Food Inflation
Food at home vs. away from home differential widened to 3.1% in March from 1.9% in February.
Menu price inflation hit a fresh 40-year high in March as operators continued raising prices to adjust for their inflation. According to the Bureau of Labor Statistics, food-away-from-home inflation rose 6.9% YoY last month - that was the most significant 12-month increase since December 1981. Yet that also includes decreases in prices at foodservice places, notably schools, where free lunch programs remain widespread. Menu-price inflation at full-service restaurants increased 8% year-over-year in March, surpassing the 7.2% increase at limited-service restaurants.
KNAPP February
MARCH 2022 CASUAL DINING ESTIMATES USING THE COMPARISON 2022 VS. 2021. The month was driven by California, which is anet positive for CAKE.
COMPARABLE SALES COMPARABLE GUEST COUNTS
USA 8.1% 2.0%
CALIFORNIA 40.0% 27.1%
TEXAS 0.4% -4.9%
FLORIDA 10.3% 4.9%
The combined first two weeks of MARCH 2022 vs. the first two weeks of MARCH 2021 are Comp sales results: 14.3% and guest count results 6.9%. The combined last two weeks of MARCH 2022 vs. the last two weeks of MARCH 2021 are comp sales result: 2.8% and guest count result: -2.3%.
Just Eat ousts a third of its salaried delivery workers
Le Figaro
The CEO of Just Eat has always said it was possible to earn money by employing salaried delivery people instead of Uber Eats and Deliveroo, who only rely on self-employed deliverers. No surprise, TKWY CEO was wrong!