Phil Mangieri

2024 Unit & Sales Growth Abbreviated Report

2024 Unit & Sales Growth Abbreviated Report

Restaurant Research’s Unit & Systemwide Sales Growth Report provides a 10-year history for 58 $1B+ chains including: (1) total units; (2) new units; (3) closures; (4) systemwide sales; and (5) system sales market share.

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2024 Unit & Sales Growth

2024 Unit & Sales Growth

Restaurant Research’s Unit & Systemwide Sales Growth Report provides a 10-year history for 58 $1B+ chains including: (1) total units; (2) new units; (3) closures; (4) systemwide sales; and (5) system sales market share.

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Kohl’s Corporation 1Q24: Recovering From Last Year’s Discounts

Kohl’s Corporation 1Q24: Recovering From Last Year’s Discounts

Kohl’s reported that last year’s elevated clearance activity drove a -6% drag on its 1Q24 comps as the chain emphasized regular price sales which were strong through the first 8 weeks of the quarter before softening in late March & into April (reflecting spring seasonal product weakness). While its regular price comp sales did increase low single digits during 1Q24 (best performance since 2018), they were below expectations.

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Lululemon 1Q24: Flatlining Domestic Results Offset by International Strength

Lululemon 1Q24: Flatlining Domestic Results Offset by International Strength

Lululemon’s +10% revenue growth during 1Q24 was driven by a +35% increase in its international segment which compensated for +3% results in the Americas (on flat comps). International sales accounted for 21% of its FY23 total & management sees the potential for that mix to reach 50% over the long term. For the time being, the company’s growth is driven by product innovation, with significant upside noted in new performance fabrics & colors for women and ShowZero tech for men’s polos (hides the appearance of sweat).

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United Natural Foods, Inc. 3QFY24: Turnaround Underway

United Natural Foods, Inc. 3QFY24: Turnaround Underway

United Natural Foods has identified a current & potential customer base totaling $90B+ of sales which includes many conventional, specialty, natural & ethnic operators. This market is expected to grow at a low single-digit rate over the long term (led by natural & specialty volumes). While industry promotions continue to gradually increase, they remain a little lower than pre-covid levels in terms of frequency & depth.

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Dollar Tree 1Q24: Results Boosted by High-Income Demo Trade-Down

Dollar Tree 1Q24: Results Boosted by High-Income Demo Trade-Down

Increased sales & traffic during the quarter were driven by trade down from higher-income consumers into Dollar Tree stores, with specific strength in refrigerated & frozen consumables like its $4-5 pizza which can feed a family of four. Both its Dollar Tree & Family Dollar chains continue to gain consumables market share with dollar growth exceeding the market by +1.8% & unit growth exceeding the market by +0.8%.

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