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Restaurants’ Market Share Still Gaining, But Grocery Spending Moving Up
By Mark Kalinowski
Published on May 15, 2024 at 10:00 AM
Data out today from the U.S. Census shows that restaurants’ market share (with grocery stores/supermarkets making up the other component) was 55.8% in April 2024. This 55.8% figure is only -30 basis points below the all-time monthly record. It’s also up by +90 basis points on a year-over-year basis.
Pricing Gap in Favor of Grocery Stores over Restaurants Remains Steady
By Mark Kalinowski
Published on May 15, 2024 at 9:09 AM
The latest Consumer Price Index (CPI) data shows that prices for food-at-home (grocery stores and supermarkets) rose by +1.1% in April — sequentially down by -10 basis points from March’s +1.2%.
PZZA (Post-Call): Lowering Forecasts as Sales Expected to Remain Pressured
By Mark Kalinowski
Published on May 9, 2024 at 9:13 AM
Earlier today (Thursday), Papa Johns reported that its Q1 adjusted EPS amounted to $0.67. This was ahead of our $0.60 forecast and sell-side consensus (according to Consensus Metrix) of $0.57.