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contact Mark Brandau to dive deeper: // unit closure tracking based on official company releases, to be updated weekly. TOP 250 CHAIN UPDATES (05.28.20) [email protected] / 847.505.9460 INDUSTRY BREAKDOWN: WEEKLY UPDATES (05.15-05.29): Quick-Service 111 • More full-service chains have started or continued their reopening processes, such as: Red Lobster (361 locations with open dining rooms), P. F. Chang’s (63 locations open for dine-in), 81% Fast Casual 47 Golden Corral, Perkins, First Watch, Huddle House, Hooters, Buffalo Wild Wings, and Texas Roadhouse. Bloomin’ Brands (Outback, Carrabba’s, Bonefish Grill) has also reopened a Casual Dining 29 significant portion of its dining rooms. Midscale 16 • At its lowest, Dunkin’s same-store-sales was down by 30%, but they’re back up to a decline of 19% 20-25%. Since the start of the pandemic, roughly 1000 Dunkin’ and Baskin-Robbins locations Fine Dining 1 have been closed. A few dining rooms may open for several weeks in June in states with fewer restrictions, and closely-monitored results will inform the rest of Dunkin’s reopening journey. • Starbucks has recently regained between 60-65% of its prior-year domestic sales levels, and CHAINS THAT HAVE CLOSED CHAINS THAT HAVE NOT CLOSED 80% of its Chinese market sales. The chain plans to lean heavily on “on-the-go” and pickup- UNITS SINCE COVID-19 UNITS SINCE COVID-19 only formats. Store hours may reduce going forward, as will hours for employees, though the chain will extend its unpaid leave policy and emergency healthcare benefits until September. • As of May 17, 49% of Darden Restaurants’ dining rooms were reopened, and the chain expects 26 SEGMENT BREAKDOWN: this figure to rise to 65% by end of May. Between the end of Q4 and May 17, average SSS 33 across all brands declined by -47.9%, though it has gradually improved over the last 5 weeks, 25 with Olive Garden looking the most promising. The company’s weekly cash burn rate improved 21 CLOSED UNITS 27 16 to less than $10m, and it has already repaid is $750m credit facility at the start of May. 26 24 TOTAL UNITS • In its most recent 8-K filing, Restaurant Brands International revealed improvements in 16 14 11 comparable sales for all 3 of its flagship brands (Tim Horton’s, Burger King, Popeyes); Popeyes’ 11 10 10 17 16 16 sales especially were trending in positive low-forties, up from flat in mid-March. All RBI 14 14 9 13 6 restaurants in home markets remain open in limited service models, and the company expects 10 7 6 5 8 5 to continue its reopening process in a measured, careful fashion. 7 7 6 3 2 1 5 • Judging by their recent financial results, established LSR Pizza chains have thrived in the age of 3 2 2 off-premise dining: Domino’s U.S. sales results “accelerated materially” (+20.9%) in the second half of Q2, and Papa John’s recently saw its best sales period in the company’s history for the second straight month (+33.5% for system-wide U.S. restaurants). Their international divisions, however, have not seen the same success: 320 Papa John’s and 900 Domino’s international units remain closed, at least for the near term. FSR Pizza LSR Pizza LSR Other LSR Asian LSR FSR Buffet FSR FSR Italian FSR LSR Coffee LSR LSR BurgerLSR LSR DessertLSR LSR Chicken LSR • Le Pain Quotidien filed for bankruptcy this week, and all 98 temporarily-closed domestic units LSR Mexican FSR American LSR Sandwich FSR Sports Bar Sports FSR have been sold to Aurify Brands LLC. If the deal is approved, Aurify plans to reopen at least 35 LSR Bakery-Café LSR FSR Family Dining Family FSR locations. No buyer has been found for the chain’s European operations. FSR Seafood/Steak LSR Salad/Healthful LSR FSR Regional-Ethnic FSR contact Mark Brandau to dive deeper: // orange text indicates chains with announced unit closures. TOP 250 CHAIN UPDATES (05.28.20) [email protected] / 847.505.9460 LSR ASIAN: Freddy's Frozen Custard & Krispy Kreme Kilwin’s Chocolates Blaze Pizza Potbelly Panda Express Steakburgers Shipley Do-Nuts Orange Leaf Sbarro McAlister's Deli Sarku Japan In-N-Out Burger Coffee Bean And Tea Leaf Bahama Buck's Pizza Ranch Which Wich Genji Smashburger Peet's Coffee & Tea Nestle Tollhouse Mountain Mike's Pizza Wienerschnitzel Flame Broiler Krystal Scooter's Coffeehouse Fox's Pizza Den Quiznos Subs Waba Grill The Habit Burger Grill Biggby Coffee LSR MEXICAN: Donatos Penn Station East Coast Subs Pei Wei Cook Out Kung Fu Tea Taco Bell Simple Simon's Pizza Jason's Deli Yoshinoya Burgerim Honey Dew Donuts Chipotle Pizza Pro Nathan's Famous Bonchon Chicken Jack's Family Restaurants Pj's Coffee Qdoba Villa Italian Kitchen Blimpie Shake Shack Donut Connection Moe's Southwest Grill Rosati's Authentic Italian Pizza Togo's LSR BAKERY-CAFE: Wayback Burgers Human Bean Del Taco Pizza Inn American Deli Panera Bread Burger Fi El Pollo Loco Mama DeLuca’s Chicken Salad Chick Einstein Brothers Farmer Boys Restaurant LSR DESSERT-SNACK: Taco John's Pieology Port Of Subs Schlotzsky’s Dairy Queen Rubio's Coastal Grill Mazzio’s Italian Eatery Mr. Hero Bruegger's LSR CHICKEN: Baskin-Robbins Taco Cabana Ledo Pizza Winchell's Donut House Great Harvest Bread Co. KFC Auntie Anne's Fuzzy's Taco Shop Pizza Factory Erbert & Gerbert's Subs & Club Corner Bakery Chick-Fil-A Cold Stone Creamery Taco Bueno Giovanni's Pizza Power Capriotti’s Au Bon Pain Popeye's Cinnabon Baja Fresh Peter Piper Pizza Cousins Subs Newk’s Eatery Wingstop Rita's Ice Cafe Rio Imo’s Pizza Le Pain Quotidien Church's Chicken Menchie’s Tijuana Flats Burrito Co Pizza Patron LSR OTHER: Pret A Manger Zaxby's Great American Cookie Co Taco Time Long John Silver's Bojangles' Carvel Costa Vida LSR SALAD-HEALTHFUL: Captain D's LSR BURGER: Raising Canes Sweet Frog Premium Frozen Smoothie King Dickey's Barbecue Pit McDonald's Boston Market Yogurt LSR PIZZA: Tropical Smoothie Cafe Noodles & Co. Burger King Chicken Express Yogurtland Pizza Hut Jamba Juice Zoës Kitchen Wendy's Golden Chick Wetzel's Pretzels Domino's Pizza Sweetgreen Fazoli's Sonic Drive-In Pollo Tropical Marble Slab Creamery Little Caesars Planet Smoothie L & L Hawaiian Barbecue Jack In The Box Lee's Famous Recipe Chicken TCBY Papa John's Nekter Juice Bar Pita Pit Hardee's Louisiana Famous Fried Chicken Haagen-Dazs Ice Cream Papa Murphy's Freshii Skyline Chili Five Guys Tutti Frutti Frozen Yogurt Marco's Pizza Golden Krust Carl's Jr. LSR COFFEE: Pelican's Snoballs Hungry Howie's LSR SANDWICH-DELI: Ono Hawaiian BBQ Checkers And Rally's Starbucks Bruster's Real Ice Cream Chuck E. Cheese Subway Taziki's Whataburger Dunkin' Pretzel Maker Godfather's Pizza Arby's Cava Grill Culver's Tim Horton's Insomnia Cookies Mod Pizza Jimmy John's A&W Caribou Coffee Philly Pretzel Factory Round Table Jersey Mike's Steak N Shake Daylight Donuts Ben & Jerry's Cici's Pizza Firehouse Subs White Castle Dutch Bros Coffee Mrs. Fields Jet’s Pizza Charley's Philly Steaks contact Mark Brandau to dive deeper: // orange text indicates chains with announced unit closures. TOP 250 CHAIN UPDATES (05.28.20) [email protected] / 847.505.9460 FSR AMERICAN: FSR FAMILY DINING: FSR ITALIAN: FSR SPORTS BAR: Applebee's Waffle House Olive Garden Buffalo Wild Wings Chili's IHOP Carrabba’s Hooters Red Robin Denny's Beef ‘O’ Brady's Ruby Tuesday Cracker Barrel FSR PIZZA: Dave & Busters TGI Fridays Bob Evans Mellow Mushroom Miller's Ale House BJ's First Watch California Pizza Kitchen Cheesecake Factory Huddle House Old Chicago Pizza FSR REGIONAL-ETHNIC: O'Charley's Perkins P.F. Chang's Cheddar's Scratch Kitchen Braum's FSR SEAFOOD-STEAK: On The Border Johnny Rockets Big Boy/Frisch's Outback Famous Dave's Hwy 55 Burgers, Shakes & Fries Friendly’s Red Lobster Chuy's Restaurant Fuddruckers Village Inn Texas Roadhouse Melting Pot Restaurant Ninety Nine Restaurant And Pub Original Pancake House Longhorn Steakhouse Sonny's BBQ Bar Louie Black Bear Diner Logan's Roadhouse Shoney’s Bonefish Grill FSR BUFFET-CAFETERIA: Shari’s Ruth's Chris Steak House Golden Corral Sizzler.