Restaurant executives can't wait for 2025 after slow traffic and wave of bankruptcies [CNBC]
Restaurant Brands International Inc. Common Shares (QSR)
Last restaurant brands international inc. common shares earnings: 5/1 06:30 am
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Source: CNBC
This year, restaurant bankruptcy filings soared, traffic declined and same-store sales disappointed. But green shoots, like improving sales, have given executives hope that next year will be different. After a tough year for the restaurant industry, executives can't wait for 2025 to start. “I don't know about you guys, but I'm ready for '24 to be behind us, and I think ‘25 is going to be a great year,” Kate Jaspon, CFO of Dunkin' parent Inspire Brands, said at the Restaurant Finance and Development Conference in Las Vegas this week. Restaurant bankruptcy filings have soared more than 50% so far in 2024, compared with the year-ago period. Traffic to restaurants open at least a year declined year over year in every month of 2024 through September, according to data from industry tracker Black Box Intelligence. And many of the nation's largest restaurant chains, from McDonald's to Starbucks , have disappointed investors with same-store sales declines for at least one quarter.
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QSR
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QSR
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- 11/5/24 - Form 10-Q
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