• 1Q21 comps were very strong with the $1B+ Chains reporting +10.8% growth on a weighted average basis (+8.5% on a 2-year stacked basis).
• What is notable is how well most of the industry performed since the 1Q20 lockdowns, with 3 QSR segments up double-digits on a 2-year stacked basis during 1Q21.
• While the sit-down chains are getting back to normal, they still have a good bit of lost ground to recover.

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