• While 2020 was perhaps the industry’s worse year ever, there were definitely winners and losers mixed-in the overall results.
• To this end, relative $1B+ chain outperformance reflected the clear benefit of scale – helping the national brands to pivot around tech, access and marketing in ways which the smaller players were not able to replicate.
• Executive summaries for Wendy’s, Domino’s, and Little Caesar’s.

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