Based on our channel checks, we adjust our Q4E McDonald’s U.S. same-store sales forecast.
November 2021 was the 8th full month in the U.S. to lap a year-ago month that was affected by the pandemic and related issues. How is average check changing in the U.S. quick-service and fast-casual segments given these recent dynamics? Our bottom line: average check is holding in better than expected for fast-casual and quick-service (and particularly so for the quick-service burger segment). To the extent two-year trends in average check don’t deteriorate all that
Papa Johns latest test menu item has appeared in multiple states. Under Rob Lynch — named CEO of Papa Johns in late August 2019 — menu innovation has been much greater, with Epic Stuffed Crust Pizzas and Papadias examples of that. Looking ahead, will most of Papa Johns forthcoming U.S. menu innovation center around pizzas, or non-pizza menu items? VP of Investor Relations & Strategy Steve Coke recently told us to “Expect a healthy blend of both.