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How 10 restaurant companies performed in their latest quartersHow 10 restaurant companies performed in their latest quarters

While sales remain positive, casual-dining chains are suffering and quick-service brands thriving from The Great Trade Down

Leigh Anne Zinsmeister, Managing Editor

February 17, 2023

10 Slides
7 Chipotle

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The biggest trend throughout the most recent quarter has been the trade down throughout the restaurant industry. Though same-store sales continue to trend positive across the board — likely thanks to ever-increasing menu prices — traffic has begun to slip at full-service restaurants, while limited-service brands are seeing a boost.

Of course, for every rule, there must be an exception. So far, that title belongs to Texas Roadhouse, a casual-dining chain which has seen record traffic levels over the last seven weeks.

At fast-casual restaurants, same-store sales seem to be strong but still underperforming against expectations. Chipotle, for example, saw an increase of 5.6% but still referred to it as a tough quarter. Shake Shack, with a same-store sales increase of 5.1% and increased traffic, seemed more optimistic as it continues to target diners with “affordable luxury.”

In the quick-service space, restaurants are thriving. Krispy Kreme same-store sales were up 15% as that company continues to lean into its omnichannel strategy. Taco Bell saw increased same-store sales of 11% on the strength of its breakfast program, while the other QSR chains in Yum Brands’ portfolio also had increased same-store sales.

Click through this gallery to see how these and other restaurant companies performed in their most recent quarters.

Related:January data proves this inflationary environment is very stubborn

About the Author

Leigh Anne Zinsmeister

Managing Editor

Leigh Anne Zinsmeister is a managing editor for Informa’s Foodservices Vertical, specifically Nation’s Restaurant News, Restaurant Hospitality, and Foodservice Director.  Leigh Anne works on all of the brands’ special reports, including Nation’s Restaurant News’ annual Top 500 report and Restaurant Hospitality’s Best Cocktails and Best Sandwiches contests. She also manages the group’s digital engagement team, and was the managing editor for Supermarket News until December 2024.

Leigh Anne lives in New York City, but also claims Phoenix, Dallas and Cleveland as hometowns. Leigh Anne holds a bachelor’s degree in print journalism from the Walter Cronkite School of Journalism and Mass Communication at Arizona State University, where she also studied European history. 

Email Leigh Anne at [email protected] 

Leigh Anne Zinsmeister’s experience: 

  • Group Managing Editor, Informa’s Foodservices Vertical (Aug. 2021-present)

  • Group Content Manager, Informa Restaurant and Food Group (Feb. 2020-Aug. 2021)

  • Digital Content Manager, Informa Restaurant and Food Group (April 2018-Feb. 2020)

  • Digital Content Producer, Informa Restaurant and Food Group (June 2016-April 2018)

  • Community Moderator, Mail Online (March 2014-June 2016)

  • Wire Editor, Gannett’s Phoenix Design studio (The Arizona Republic, The Reno Gazette-Journal, The Statesman Journal, The Great Falls Tribune, The Visalia Times-Delta, The Tulare Advance Register, The Salinas Californian, The St. George Spectrum, The Desert Sun, The Coloradoan) (Jan. 2012-March 2014)

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