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Nation's Restaurant News
How 23 restaurant companies performed in their most recent quarters
NRN staff Aug 22, 2022

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The Cheesecake Factory registered a 4.7% increase in same-store sales for the second quarter ended June 28. The company said it saw revenues increase over last year’s second quarter but experienced inflationary headwinds.

Texas Roadhouse saw its casual-dining customers get back to normalized eating habits as the company reported a same-store sales increase of 7.6% at company restaurants and 6.2% at domestic franchise restaurants in the second quarter ended June 28. The brand is continuing to lean into technology upgrades such as pay-at-the-table, which helps operators turn tables over “a little quicker,” according to CEO and president Jerry Morgan.

Domino’s reported a U.S. same-store sales decline of 2.9% for the second quarter ended June 19, though the quick-service pizza brand did perform better than initially expected. The company continues to struggle with delivery, but its carryout performance is gaining momentum thanks to the Q1 addition of carryout tips, a reward for consumers who choose to pick up their pizzas themselves.

BJ’s Restaurants saw same-store sales increase 11.7% in the second quarter ended June 28, with sales surpassing pre-pandemic levels. The casual-dining company is keeping a close eye on inflation, for its own sake and the sake of its consumers, though through July had not seen any measurable change in guest behavior.

McDonald’s reported a U.S. same-store sales increase of 3.7% in the second quarter ended June 30, mostly attributable to menu price increases. The quick-service company, which is implementing frequent, small menu-price increases, remains cautious about consumer sentiment.

Chipotle Mexican Grill reported a same-store sales increase of 10.1% for the second quarter ended June 30, though the fast-casual company was seeing lower-income guests pull back on frequency. Chipotle was planning another 4% menu price hike for August to offset rising food costs, milder than earlier menu price increases of 8.5% in 2021 and 10.5% in Q1 of this year.

Wingstop reported same-store sales drop 3.3% in the second quarter ended June 25, and is implementing strategies like a new chicken sandwich and use of Uber Eats in the coming quarters.

Noodles & Company saw same-store sales increase by 15.1% in the second quarter ended June 28, and said it was planning to add a southern franchisee, entering a new market for the fast-casual brand.

Jack in the Box reported same-store sales declines of -0.6% for the quarter ended July 10, while Del Taco had same-store sales growth of 3.5% in its first full quarter with the company. The decline at Jack in the Box was largely attributed to a continued traffic slowdown and reduced operating efficiencies as staffing slowly begins to improve, though partially offset by growth in late-night traffic.

Wendy’s reported a same-store sales increase of 3.7% systemwide and 2.3% in the U.S. in the second quarter ended July 3. The company has announced plans to reduce its number of planned delivery-only Reef units.

Dine Brands Global reported same-store sales increases of 1.8% at Applebee’s and 3.6% at IHOP for the second quarter ended June 30. The company said it views pricing as a competitive advantage to increasing market share, although franchisees raised prices about 7% year-over-year. Both brands saw a “modest decline in traffic” in June.

Shake Shack reported a same-store sales increase of 10.1% for the second quarter ended June 29. The company announced it would raise prices between 5% and 7% in the mid-fourth quarter, the second price hike of the year after a similar one in March. Shake Shack also said the availability of some equipment was affecting the chain’s ability to open new restaurants.

 Portillo’s reported a same-store sales increase of 1.9% in the second quarter ended June 26. The fast-casual company reported that development of new restaurants was facing hurdles, mostly due to local permitting.

Restaurant Brands International reported consolidates same-store sales were up 9% for the second quarter ended June 30, broken down by brand: Burger King up 10%; Tim Hortons up 12.2%; Popeyes up 1.4% and Firehouse Subs down 1.4%. The parent company said it was aiming to keep price hikes in line with CPI, asking franchisees to not “get too far ahead of the consumer.”

Papa Johns reported domestic same-store sales growth of 0.9% in the second quarter ended June 26, one of the only quick-service pizza brands to see growth at all. The company has taken an average systemwide 7-8% menu price increase so far this year and has not been aggressively rolling out national discounts to bring in more price-conscious customers.

Starbucks reported a same-store sales increase of 8.7% in the U.S. in the third quarter ended July 3, and record quarterly revenues of $8.2 billion.

Yum Brands reported systemwide same-store sales growth of 1% in the second quarter ended June 30, broken down by brand: down 1% at KFC; up 8% at Taco Bell, down 3% at Pizza Hut; down 4% at The Habit Burger Grill. The company’s star last quarter was Taco Bell’s Mexican Pizza, while KFC and Pizza Hut struggled due to delivery driver shortages.

Denny’s reported a same-store sales increase of 2.5% for the second quarter ended June 29 and said it was anticipating more unit growth on the heels of its acquisition of Keke’s Breakfast Café.

Chuy’s reported a same-store sales increase of 1.7% for the second quarter ended June 26. The casual-dining chain said it expected to add value specials as it continues with its pared-down menu.

First Watch reported a same-store sales increase of 13.4% for the second quarter ended June 26. The growth momentum was largely thanks to menu innovation, including crab cakes benedict and a chorizo breakfast sandwich in the spring and barbacoa and blueberry muffin griddle cakes for the summer.

Sweetgreen reported a same-store sales increase of 16% for the second quarter ended June 26, but was seeing just 7% growth in June and July as summer traffic growth slowed. The company also announced in August that it had laid off 5% of its corporate workforce.

Dutch Bros reported a same-store sales decline of 3.3% for the second quarter ended June 30, but said in August it was on track to open 130 new units by the end of the year.

Red Robin reported a same-store sales increase of 6.7% in the second quarter ended July 10. The company was emphasizing value, including its $10 Gourmet Meal Deal, to offset flagging consumer confidence and what it called “disappointing” sales.

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