US Restaurants "Highlights from Expert Call on Restaurant Traffic" Geiger

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US Restaurants "Highlights from Expert Call on Restaurant Traffic" Geiger

Global Research

7 June 2026ab

US Restaurants Equities

AmericasHighlights from Expert Call on Restaurant Traffic

Restaurants

Dennis Geiger, CFA

Restaurant trends slowed 2QTD; Drive-thru coffee continues to grow Analyst

We recently hosted a call with an industry expert to discuss: i) key takeaways from 1Q dennis.geiger@ubs.com

results and observations thus far into 2Q, ii) learnings from the National Restaurant +1-212-713 9313

Association show, and a iii) closer look into the coffee market competitive landscape and Mark Carden

market shifts. Overall, the expert noted that performance bifurcation remained Analyst

significant through 1Q, with the strong brands continuing to maintain momentum, mark.carden@ubs.com

while independent full service restaurant outperformance accelerated during the +1-212-713 3218

quarter. However, trends have decelerated since Mid-April as benefits from tax refunds Paul Hao

faded and gas prices stayed elevated. Our expert also indicated that drive-thru focused Associate Analyst

coffee concepts were not encroaching on traditional coffee houses (or vice versa), with paul.hao@ubs.com

the unique menu offerings and service models from drive-thru concepts likely adding +1-201-352 1091

consumer occasions and growing the overall coffee segment market. Presentation slides Nikhil Gunderia

and call replay are available upon request. Associate Analyst

nikhil.gunderia@ubs.com

Other Key Takeaways: +1-212-713 3258

Independent full-service outperforming - Trends at full service national brands Emily Li

slowed sequentially, according to the expert. However, independent full service Associate Analyst

restaurants appeared to be outperforming national brands, as the smaller emily.li@ubs.com