Evercore Consumer & Retail Conference Takeaways

Research evidence excerpt

Evercore Consumer & Retail Conference Takeaways

Consumer | Food & Restaurants

June 11, 2026

David Palmer Evercore Consumer & Retail Conference

212-497-0836

David.Palmer@evercoreisi.com Takeaways

John Quartarolo, CFA We have substantially wrapped up our Food and Restaurants meetings

646-784-4638 and presentations at the 6th Annual Evercore Consumer & Retail

john.quartarolo@evercoreisi.com Conference. We were pleased to welcome McDonald’s (MCD),

Elliott Simon, CFA Starbucks (SBUX), Texas Roadhouse (TXRH), Brinker

212-497-0820 International (EAT), Domino’s (DPZ), Hershey (HSY), Campbell’s

Elliott.Simon@evercoreisi.com (CPB), Post Holdings (POST), and B&G Foods (BGS). We also

James Donnelly enjoyed hosting special presentations on topics spanning restaurants

212-812-2904 in the age of AI and the K-economy, the search for profitable growth in

James.Donnelly@evercoreisi.com

food and beverage, and the impact of GLP-1s. These discussions

reinforced the questions and megatrends surrounding our two sectors,

including:

◼ Big Food is often losing its battle with small brands for market

share while facing an energy-related inflation cliff ahead (that could

push input cost inflation to MSD+ by 2027).

◼ Consumers are reducing food calories consumed—often at the

expense of carb/sugar-dense foods and to the benefit of protein-

rich and energy beverages... and GLP-1 drugs are only part of this

trend.

◼ The K-economy is real and so is the young generation recession,

with virtually all US restaurant demand growth happening with the

55+ age group.

◼ Casual dining chain winners (e.g., TXRH, EAT, DRI) continue to

be well-positioned with the right value perception and consumer

exposure, but perhaps have a bit more commodity headwinds to

consider today.