● Losing stigma as a “burger place” by product innovation within breakfast, chicken products & snacks ● Diverse menu gives Jack a leg up on competition ● Strong unit economics ● Healthy development potential
• While relatively weak sector performance over the last 30 days is notable given loosening government restrictions, it may reflect the expiration of stimulus benefits which provided a tailwind over the previous 3 months. • In any case, the tech sector’s performance (Olo, PAR Tech & Grubhub) was propelled by Olo’s post IPO strength.
• Results for 1Q21 were very positive as the industry slowly, but surely gets back to normal. • Off-premise seems able to retain elevated sales levels even as the sit-down business returns. • An acceleration in digital adoption is not only improving convenience, but also operator efficiency. • Labor & food inflation continue to be a major concern.