That was “a crazy feat on its face, given the challenges the restaurant and hospitality industry is recovering from: the worst pandemic in 100 years, supply-chain challenges, a shallow labor pool, and a still-uncertain economy,” according to the National Restaurant Association.
But for Adamolekun, a former Goldman Sachs investment banker, that reward was worth the risk—and it could be the same at Red Lobster.
“Investing is the business of risk assessment, and I think you should manage your career the same way,” he told Fortune’s Umoh. “Risk on its own isn’t something to avoid. You just need adequate return.”
It’s “because I know how to do math,” Adamolekun said plainly during an interview with Today last November. While the $20 endless shrimp deal made quite a splash with customers, the company suffered millions in operating losses.
Adamolekun has also said he wants to “lower the check” for customers, making it more affordable to dine there.
“We should be the best deal for the best lobster because we do have the best product,” Adamolekun told Today.
While that’s a lot of change in a relatively short period of time, Adamolekun isn’t shying away in his comeback plan.
“Some people refuse to set ambitious goals because they’re terrified of failure,” he told Fortune’s Umoh. “I’m not afraid of that. I don’t mind setting really high goals, and I don’t mind going after difficult things. You do your best and try to win.”
