This article was featured in NRN.
As another earnings season ends, Nation’s Restaurant News looks back at restaurant company performance.
Many restaurant chains, especially those in the quick-service and fast-casual segments, returned to growth over 2019 this quarter as recovery from the COVID-19 pandemic continues. Those that are still showing same-store sales declines from 2019 are showing improvement in momentum from the previous quarter this year.
Many brands cited investments in technology and digital offerings when touting their recent success. McDonald’s executed a digital marketing campaign with K-pop band BTS, and saw 25.9% U.S. same-store sales growth as a result. Yum Brands, meanwhile, credited recent investments in technology, such as the acquisition of Kvantum and TicTuk and the more recent purchase of Dragontail Systems Limited, which is expected to close later this year. That company saw two-year same-store sales growth at all four of its brands last quarter.
Restaurants are also talking about the ongoing popularity of off-premises options among consumers. Casual-dining companies including Darden Restaurants, Bloomin’ Brands and Brinker International all said they’ve continued to see strong off-premises sales even as customers return to indoor dining rooms. Quick-service chain Wendy’s announced it inked a deal with REEF Technology to open 700 delivery kitchens over the next five years.
Click through to see how 24 restaurant chains performed in their most recent quarters, and to read up on other trends, including loyalty programs and increasing menu prices.