Earlier today, Starbucks hosted an Analyst Meeting in New York City. As part of this, Starbucks unveiled some new financial targets for the years through fiscal 2028. These include:
Before today’s (Wednesday’s) market open, Starbucks reported fiscal Q1 2026 (calendar Q4 2025) adjusted EPS of $0.56. This was short of our $0.60 forecast as well as sell-side consensus (according to Consensus Metrix) of $0.58.
McDonald’s plans to release its Q4 earnings after the market close (not the usual before the market open) on Wednesday, February 11th. Today we publish part two of the January 2026 edition of our proprietary McDonald’s Franchisee Survey. As part of this, we asked our franchisee contacts to provide their thoughts and commentary about the updated National Franchising Standards.
McDonald’s plans to release its fourth-quarter earnings after the market close (not the usual before the market open) on Wednesday, February 11th. Ahead of that, we publish part one of our two-part, proprietary McDonald’s Franchisee Survey today.
With this report, we update our data-driven Kalinowski Restaurant Industry Index for Q4 2025 to +1.6%. All in all, this ties for the second-best quarter since Q4 2023’s +3.6% result. But, it’s still over a percentage point below the long-term average, and does not imply any sequential improvement from Q3 2025. It has been a long two years for the domestic restaurant industry!
With this report, we update our data-driven Kalinowski Quick-Service Other Index for Q4 to +2.6%. Comparing to Q4 2019 levels – a pre-pandemic basis — the Kalinowski Quick-Service Other Index for Q4 2025 is at +23.1%. These numbers are based on our latest proprietary checks/data as regards same-store sales performance for this segment during October, November, and December.