Important lessons from the US foodservice market

Looking at US sales in Q1 2025, Wingstop with a 15.7% increase in US system sales and Taco Bell at 11% displayed genuine growth. On the other hand, Pizza Hut suffered a -7% nominal decline (-11% contraction in real terms). KFC and Wendy's experienced nominal declines of -2% and -2.6% respectively, translating to real declines of roughly -6%. Even highly regarded Sweetgreen saw a -3.1% drop in same store sales in Q1.

This most recent round of reported figures from these and other restaurant companies shows that, despite positive nominal growth of perhaps just 0.9% in Q1 2025, most operators experienced real-term declines against inflation, with only some select QSR chains showing genuine growth.

Read the full story to understand where the bright spots are.