1508 ET - Inflation-weary consumers are starting to eat out at restaurants more often, but they're much more likely to go to Shake Shack than Dave & Buster's, Truist analysts say in a research note, citing data from the firm's payment cards. Recent trends have been choppy but encouraging, they say, with data pointing to mostly in-line or better-than-expected 4Q sales at participating covered companies. Data shows that Shake Shack's sales have accelerated since October, when the burger chain posted same-store sales up 4.5%. Texas Roadhouse, Cracker Barrel and Darden Restaurants also look to be on pace for same-store sales growth in 4Q, analysts say. On the other hand, data shows that Denny's and Dave & Buster's risk stagnant same-store sales and continued traffic declines, respectively. (connor.hart@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 15:08 ET (20:08 GMT)
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