen. Good pancake houses are hard to find.