Chili’s – low-income demo is showing weakness, especially during periods of elevated gas prices.
Applebee’s – 7% pricing & trade-down offset by weakening consumer sentiment.
Denny’s – results reflected +6.5% pricing, +3% mix & -7% traffic. Units open 24/7 outperform by mid teens.
IHOP – results helped by +10% in pricing & trade-down from higher-end restaurants partially offset by weakening consumer sentiment.
McDonald’s – results reflected +8% to +9% price increase (70% flow-through), lower units/transaction & flat traffic.
Jack in the Box – fewer transactions, reduced operating hours, unfavorable mix & lower units per transaction mostly offset by a +9% price increase.
Wendy’s – results attributed to a balanced marketing calendar & strategic price increases offset by traffic decline.
Burger King – corporate reported that it continues to narrow the gap versus industry performance.
Papa John’s – premium menu innovations; tech integrations with DSPs; and strategic menu pricing (+7% to +8%).
Domino’s – sales continue to be pressured by a shortage of delivery drivers and perhaps by a +6% price hike.
Pizza Hut – delivery driver shortage is being addressed by delivery as a service & DSP partnerships.
Wingstop – LSD comp guidance supported by wing deflation, value bundles & indulgence offered by wings.
Popeyes – digital sales grew +8% to an 18% mix.
KFC – a difficult lap over stimulus and the successful launch of its chicken sandwich platform.
