{"id":15660,"date":"2025-09-23T10:53:48","date_gmt":"2025-09-23T10:53:48","guid":{"rendered":"https:\/\/www.paperchase.ac\/?p=15660"},"modified":"2026-02-27T09:12:14","modified_gmt":"2026-02-27T09:12:14","slug":"the-perfect-plate-2025-q2-and-august-update","status":"publish","type":"post","link":"https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/","title":{"rendered":"The Perfect Plate \u2013 2025 Q2 and August Update\u00a0"},"content":{"rendered":"\n\n\t<section class=\"section casestudy__fm-section\" id=\"section_155871476\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t<img decoding=\"async\" width=\"2346\" height=\"1146\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2026\/02\/Image-1.jpg\" class=\"bg attachment-original size-original\" alt=\"Image 1\" \/>\t\t\t\t\t\t<div class=\"section-bg-overlay absolute fill\"><\/div>\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row align-center\"  id=\"row-521355672\">\n\n\n\t<div id=\"col-1038236260\" class=\"col medium-10 small-12 large-10\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-1372405348\" class=\"text casestudy__heading\">\n\t\t\n\n<h1><span class=\"ez-toc-section\" id=\"The_Perfect_Plate_%E2%80%93_2025_Q2_and_August_Update\"><\/span>The Perfect Plate \u2013 2025 Q2 and August Update<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\t\t\n<style>\n#text-1372405348 {\n  text-align: center;\n  color: rgb(255, 255, 255);\n}\n#text-1372405348 > * {\n  color: rgb(255, 255, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-261911279\" class=\"text\">\n\t\t\n\n<p>2025 has seen stronger sales performance for Full Service and Fine Dining concepts compared to QSR and Fast Casual.<\/p>\n\n\t\t\n<style>\n#text-261911279 {\n  text-align: center;\n  color: rgb(255, 255, 255);\n}\n#text-261911279 > * {\n  color: rgb(255, 255, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_155871476 {\n  padding-top: 30px;\n  padding-bottom: 30px;\n  min-height: 450px;\n}\n#section_155871476 .section-bg-overlay {\n  background-color: rgba(57, 0, 119, 0.5);\n}\n#section_155871476 .section-bg img {\n  object-position: 50% 100%;\n}\n@media (min-width:550px) {\n  #section_155871476 {\n    min-height: 600px;\n  }\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section newsletter-post-single-page\" id=\"section_2002902325\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-778982696\">\n\n\n\t<div id=\"col-260274922\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"gap-1211317422\" class=\"gap-element clearfix hide-for-small\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1211317422 {\n  padding-top: 70px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2870258098\" class=\"text hidden\">\n\t\t\n\n<h1><span class=\"ez-toc-section\" id=\"The_Perfect_Plate_%E2%80%93_2025_Q2_and_August_Update-2\"><\/span>The Perfect Plate \u2013 2025 Q2 and August Update<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\t\t\n<style>\n#text-2870258098 {\n  text-align: left;\n  color: rgb(0, 0, 0);\n}\n#text-2870258098 > * {\n  color: rgb(0, 0, 0);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3017460853\" class=\"text subtitle-newsletter hidden\">\n\t\t\n\n<p>Every month, we\u2019ll provide updates on the latest trends in the restaurant industry. We\u2019ll include financial insights, charts, and public market comps.\n<\/p>\n\t\t\n<style>\n#text-3017460853 {\n  text-align: left;\n  color: rgb(0, 0, 0);\n}\n#text-3017460853 > * {\n  color: rgb(0, 0, 0);\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-equal align-center\"  id=\"row-1298026017\">\n\n\n\t<div id=\"col-1452436954\" class=\"col medium-8 small-12 large-3\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-22469090\" class=\"text author-box-newsletter\">\n\t\t\n\n<p><img decoding=\"async\" class=\"newsletter-author-img\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/03\/DIMITRE-KROUCHEV_-Head-Shot.png\" alt=\"Paperchase\"><\/p>\n<p class=\"newsletter-author\">By <a href=\"https:\/\/www.paperchase.ac\/dimitre-krouchev\/\">Dimitre Krouchev<\/a><\/p>\n\t\t\n<style>\n#text-22469090 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-834349085\" class=\"col medium-8 small-12 large-3\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<div class=\"social-icons share-icons share-row relative full-width text-right icon-style-outline\" style=\"font-size:80%\"><a href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/\" data-label=\"Facebook\" onclick=\"window.open(this.href,this.title,'width=500,height=500,top=300px,left=300px'); return false;\" target=\"_blank\" class=\"icon button circle is-outline tooltip facebook\" title=\"Share on Facebook\" aria-label=\"Share on Facebook\" rel=\"noopener nofollow\"><i class=\"icon-facebook\" aria-hidden=\"true\"><\/i><\/a><a href=\"https:\/\/x.com\/share?url=https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/\" onclick=\"window.open(this.href,this.title,'width=500,height=500,top=300px,left=300px'); return false;\" target=\"_blank\" class=\"icon button circle is-outline tooltip x\" title=\"Share on X\" aria-label=\"Share on X\" rel=\"noopener nofollow\"><i class=\"icon-x\" aria-hidden=\"true\"><\/i><\/a><a href=\"mailto:?subject=The%20Perfect%20Plate%20%E2%80%93%202025%20Q2%20and%20August%20Update%C2%A0&body=Check%20this%20out%3A%20https%3A%2F%2Fwww.paperchase.ac%2Fnewsletter%2Fthe-perfect-plate-2025-q2-and-august-update%2F\" class=\"icon button circle is-outline tooltip email\" title=\"Email to a Friend\" aria-label=\"Email to a Friend\" rel=\"nofollow\"><i class=\"icon-envelop\" aria-hidden=\"true\"><\/i><\/a><a href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/&title=The%20Perfect%20Plate%20%E2%80%93%202025%20Q2%20and%20August%20Update%C2%A0\" onclick=\"window.open(this.href,this.title,'width=500,height=500,top=300px,left=300px'); return false;\" target=\"_blank\" class=\"icon button circle is-outline tooltip linkedin\" title=\"Share on LinkedIn\" aria-label=\"Share on LinkedIn\" rel=\"noopener nofollow\"><i class=\"icon-linkedin\" aria-hidden=\"true\"><\/i><\/a><\/div>\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\t<div id=\"gap-1769127294\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1769127294 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse\"  id=\"row-858024708\">\n\n\n\t<div id=\"col-1474623960\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<div class=\"text-center\"><div class=\"is-divider divider clearfix\" style=\"margin-top:0px;margin-bottom:0px;max-width:1000px;height:1px;background-color:rgb(57, 0, 119);\"><\/div><\/div>\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\t<div id=\"gap-2033063267\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2033063267 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-39722769\">\n\n\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_2002902325 {\n  padding-top: 0px;\n  padding-bottom: 0px;\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section newsletter-post-single-page\" id=\"section_1246724298\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-992619505\">\n\n\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-900300989\">\n\n\n\t<div id=\"col-1021226677\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-3179016724\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaway_Perceived_Value_as_the_Defining_Factor\"><\/span><span class=\"color_black\">Key Takeaway<\/span> | Perceived Value as the Defining Factor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-3179016724 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-3179016724 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1102101820\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1102101820 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-860827541\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p><b>Overview:<\/b><\/p>\n<p>The first half of 2025 continued to <b>spotlight the power of perceived value<\/b> in the restaurant industry. With people saving more and spending carefully because of inflation and high borrowing costs, restaurants offered clear value, both in price and experience did well. Those that didn\u2019t meet what customers expected saw fewer visitors and lower sales. <\/p>\n<p>Perhaps the key brand that displays this trend the most is <b>Sweetgreen<\/b>, where the price of the salad bowl is starting to measure up to the consumer\u2019s expectations \u2013 they have made corrections to increase portion sizes in an effort to improve guest traffic.<\/p>\n\t\t\n<style>\n#text-860827541 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-221493195\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-221493195 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-945227219\">\n\n\n\t<div id=\"col-1943408656\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-2286760743\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"2025_Q2_Earnings_Report_Summary\"><\/span>2025 Q2 Earnings Report Summary<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-2286760743 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-2286760743 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-458815486\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-458815486 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1078682881\" class=\"text newsletter-txt-li cus-spacing-ul  has_table\">\n\t\t\n\n\n<div class=\"wpdt-c row wpDataTableContainerSimpleTable wpDataTables wpDataTablesWrapper\n wdtscroll\"\n    >\n        <table id=\"wpdtSimpleTable-4\"\n           style=\"border-collapse:collapse;\n                   border-spacing:0px;\"\n           class=\"wpdtSimpleTable wpDataTable\"\n           data-column=\"3\"\n           data-rows=\"13\"\n           data-wpID=\"4\"\n           data-responsive=\"0\"\n           data-has-header=\"0\">\n\n                    <tbody>        <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-bold wpdt-align-left\"\n                                            data-cell-id=\"A1\"\n                    data-col-index=\"0\"\n                    data-row-index=\"0\"\n                    style=\" width:172px;                    padding:10px;\n                    \"\n                    >\n                                        Company                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-bold wpdt-align-left\"\n                                            data-cell-id=\"B1\"\n                    data-col-index=\"1\"\n                    data-row-index=\"0\"\n                    style=\" width:172px;                    padding:10px;\n                    \"\n                    >\n                                        Same Store Sales                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-bold wpdt-align-center\"\n                                            data-cell-id=\"C1\"\n                    data-col-index=\"2\"\n                    data-row-index=\"0\"\n                    style=\" width:172px;                    padding:10px;\n                    \"\n                    >\n                                        Executive Focus                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A2\"\n                    data-col-index=\"0\"\n                    data-row-index=\"1\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Chili's Grill & Bar                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B2\"\n                    data-col-index=\"1\"\n                    data-row-index=\"1\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        23.7%                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C2\"\n                    data-col-index=\"2\"\n                    data-row-index=\"1\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Value meals, traffic surge                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A3\"\n                    data-col-index=\"0\"\n                    data-row-index=\"2\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Dutch Bros                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B3\"\n                    data-col-index=\"1\"\n                    data-row-index=\"2\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        7.8%                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C3\"\n                    data-col-index=\"2\"\n                    data-row-index=\"2\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Loyalty app, new drinks                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A4\"\n                    data-col-index=\"0\"\n                    data-row-index=\"3\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Texas Roadhouse                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B4\"\n                    data-col-index=\"1\"\n                    data-row-index=\"3\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        5.8%                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C4\"\n                    data-col-index=\"2\"\n                    data-row-index=\"3\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Pricing power, strong demand                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A5\"\n                    data-col-index=\"0\"\n                    data-row-index=\"4\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Applebee's                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B5\"\n                    data-col-index=\"1\"\n                    data-row-index=\"4\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        4.9%                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C5\"\n                    data-col-index=\"2\"\n                    data-row-index=\"4\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Promotions, value recovery                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A6\"\n                    data-col-index=\"0\"\n                    data-row-index=\"5\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Cracker Barrel                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B6\"\n                    data-col-index=\"1\"\n                    data-row-index=\"5\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        4.7%                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C6\"\n                    data-col-index=\"2\"\n                    data-row-index=\"5\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Menu updates, traffic lift                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A7\"\n                    data-col-index=\"0\"\n                    data-row-index=\"6\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Taco Bell                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B7\"\n                    data-col-index=\"1\"\n                    data-row-index=\"6\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        4.0%                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C7\"\n                    data-col-index=\"2\"\n                    data-row-index=\"6\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Menu innovation, value promotions                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-bold wpdt-align-left\"\n                                            data-cell-id=\"A8\"\n                    data-col-index=\"0\"\n                    data-row-index=\"7\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Sweetgreen                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left wpdt-bold\"\n                                            data-cell-id=\"B8\"\n                    data-col-index=\"1\"\n                    data-row-index=\"7\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        (7.6%)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left wpdt-bold\"\n                                            data-cell-id=\"C8\"\n                    data-col-index=\"2\"\n                    data-row-index=\"7\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Operational reset, guest experience focus                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A9\"\n                    data-col-index=\"0\"\n                    data-row-index=\"8\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Bonefish Grill                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B9\"\n                    data-col-index=\"1\"\n                    data-row-index=\"8\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        (5.8%)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C9\"\n                    data-col-index=\"2\"\n                    data-row-index=\"8\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Weak traffic, value gaps                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A10\"\n                    data-col-index=\"0\"\n                    data-row-index=\"9\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        KFC                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B10\"\n                    data-col-index=\"1\"\n                    data-row-index=\"9\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        (5.0%)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C10\"\n                    data-col-index=\"2\"\n                    data-row-index=\"9\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Competition, weak promos                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A11\"\n                    data-col-index=\"0\"\n                    data-row-index=\"10\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Pizza Hut                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B11\"\n                    data-col-index=\"1\"\n                    data-row-index=\"10\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        (5.0%)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C11\"\n                    data-col-index=\"2\"\n                    data-row-index=\"10\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Value messaging struggles                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A12\"\n                    data-col-index=\"0\"\n                    data-row-index=\"11\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Jack in the Box                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B12\"\n                    data-col-index=\"1\"\n                    data-row-index=\"11\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        (4.4%)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C12\"\n                    data-col-index=\"2\"\n                    data-row-index=\"11\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Traffic declines                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A13\"\n                    data-col-index=\"0\"\n                    data-row-index=\"12\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        The ONE Group (STK)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"B13\"\n                    data-col-index=\"1\"\n                    data-row-index=\"12\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        (4.9%)                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"C13\"\n                    data-col-index=\"2\"\n                    data-row-index=\"12\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Transaction growth offset by sales decline                    <\/td>\n                                        <\/tr>\n                    <\/table>\n<\/div><style id='wpdt-custom-style-4'>\n<\/style>\n\n\t\t\n<style>\n#text-1078682881 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-429231228\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-429231228 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-692851156\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p>We found this <a href=\"https:\/\/www.restaurantdive.com\/news\/h1-2025-restaurant-winners-losers-chilis-sweetgreen-mcdonalds-kfc\/758553\/?utm_source=Sailthru&#038;utm_medium=email&#038;utm_campaign=Newsletter%20Weekly%20Roundup:%20Restaurant%20Dive:%20Daily%20Dive%2008-30-2025&#038;utm_term=Restaurant%20Dive%20Weekender\" target=\"_blank\" rel=\"noopener\">article<\/a> from Restaurant Dive very insightful, and we\u2019re seeing the same trend among our clients who deliver strong value for their menu price points. The piece highlights that in the first half of 2025, customer perception of value has become the biggest factor in whether they choose to dine out.<\/p>\n\t\t\n<style>\n#text-692851156 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-1961497689\">\n\n\n\t<div id=\"col-2067999154\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"gap-2083334236\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2083334236 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-5793620\" class=\"text cus-spacing-h2 has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"H1_2025_Winners_Value-First_Operators\"><\/span>H1 2025 Winners: Value-First Operators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-5793620 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-5793620 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-69956538\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-69956538 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2408160078\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<ul>\n<li><b>Chili\u2019s<\/b> was the standout, achieving <b>a 23% same-store sales<\/b> gain, fueled by value-driven promotions, operational investments (e.g., TurboChef ovens), and traffic growth.<\/li>\n<li><b>Taco Bell (+4%)<\/b> leveraged an aggressive value strategy, menu innovation, and loyalty program growth to sustain momentum.<\/li>\n<li><b>Potbelly (+3%)<\/b> benefitted from positive traffic trends and new unit expansion, outperforming the fast-casual segment.<\/li>\n<li><b>McDonalds (U.S.) (+2.5%)<\/b> stabilized growth through menu innovation, value platforms, and loyalty programs.<\/li>\n<li><b>Applebee\u2019s, Dominos, Papa Johns, Burger King, and Olive Garden<\/b> also delivered positive results by combining pricing alignment, operational improvements, and menu or loyalty enhancements.<\/li>\n<\/ul>\n\t\t\n<style>\n#text-2408160078 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-1762158674\">\n\n\n\t<div id=\"col-1167642486\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-3828046033\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"H1_2025_Losers_Value_Perception_Challenges\"><\/span>H1 2025 Losers: Value Perception Challenges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-3828046033 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-3828046033 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1774134345\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1774134345 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2678012387\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<ul>\n<li><b>Sweetgreen (-7.6%)<\/b> saw declining traffic as customers questioned the value vs. price of its offerings.<\/li>\n<li><b>Chipotle (-4%)<\/b> faced weaker transactions despite higher average checks, highlighting gaps in perceived value.<\/li>\n<\/ul>\n\t\t\n<style>\n#text-2678012387 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1102018208\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1102018208 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2302000029\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Trailing_5-Quarter_SSS_Performance_by_Category_Segment\"><\/span>Trailing 5-Quarter SSS % Performance by Category Segment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-2302000029 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-2302000029 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-72505846\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-72505846 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3858154150\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p><b>2025<\/b> has seen <b>stronger sales performance for Full Service and Fine Dining concepts<\/b> compared to QSR and Fast Casual.<\/p>\n<p><b>Consumers<\/b> have shown some <b>spending fatigue<\/b> for the <b>\u2018bowl concepts\u2019 and<\/b> have generally opted to allocate <b>more spend to the restaurant experience<\/b> which is only at a slightly higher price point.<\/p>\n\t\t\n<style>\n#text-3858154150 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-555601924\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-555601924 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_1198960147\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1732\" height=\"584\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-1.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 1\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-1.png 1732w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-1-300x101.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-1-1024x345.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-1-768x259.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-1-1536x518.png 1536w\" sizes=\"(max-width: 1732px) 100vw, 1732px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_1198960147 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_2015876332\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1718\" height=\"650\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-2.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 2\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-2.png 1718w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-2-300x114.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-2-1024x387.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-2-768x291.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-2-1536x581.png 1536w\" sizes=\"(max-width: 1718px) 100vw, 1718px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_2015876332 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_877885293\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1192\" height=\"576\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-3.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 3\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-3.png 1192w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-3-300x145.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-3-1024x495.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-3-768x371.png 768w\" sizes=\"(max-width: 1192px) 100vw, 1192px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_877885293 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-635808889\">\n\n\n\t<div id=\"col-613989418\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-419990369\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Public_Market_Top_10_for_the_Week\"><\/span>Public Market Top 10 for the Week <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-419990369 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-419990369 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1133603751\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1133603751 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-34413268\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p>Denny&#8217;s leads the top 10 for the week ending Friday, 15 August 2025.<\/p>\n\t\t\n<style>\n#text-34413268 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_1148916713\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1698\" height=\"712\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-4.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 4\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-4.png 1698w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-4-300x126.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-4-1024x429.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-4-768x322.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-4-1536x644.png 1536w\" sizes=\"(max-width: 1698px) 100vw, 1698px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_1148916713 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3569378226\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Public_Market_Summary_for_YTD_Returns\"><\/span>Public Market Summary for YTD Returns <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-3569378226 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-3569378226 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1032847746\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1032847746 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_23217147\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1906\" height=\"1064\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/05\/Perfect-Plate-Paperchase-Q1_2025_2.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate Paperchase Q1 2025 2\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/05\/Perfect-Plate-Paperchase-Q1_2025_2.png 1906w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/05\/Perfect-Plate-Paperchase-Q1_2025_2-300x167.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/05\/Perfect-Plate-Paperchase-Q1_2025_2-1024x572.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/05\/Perfect-Plate-Paperchase-Q1_2025_2-768x429.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/05\/Perfect-Plate-Paperchase-Q1_2025_2-1536x857.png 1536w\" sizes=\"(max-width: 1906px) 100vw, 1906px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_23217147 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-1751165165\">\n\n\n\t<div id=\"col-373809379\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-4219141810\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Our_Top_Article_Choices\"><\/span>Our Top Article Choices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-4219141810 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-4219141810 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-711366337\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-711366337 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3901782759\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<ul>\n<li>NRA: Economic Indicators &#8211; Same-store sales and customer traffic &#8211; <a href=\"https:\/\/restaurant.org\/research-and-media\/research\/restaurant-economic-insights\/economic-indicators\/same-store-sales-and-customer-traffic\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>8 restaurant trends to watch in 2025 &#8211; <a href=\"https:\/\/www.restaurantdive.com\/news\/8-restaurant-industry-trends-to-watch-in-2025\/736408\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Chipotle\u2019s Comparable Sales Dropped Year Over Year\u2026 &#8211; <a href=\"https:\/\/www.barrons.com\/articles\/chipotle-stock-price-earnings-news-3ee84fd2?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Toast Data: Reservation trends shift to slower days and early dinners &#8211; <a href=\"https:\/\/pos.toasttab.com\/news\/2024-reservation-trends\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>WSJ \u2013 Are value meals worth it for restaurants? \u2013 <a href=\"https:\/\/www.wsj.com\/business\/hospitality\/fast-food-discounts-value-meals-customers-59cf6198?mod=hospitality_more_article_pos9\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<\/ul>\n\t\t\n<style>\n#text-3901782759 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-692875492\">\n\n\n\t<div id=\"col-392469092\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-330026762\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Deal_Making_Transaction_Activity\"><\/span>Deal Making: Transaction Activity<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-330026762 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-330026762 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1311390674\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1311390674 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1591105434\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"M_A_in_2024_Q4_%E2%80%93_2025_Q1\"><\/span>M&#038;A in 2024 Q4 \u2013 2025 Q1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-1591105434 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-91638481\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-91638481 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-128621870\" class=\"text newsletter-txt-li cus-spacing-ul inner_lists\">\n\t\t\n\n<ul>\n<li>DoorDash Expands with Deliveroo and SevenRooms Acquisitions &#8211; <a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noopener\">Link<\/a>\n<ul>\n<li>Deliveroo &#8211; Deal Value: $3.9 billion\n<ul>\n<li>Details: DoorDash announced its acquisition of U.K.-based food delivery service Deliveroo,<br \/>\n                        enhancing its international presence.<\/li>\n<\/ul>\n<\/li>\n<li>SevenRooms &#8211; Deal Value: $1.2 billion<\/li>\n<\/ul>\n<\/li>\n<li>Wonder to acquire Grubhub for $650m &#8211; <a href=\"https:\/\/www.restaurantdive.com\/news\/wonder-buys-grubhub-650m\/732763\/\" target=\"_blank\" rel=\"noopener\">Link<\/a>\n    <\/li>\n<li>TGI Fridays Sells Corporate-Owned Locations Amid Bankruptcy &#8211; <a href=\"https:\/\/www.reuters.com\/legal\/litigation\/tgi-fridays-gets-bankruptcy-court-approval-sell-9-locations-2025-01-02\/?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noopener\">Link<\/a>\n<ul>\n<li>TGI Fridays received court approval to sell nine of its 39 corporate-owned locations to<br \/>\n                Mexico-based<br \/>\n                MERA for $34.5 million, as part of its bankruptcy proceedings.<\/li>\n<\/ul>\n<\/li>\n<li>Jersey Mike\u2019s has agreed to sell a majority stake to Blackstone &#8211; <a href=\"https:\/\/www.restaurantdive.com\/news\/jersey-mikes-sells-majority-ownership-stake-blackstone\/733301\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Bojangles Explores Potential $1.5B Sale &#8211; <a href=\"https:\/\/www.wsj.com\/business\/deals\/bojangles-is-exploring-a-sale-while-the-fried-chicken-market-is-hot-5cc6fb9e\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Pappas Restaurants Acquires On The Border Out of Bankruptcy- <a href=\"https:\/\/www.restaurantdive.com\/news\/pappas-restaurants-buys-on-the-border-mexican-grill-cantina-out-bankruptcy\/747469\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Dine Brands Global Acquires 59 Applebee\u2019s and 10 IHOP Locations- <a href=\"https:\/\/investors.dinebrands.com\/news-releases\/news-release-details\/dine-brands-global-inc-reports-second-quarter-2025-results?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Apollo Global Management and Irth Capital have proposed to take Papa John&#8217;s private in a deal valued at approximately $2 billion &#8211; <a href=\"https:\/\/www.reuters.com\/business\/finance\/apollo-irth-capital-made-an-offer-buy-papa-johns-sources-say-2025-06-11\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<\/ul>\n\t\t\n<style>\n#text-128621870 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-127612969\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-127612969 {\n  padding-top: 20px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1048164866\" class=\"text img-source-txt text-left\">\n\t\t\n\n<p><em><strong>Source: <a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\">Restaurant Mergers &#038; Acquisitions | Restaurant Dive<\/a><\/strong><\/em><\/p>\n\t\t\n<style>\n#text-1048164866 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-973430228\">\n\n\n\t<div id=\"col-1899724685\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-1155364417\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Market_Update_Public_Comps\"><\/span>Market Update: Public Comps<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-1155364417 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-1155364417 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1135302360\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1135302360 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-4246834259\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p>Week Ending | 15\/08\/2025<\/p>\n\t\t\n<style>\n#text-4246834259 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-1376371107\">\n\n\n\t<div id=\"col-1674176672\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"gap-1654367551\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1654367551 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-539028884\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"Top_10_Monthly_Price_Movements\"><\/span>Top 10 Monthly Price Movements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-539028884 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-774841544\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-774841544 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3536731766\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p>The last 30-day performance had an average of 1.9% for the Top 10.<\/p>\n\t\t\n<style>\n#text-3536731766 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_697545464\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1634\" height=\"770\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-6.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 6\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-6.png 1634w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-6-300x141.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-6-1024x483.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-6-768x362.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-6-1536x724.png 1536w\" sizes=\"(max-width: 1634px) 100vw, 1634px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_697545464 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-27707947\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"Top_10_Enterprise_Value_EV_NTM_Revenue_Multiples\"><\/span>Top 10 Enterprise Value [EV] \/ NTM Revenue Multiples<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-27707947 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-2110694201\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2110694201 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1856791031\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p>The top 10 is made up of mostly Franchisor entities, which have higher multiples than company owned concepts. Consensus revenue growth forecasts estimate ~12.5% growth into 2025. The growth guidance is attributable to store growth and price increases.<\/p>\n\t\t\n<style>\n#text-1856791031 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1258082685\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1258082685 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_970934806\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1614\" height=\"676\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-7.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 7\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-7.png 1614w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-7-300x126.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-7-1024x429.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-7-768x322.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-7-1536x643.png 1536w\" sizes=\"(max-width: 1614px) 100vw, 1614px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_970934806 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2393624406\" class=\"text cus-spacing-h2 has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Public_Comps_%E2%80%93_Trends\"><\/span>Public Comps &#8211; Trends<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-2393624406 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-2393624406 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1231077154\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1231077154 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-156255976\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"Trend_%E2%80%93_Enterprise_Value_EV_LTM_Revenue_Multiples\"><\/span>Trend &#8211; Enterprise Value [EV] \/ LTM <u>Revenue<\/u> Multiples <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-156255976 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-2067226406\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2067226406 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_1398502019\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1608\" height=\"552\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-8.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 8\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-8.png 1608w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-8-300x103.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-8-1024x352.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-8-768x264.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-8-1536x527.png 1536w\" sizes=\"(max-width: 1608px) 100vw, 1608px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_1398502019 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-630903192\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-630903192 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-102998373\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"Trend_%E2%80%93_Enterprise_Value_EV_LTM_EBITDA_Multiples\"><\/span>Trend &#8211; Enterprise Value [EV] \/ LTM <u>EBITDA<\/u> Multiples <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-102998373 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-2044852693\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2044852693 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_2023121695\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1626\" height=\"600\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-9.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 9\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-9.png 1626w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-9-300x111.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-9-1024x378.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-9-768x283.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-9-1536x567.png 1536w\" sizes=\"(max-width: 1626px) 100vw, 1626px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_2023121695 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-784911822\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-784911822 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-311950320\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"Revenue_Multiple_Trends\"><\/span>Revenue Multiple Trends<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-311950320 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-131890959\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-131890959 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3071353434\" class=\"text newsletter-txt-li cus-spacing-ul\">\n\t\t\n\n<p>Restaurant businesses are generally valued on multiples of their revenue or EBITDA, depending on their capital structure, growth potential, and franchise model. For example, a McDonald&#8217;s franchise has a higher revenue multiple than a company-owned restaurant chain like Shake Shack.<br \/>\nHere are some of the factors that affect restaurant valuation multiples:<\/p>\n<ul>\n<li><b>Capital structure:<\/b> Businesses with less debt and more equity tend to have higher valuation multiples.\n    <\/li>\n<li><b>Growth potential:<\/b> Businesses with high growth potential tend to have higher valuation multiples.<\/li>\n<li><b>Franchise model:<\/b> Franchise businesses tend to have higher valuation multiples than company-owned businesses.<\/li>\n<\/ul>\n\t\t\n<style>\n#text-3071353434 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1042786980\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1042786980 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_762893555\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1700\" height=\"1152\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-10.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 10\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-10.png 1700w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-10-300x203.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-10-1024x694.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-10-768x520.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-10-1536x1041.png 1536w\" sizes=\"(max-width: 1700px) 100vw, 1700px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_762893555 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-940192207\">\n\n\n\t<div id=\"col-801535187\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"gap-362744273\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-362744273 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1769677664\" class=\"text has_dark-blue\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"EBITDA_Multiple_Trends\"><\/span>EBITDA Multiple Trends<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-1769677664 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-529523562\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-529523562 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_971072393\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"1698\" height=\"1092\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-11.png\" class=\"attachment-original size-original\" alt=\"Perfect Plate 11\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-11.png 1698w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-11-300x193.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-11-1024x659.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-11-768x494.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2025\/09\/Perfect-Plate-11-1536x988.png 1536w\" sizes=\"(max-width: 1698px) 100vw, 1698px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_971072393 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-2116886594\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2116886594 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1767635122\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Sources\"><\/span>Sources<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-1767635122 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-1767635122 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1152155145\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1152155145 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-4190306783\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>TIKR<br \/>\nBloomberg<br \/>\nCompany 10-Q and 10-K Filings<br \/>\nRestaurant Business<\/p>\n\t\t\n<style>\n#text-4190306783 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1230777224\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1230777224 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2095976197\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>Bureau of Labor Statistics (BLS) [bls.gov]\nU.S. Bureau of Economic Analysis (BEA) [bea.gov]\nU.S. Department of Agriculture (USDA) Economic Research Service [ers.usda.gov]\nFederal Reserve Economic Data (FRED) [fred.stlouisfed.org]\nNational Restaurant Association [restaurant.org]\nInternational Monetary Fund (IMF) [imf.org]\n\t\t\n<style>\n#text-2095976197 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1544878605\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1544878605 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-320554325\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-320554325 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-1948192981\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1948192981 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-collapse align-center\"  id=\"row-610922015\">\n\n\n\t<div id=\"col-1972177349\" class=\"col medium-8 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-561827378\" class=\"text has_light-blue\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-561827378 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-561827378 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1529438499\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1529438499 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2244987645\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>The information provided is believed to be from reliable sources, but no liability is accepted for any inaccuracies.  This is for information purposes and should not be construed as an investment recommendation.  Past performance is no guarantee of future performance.<\/p>\n\t\t\n<style>\n#text-2244987645 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-330705414\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-330705414 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1410914345\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>This post and the information presented are intended for informational purposes only. The views expressed herein are the author\u2019s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, timeliness, or completeness of this information. The author and all employers and their affiliated people assume no liability for this information and no obligation to update the information or analysis contained herein in the future.<\/p>\n\t\t\n<style>\n#text-1410914345 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n<div class=\"social-icons share-icons share-row relative share__icon-newsletter icon-style-outline\" ><a href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/\" data-label=\"Facebook\" onclick=\"window.open(this.href,this.title,&#039;width=500,height=500,top=300px,left=300px&#039;); return false;\" target=\"_blank\" class=\"icon button circle is-outline facebook\" title=\"Share on Facebook\" aria-label=\"Share on Facebook\" rel=\"noopener nofollow\"><i class=\"icon-facebook\" aria-hidden=\"true\"><\/i><\/a><a href=\"https:\/\/x.com\/share?url=https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/\" onclick=\"window.open(this.href,this.title,&#039;width=500,height=500,top=300px,left=300px&#039;); return false;\" target=\"_blank\" class=\"icon button circle is-outline x\" title=\"Share on X\" aria-label=\"Share on X\" rel=\"noopener nofollow\"><i class=\"icon-x\" aria-hidden=\"true\"><\/i><\/a><a href=\"mailto:?subject=The%20Perfect%20Plate%20%E2%80%93%202025%20Q2%20and%20August%20Update%C2%A0&body=Check%20this%20out%3A%20https%3A%2F%2Fwww.paperchase.ac%2Fnewsletter%2Fthe-perfect-plate-2025-q2-and-august-update%2F\" class=\"icon button circle is-outline email\" title=\"Email to a Friend\" aria-label=\"Email to a Friend\" rel=\"nofollow\"><i class=\"icon-envelop\" aria-hidden=\"true\"><\/i><\/a><a href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&amp;url=https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-2025-q2-and-august-update\/&amp;title=The%20Perfect%20Plate%20%E2%80%93%202025%20Q2%20and%20August%20Update%C2%A0\" onclick=\"window.open(this.href,this.title,&#039;width=500,height=500,top=300px,left=300px&#039;); return false;\" target=\"_blank\" class=\"icon button circle is-outline linkedin\" title=\"Share on LinkedIn\" aria-label=\"Share on LinkedIn\" rel=\"noopener nofollow\"><i class=\"icon-linkedin\" aria-hidden=\"true\"><\/i><\/a><\/div>\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_1246724298 {\n  padding-top: 0px;\n  padding-bottom: 0px;\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section newsletter-bottom-sec source-disc-sec content_sec\" id=\"section_1228200993\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n\t<div id=\"gap-1171156757\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1171156757 {\n  padding-top: 50px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_1228200993 {\n  padding-top: 0px;\n  padding-bottom: 0px;\n}\n<\/style>\n\t<\/section>\n\t\n\n","protected":false},"excerpt":{"rendered":"<p>2025 has seen stronger sales performance for Full Service and Fine Dining concepts compared to QSR and Fast Casual.<\/p>\n","protected":false},"author":1,"featured_media":15665,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-15660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter"],"_links":{"self":[{"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts\/15660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/comments?post=15660"}],"version-history":[{"count":12,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts\/15660\/revisions"}],"predecessor-version":[{"id":18049,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts\/15660\/revisions\/18049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/media\/15665"}],"wp:attachment":[{"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/media?parent=15660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/categories?post=15660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/tags?post=15660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}