Weekly restaurant survey shows stable sales, concerns over Hurricane Ian loom
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According to Baird Real-Time Restaurants Survey reports, for week ended October 9, same-store sales up 6% Y/Y, compares +7% the prior week
Compares overall to +5% in Q3, including +7% in September, +5% in August, +4% in July.
Three-year comparision for our overall sample were +17%, consistent with the prior week and perhaps reflecting lingering headwinds tied to Hurricane Ian.
Sample size of restaurants with $14B or above in annualized sales.
Segment-wise: fast-casual +19%; quick-service +22% and casual dining +2%.

Stocks on the watch: BJ's Restaurants (BJRI); Dutch Bros (BROS); The Cheesecake Factory (CAKE); Chuy's (CHUY); Chipotle Mexican Grill (CMG); Domino's Pizza (DPZ); Darden Restaurants (DRI); Jack in the Box (JACK);El Pollo Loco (LOCO); McDonald's (MCD); Portillo's (PTLO); Restaurant Brands International (QSR); Starbucks (SBUX); Shake Shack (SHAK); Texas RoadHouse (TXRH); Wingstop (WING); Yum! Brands (YUM)