Wingstop reported same-store sales growth of 7.5% in the fourth quarter ended Dec. 20. Alex Kaleida, CFO of the fast-causal restaurant chain, said the company believes the worst of the wing shortage and inflation is in the past. The effect of total price increases has been 10%, of which half has been passed onto customers, he said.
Restaurant Brands International reported same-store sales gains at three of its four brands for the fourth quarter ended Dec. 31, the exception being Popeyes Louisiana Kitchen, which saw same-store sales drop 0.4% for both the quarter and the fiscal year. Same-store sales increased 11.3% at Burger King, 10.3% at Tim Hortons and 14.7% at Firehouse Subs for the quarter, though the latter reflects only a partial quarter, as the chain was acquired Dec. 15. The company anticipates more menu price increases in 2022 to offset labor costs and inflation.
Chipotle reported a same-store sales increase of 15.2% for the fourth quarter ended Dec. 31, and raised its unit-growth target to 7,000 across North America, up from the previous goal of 6,000. The fast-casual brand is also making investments that have stabilized its labor force and will support those accelerated growth plans.
Yum Brands reported an overall 5% same-store sales increase for the fourth quarter ended Dec. 31, with 8% growth at Taco Bell, 5% growth at KFC and 3% growth at Pizza Hut. The company also accelerated development in 2021, opening a record 3,057 net new units.
Rave Restaurant Group reported same-store sales gains of 31% at pizza buffet chain Pizza Inn and 15% at fast-casual pizza brand Pie Five in the second quarter ended Dec. 26, one year after receiving its second Nasdaq delisting warning notice in six months.
Starbucks reported 18% U.S. same-store sales growth in the first quarter ended Jan. 2, though the coffee giant was still hindered by high inflation, the omicron variant and the industry-wide labor crisis. The company raised prices twice in two months, according to CEO Kevin Johnson.
The Cheesecake Factory reported same-store sales growth of 33.8% year-over-year for the fourth quarter ended Dec. 28. The company shared that it would increase menu prices 3.25% this month, bringing its year-over-year menu price increase total to 4.75% with more to come.
Bloomin’ Brands reported U.S. same-store sales growth of 27.9% for the fourth quarter ended Dec. 26. Still, the casual-dining company is planning a 5% price increase to offset inflation costs.
Shake Shack reported same-store sales growth of 20.8% over 2020 for the fourth quarter ended Dec. 29, with the fiscal year up 24.2%. Company executives said the brand was planning to raise prices by 3%-3.5% in March with possible further increases later in the year.
Denny’s reported domestic same-store sales growth of 49% for the fourth quarter ended Dec. 29, with off-premises continuing to drive sales even as on-premises sales continue. The family-dining chain has raised prices by 2% and is rolling out a new restaurant remodel.