Restaurants Industry: Monthly restaurant spending: June growth slows m/m except QSR, Fast Casual

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Restaurants Industry: Monthly restaurant spending: June growth slows m/m except QSR, Fast Casual

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Restaurants Industry

Monthly restaurant spending: June growth

slows m/m except QSR, Fast Casual

Industry Overview

We note that our monthly aggregate and segment spend estimates use spend data 10 July 2026

based on household samples in the current month (June in this case), while our weekly Equity

segment estimates and monthly income/MSA estimates rely on household samples from United States

the prior month. As a result, there can be slight discrepancies between the estimates, Restaurants

however they are all sequentially consistent.

Aggregate restaurants spend growth slows m/m

According to BAC aggregated credit and debit card data, on a one-year basis, aggregate

restaurant spending growth decelerated m/m to +2.4% in June from +4.4% in May. On a

2-year stacked basis, restaurant spending growth declined m/m to +2.5% in June from

+7.8% in May. Spending growth at restaurant chains decreased to -0.5% in June from

0.2% in May, while spending growth at independent restaurants declined m/m to +3.2%

in June from +5.8% in May. See BofA on USA for methodology, limitations, and Sara Senatore Research Analyst

disclaimers for BAC card data and commentary on broader retail trends from the BofAS

Economics team. +1 646 743 2110 sara.senatore@bofa.com

S/mid coffee sales growth modestly lower in June GraceResearchNguyenAnalyst

Spending growth at small and mid-sized coffee chains decelerated to +21.1% y/y in June BofAS+1 646 855 2849

vs +22.8% in May. grace.nguyen@bofa.com

QSR faster, pizza spend growth more negative

QSR ex-pizza spend was up in June at +1.6% y/y vs +0.3% in May. Pizza spending Definitions