Citi says US restaurant traffic fell 2% in late June

Investing.com -- US restaurant industry foot traffic declined 2.0% year-over-year for the week ended June 28, according to data from Citi, marking a sharper contraction from the prior week's 1.1% decline.

Full-service restaurants posted 1.5% year-over-year growth, improving from the previous week. Limited-service restaurants saw traffic fall 2.8% year-over-year, while fast casual chains grew 2.2% year-over-year.

Among burger chains, McDonald's (NYSE: MCD) traffic fell 3.9% year-over-year, Wendy's (NASDAQ: WEN) dropped 18.1% year-over-year, and Burger King, owned by Restaurant Brands International (NYSE: QSR), declined 0.7% year-over-year.

Popeye's and Taco Bell, owned by QSR and Yum! Brands (NYSE: YUM) respectively, both saw growth accelerate from the prior week. Jack in the Box (NASDAQ: JACK) also posted stronger growth.

Dutch Bros (NYSE: BROS) traffic grew 6.4% year-over-year, KFC traffic fell 7.6% year-over-year, and Starbucks (NASDAQ: SBUX) rose 3.5% year-over-year.

Among full-service restaurants, LongHorn Steakhouse traffic increased 8.2% year-over-year and Olive Garden grew 2.5% year-over-year, both owned by Darden Restaurants (NYSE: DRI). BJ's Restaurants (NASDAQ: BJRI) traffic rose 9.4% year-over-year, Chili's grew 5.6% year-over-year, Cheesecake Factory (NASDAQ: CAKE) increased 4.1% year-over-year, and Texas Roadhouse (NASDAQ: TXRH) grew 4.3% year-over-year. Cracker Barrel (NASDAQ: CBRL) traffic fell 3.1% year-over-year.

Cava Group (NYSE: CAVA) posted the strongest performance with traffic up 23.1% year-over-year. Chipotle Mexican Grill (NYSE: CMG) grew 4.1% year-over-year, while Wingstop (NASDAQ: WING) declined 4.3% year-over-year.

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