“One of Wall Street’s Top Analysts” – CNBC

Expert Stock Coverage

Unparalleled Expertise

 

“Mark Kalinowski has his finger on the pulse of the restaurant business like no other Wall Street analyst… he has broken more news about McDonald’s than the reporters assigned to the beat… Kalinowski rolls up his sleeves, dives in and brings important news to the surface for clients”

-Huffington Post

 

“The Burger King with accurate predictions… The Big Mac of predicting the company’s [McDonald’s] sales.”

-The Wall Street Journal

 

Lead Analyst:

 
 

Mark Kalinowski
PRESIDENT & CEO

Kalinowski Equity Research LLC provides its clients with value-added, forward-looking information that helps them make informed decisions about restaurant-stock investing.

Restaurant Industry
Mark Kalinowski

Pizza Sector: What Sales Trends Hint at re: Average Unit Volumes (12/4/2025)

Recently, Domino’s, Pizza Hut, and Papa Johns all reported their Q3 2025 U.S. same-store sales. In this report, we discuss how these same-store sales results — and potential results for full-year 2025 — relate to these three concepts’ average unit volumes (AUVs). We further discuss what this means for the companies, and their stocks.

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Restaurant Industry
Mark Kalinowski

Burger Sector: What Same-Store Sales Trends Hint at re: Average Unit Volumes (12/2/2025)

McDonald’s, Wendy’s, and Burger King (owned by Restaurant Brands International [QSR; Not Rated]) each recently reported their Q3 2025 U.S. same-store sales. In this report, we discuss how these same-store sales results — and potential results for full-year 2025 — relate to these three concepts’ average unit volumes (AUVs). We further discuss what this means for the companies, and their stocks.

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Restaurant Industry
Mark Kalinowski

Restaurants: Food-Away-From-Home Sales Top $100 Billion for First Month Ever

Data out today from the U.S. Census shows that restaurants’ market share (with grocery stores/supermarkets making up the other component) was 56.6% in September 2025. This is sequentially up by +10 basis points from August 2025’s 56.5% market share. The 56.6% figure also sets a new all-time monthly record. So, even though same-store sales for most large restaurant concepts during Q3 2025 — and Q4 2025 so far — appear lackluster, this dynamic does not appear to be due to consumers meaningfully shifting their food spend to grocery stores and supermarkets.

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