Casual Dining Slides While Quick Service Shows Resilience
The Casual Dining Restaurant segment saw a -5.6% decrease in sales for the second week of December compared to the same week last year. The 4-week moving average rate of sales change slowed by 170 basis points to -4.2% over that period.
For the Quick Service Restaurant segment, there was a -3.9% drop in sales for the second week of December versus the same week in the prior year. The 4-week moving average rate of sales change decelerated by 50 basis points to -2.0% over the same timeframe.
McDonald's Traffic Woes Come Back After Brief November Reprieve
McDonald's traffic declined -11.4% in October 2023 compared to October 2022. Traffic trends then improved in November 2023, with a smaller decrease of -4.3% versus the prior year. However, McDonald's traffic started to slide again in early December, falling -7.2% for the start of the month year-over-year.
Starbucks Discount Deals Rise Amid Uncertain Traffic
Starbucks traffic was up 5.4% in October 2023 compared to October 2022. However, traffic then plunged in November 2023, falling -7.1% year-over-year. So far in December, traffic trends have improved slightly, with Starbucks down just -0.8% in the early part of the month versus the same period last year.
