In their most recent earnings calls, restaurant companies continued to report same-store sales increases, but that growth was beginning to slow this summer as consumers prepared for a possible economic recession.
Casual-dining restaurant chains continue to see increases over 2021, when many were still working against dining-room restrictions and consumers worried about the Delta variant of COVID-19. Quick-service chains, on the other hand, had a harder time improving their performance, especially as chains struggled with ongoing inflation and labor shortages.
Some companies in the fast-casual sector, including Shake Shack, reported slowing unit growth because of equipment shortages and permitting issues. Meanwhile, Dutch Bros expects to open over 100 new units before the end of the year.
Industry-wide, restaurants continue to increase menu prices, attempting to balance inflation with customers’ increasing caution. Black Box Intelligence also reported slowing sales and traffic growth across all segments.
Click through this gallery to see how 23 restaurant companies performed in their most recent quarters.