Wednesday August 14, 2024, 08:50:21
By Mark Kalinowski
The latest Consumer Price Index (CPI) data show that prices for food-at-home (grocery stores and supermarkets) rose by +1.1% in July — sequentially the same as June’s +1.1%. This +1.1% number compares with price for food-away-from-home (restaurants) that increased by +4.1% year-over-year in July (sequentially equivalent to June’s +4.1%). This marks the 17th month in a row for which restaurant pricing is outpacing grocery/supermarket pricing.
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Tuesday August 13, 2024, 08:50:48
By Mark Kalinowski
In a stunning move, Starbucks names Brian Niccol as its new CEO and Chairman. Mr. Niccol, of course, had been the CEO of Chipotle Mexican Grill since March 5, 2018. Our bottom line: good for Starbucks, acting quickly given its now apparent “buyer’s remorse” with its prior CEO. And while this will be viewed as bad for Chipotle in the short term, Mr. Niccol had been CEO there 6+ years, so perhaps the opportunity to bring some new thinking to that highly-respected company isn’t the worst thing in the world for the long run.
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Tuesday July 16, 2024, 09:07:07
By Mark Kalinowski
Data out today from the U.S. Census shows that restaurants’ market share (with grocery stores/supermarkets making up the other component) was 56.2% in June 2024. Putting a silver lining on it, this 56.2% figure is only -10 basis points below the all-time monthly record. However, it’s up by only +60 basis points year-over-year. This is the lowest year-over-year market-share gain for the restaurant industry since a +20 basis-point gain attained in July 2022.
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