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Restaurant Industry
Mark Kalinowski

Burger Sector: What Same-Store Sales Trends Hint at re: Average Unit Volumes (5/31/2023)

McDonald’s, Wendy’s, and Burger King (owned by Restaurant Brands International [QSR; Not Rated]) each recently reported their Q1 2023 U.S. same-store sales. In this report, we discuss how these same-store sales results — and potential results for full-year 2023 — 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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Restaurant Industry
Mark Kalinowski

Pizza Sector: What Sales Trends Hint at re: Average Unit Volumes (5/24/2023)

Recently, Domino’s, Pizza Hut (owned by Yum Brands [YUM; Neutral, $131.45]), and Papa Johns all reported their Q1 2023 U.S. same-store sales. In this report, we discuss how these same-store sales results — and potential results for full-year 2023 — 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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Restaurant Industry
Mark Kalinowski

Restaurants Gain +130 Basis Points of Market Share vs. Grocery Stores in April

Data out today from the U.S. Census shows that restaurants’ market share (with grocery stores/supermarkets making up the other component) was 54.5% in April 2023. Sequentially, this is +20 basis points higher than the March 2023 figure of 54.3%, and +10 basis points higher than the Q1 2023 number of 54.4%. The April 2023 showing marks the second-best month ever in this regard, surpassed only by January 2023’s 54.9% number. On a year-over-year basis, restaurants’ market share was up by +130 basis points in April 2023.

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McDonald's Corp (MCD)
Mark Kalinowski

MCD: Should McDonald’s Relocate its Headquarters Far Away from Chicago?

McDonald’s was headquartered in a suburb of Chicago — Oak Brook — from 1971-2018. For most of that time, the site within Oak Brook that served as McDonald’s headquarters was the 80-acre McDonald’s campus. In 2018, McDonald’s moved its headquarters from Oak Brook to Chicago – more specifically, 110 North Carpenter Street. That site is part of Chicago’s Near West Side neighborhood. (The former McDonald’s campus in Oak Brook is becoming the new headquarters for Ace Hardware.)

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