Chipotle Mexican Grill, Wingstop and Sweetgreen all beat Wall Street's estimates for their quarterly same-store sales growth.
Chipotle Mexican Grill, Wingstop and Sweetgreen all beat Wall Street's estimates for their quarterly same-store sales growth.CREATE FREE ACCOUNT
In general, customers of fast-casual chains tend to have higher incomes than those of the fast-food sector, insulating the segment somewhat from low-income consumers' spending pullback. High-income consumers haven't felt the same pinch as those in lower-income brackets. Similarly, most of Sweetgreen's locations are in high-income neighborhoods, CEO Jonathan Neman said last year. On Thursday, the salad chain reported first-quarter same-store sales growth of 5% andfor same-store sales growth. Traffic was flat, but executives said bad weather and the inclusion of New Year's Day and Easter hurt its business.Chipotle and other chains have also gotten a boost from consumers' perception of their value as the cost of Big Macs and Whoppers rise.
"You can see that fast casual is just a superior value for that consumer, given the quality of what they're getting," Charles said.7%, fueled by a 5.4% increase in foot traffic. The burrito chain has a strong perception of value among diners, CEO Brian Niccol told analysts on the company's April 24 conference call. Chipotle executives have also previously emphasized that most of its customers come from higher-income brackets.
Dine Brands Global Brian Niccol Earnings CAVA Group Inc Shake Shack Inc Portillos Inc Yum! Brands Inc Starbucks Corp Mcdonald's Corp Sweetgreen Inc Wingstop Inc Chipotle Mexican Grill Inc Breaking News: Business Business Restaurants Retail Industry Business News
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdownChipotle Mexican Grill, Wingstop and Sweetgreen all beat Wall Street’s estimates for their quarterly same-store sales growth.
Read more »
Martinez: An array of Mexican dishes — plus dessert and brunch — await at Mi Casita Mexican CuisineMartinez’s new Mi Casita Mexican Cuisine restaurant is bringing not only enchiladas and tacos but an impressive dessert lineup — and brunch.
Read more »
Mexican cuisine TikTok queen shares recipes from debut cookbook, 'My Mexican Mesa'Jenny Martinez shared two savory dishes and one sweet dish with 'GMA' Food.
Read more »
Mexican Peso pauses in recovery ahead of Mexican GDP dataThe Mexican Peso (MXN) has stalled after rallying against most counterparts over recent sessions.
Read more »
Mexican officials regret US decision not to retry American rancher in fatal shooting of Mexican manThe Mexican consul general in Nogales says his foreign ministry is displeased with the decision not to retry an Arizona rancher accused in the fatal shooting of a Mexican man on his property
Read more »
Mexican officials regret US decision not to retry American rancher in fatal shooting of Mexican manPHOENIX (AP) — Mexico's top official in the Arizona border town of Nogales said Tuesday his country is displeased that prosecutors in the U.S. won't retry an American rancher accused of fatally shooting a Mexican man on his property.
Read more »