With this report, we update our data-driven Kalinowski Restaurant Industry Index for Q2 2025 to +0.7%. This is sequentially improved from Q1 2025’s -0.4% result, which was the weakest non-pandemic quarter of the last 10+ years. However, +0.7% is nothing to get excited about, to be sure. For one thing, the Q1 2025 result was weather-impacted (particularly from a cold/snowy February). The Q2 2025 number was not weather-impacted to any material degree. So, when one excludes the effects of February weather, the Q2 2025 same-store sales trends for the industry were very similar to those of Q1 2025.

With this report, we update our data-driven Kalinowski Quick-Service Pizza Index for Q2 to -0.6%. Comparing to Q2 2019 levels — a pre-pandemic basis — the Kalinowski Quick-Service Pizza Index for Q2 2025 is at +17.5%. Our -0.6% figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during April, May, and June.

With this report, we update our data-driven Kalinowski Quick-Service Other Index for Q2 to +2.4%. Comparing to Q2 2019 levels – a pre-pandemic basis — the Kalinowski Quick-Service Other Index for Q2 2025 is at +30.4%. These numbers are based on our latest proprietary checks/data as regards same-store sales performance for this segment during April, May, and June.