Restaurants: BlackBox Index Up on a Two-Year Basis for April 2021

By Ryan D. Lavender Published on May 13, 2021 at 12:45 PM

Earlier today (Thursday, May 13th), we learned that the BlackBox Index of samestore sales for April 2021 — importantly, these data points are on a two-year basis — was up by +6.8%, with two-year traffic off by -4.2%.

WEN (Post-Call): Breakfast Mix Holding Steady Despite Strong Rest-of-Day Growth

By Ryan D. Lavender Published on May 12, 2021 at 12:48 PM

Earlier today, Wendy’s reported (adjusted) Q1 EPS of $0.20, above our $0.15 forecast and sell-side consensus (according to Consensus Metrix) of $0.15.

MCD: A Typical U.S. Franchised Restaurant’s Annual Income Statement

By Ryan D. Lavender Published on May 11, 2021 at 12:51 PM

Clients sometimes ask us what the detailed income statement of a typical McDonald’s U.S. franchisee looks like. What follows is our best efforts to put together a typical, detailed income statement for the “average” U.S. McDonald’s standard-size franchised store.