With this report, we update our data-driven Kalinowski Casual Dining Index for Q3 to +2.4%. This is the one-year figure, lapping the +36.1% number from Q3 2021 and the -18.7% figure from Q3 2020. On a three-year (pre-pandemic) basis, the Kalinowski Casual Dining Index for Q3 is at +13.4%. These numbers are based on our latest proprietary checks/data as regards same-store sales performance for this segment during July, August, and September. Keep in mind, individual performance can vary wildly on a concept-by-concept basis.
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Kalinowski Equity Research LLC provides its clients with value-added, forward-looking information that helps them make informed decisions about restaurant-stock investing.
Back on August 31st, we raised our EPS estimates for Papa Johns, citing block cheese prices that had trended downward – important for a company that owns and operates about 9% of its store base. Block cheese closed on August 31st at $1.73 per pound (one cent above the 2012-21 historical average of $1.74 per pound).
With this report, we update our data-driven Kalinowski Quick-Service Pizza Index for Q3 to -0.6%. This is the one-year figure, lapping the +1.4% number from Q3 2021, and the +15.2% figure from Q3 2020. Our -0.6% figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during July, August, and September.