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So, how did the QSR industry perform in Q3 2024?
🟢 Revenue growth: Revenue growth across the industry reflected digital innovations, menu creativity, and strategic expansions. Leaders like Wingstop (20.9% same-store sales growth) and Texas Roadhouse (13.5% increase in revenue) set the pace for an industry-wide positive performance.
🟢 Profitability: Profitability improved industry-wide, with hake hack’s 28% EB D growth and Yum China’s 18% core operating profit increase as standout examples. These gains were achieved despite inflation and cost pressures, demonstrating effective operational strategies.
🟡 Market dynamics: Macroeconomic conditions were neutral overall, marked by demand stability offset by geopolitical challenges like the Middle East conflict and inflation pressures. Strategic adjustments in pricing and consumer engagement sustained industry performance.
🟢 Growth outlook: The revenue outlook remains positive, driven by new store openings, digital advancements, and customer loyalty programs. otable plans include hake hack’s targeted growth of 80-85 units and Wingstop’s 320-330 new restaurants in 2025.
🟢 Profitability outlook: Profit outlook points to sustained growth through cost optimization, productivity improvements, and strategic supply chain management. However, inflation and labor costs remain challenges across the board.
Curious to see our breakdown per company?
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