RR Dashboard: Optimism Not Tempered by Inflation

Jan 4, 2022 | Dashboard

Same Store Sales Trends

Optimistic Start for the New Year

  • Darden reported strong comps for the quarter ended 11/28, including +3.6% on a 2-year stacked basis at Olive Garden and +16.6% 2-year stacked at LongHorn.
  • Darden also increased its FY 5/31/22 aggregate comp outlook slightly to +29% to +31%.
  • Notably, RR’s Intent to Eat Out Index indicates a sharp y/y uptick for January.

  • All-the-same, it remains to be seen what impact higher menu prices will have on sales…
  • QSR CPI prices are at their highest level in at least 22 years (+14.3% in November 2021 on a 2-yr. stacked basis).
  • Food at Home prices are also accelerating, up +10.2% y/y during November on a 2-yr. stacked basis.

 

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