Thursday May 30, 2024, 07:00:00

Quick-Service Restaurants: California Unit Growth Plans for 2024 vs. 2023

By Mark Kalinowski

California raised its minimum wage for most quick-service/fast-casual employees to $20 per hour as of April 1, 2024. The bill containing this provision – AB1228 — was signed into law on September 28, 2023. As such, restaurant concepts had several months’ advance notice that per-hour labor costs would be going up meaningfully in this key state. To what extent, if any, did this affect unit-growth plans for California in 2024?

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Wednesday May 29, 2024, 07:00:00

Pizza Sector: What Sales Trends Hint at re: Average Unit Volumes (5/29/2024)

By Mark Kalinowski

Recently, Domino’s, Pizza Hut (owned by Yum Brands [YUM; Neutral, $135.86]), and Papa Johns all reported their Q1 2024 U.S. same-store sales. In this report, we discuss how these same-store sales results — and potential results for full-year 2024 — 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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Thursday May 23, 2024, 07:00:00

Burger Sector: What Same-Store Sales Trends Hint at re: Average Unit Volumes (5/23/2024)

By Mark Kalinowski

McDonald’s, Wendy’s, and Burger King (owned by Restaurant Brands International [QSR; Not Rated]) each recently reported their Q1 2024 U.S. same-store sales. In this report, we discuss how these same-store sales results — and potential results for full-year 2024 — 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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