Sales

CHALLENGING 3Q SALES OUTLOOK OVERSHADOWS DECENT 2Q RESULTS

While 2Q comps for the $1B+ Chains increased +3.5% (+14% 3-yr. stack), RR’s consumer survey (which measures intentions to eat-out over the next month) continues to reveal a challenging 3Q sales outlook.

In any case, the pricing gap between the restaurant industry and grocery stores continues to widen, making eating out a better value on a relative basis.