{"id":9116,"date":"2024-07-22T09:03:21","date_gmt":"2024-07-22T09:03:21","guid":{"rendered":"https:\/\/www.paperchase.ac\/?p=9116"},"modified":"2026-02-27T09:24:13","modified_gmt":"2026-02-27T09:24:13","slug":"the-perfect-plate-june-2024","status":"publish","type":"post","link":"https:\/\/www.paperchase.ac\/newsletter\/the-perfect-plate-june-2024\/","title":{"rendered":"The Perfect Plate \u2013 June 2024 &amp; Q2"},"content":{"rendered":"\n\n\t<section class=\"section casestudy__fm-section\" id=\"section_21965759\">\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-396969020\">\n\n\n\t<div id=\"col-639883748\" 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-4013841941\" class=\"text casestudy__heading\">\n\t\t\n\n<h1><span class=\"ez-toc-section\" id=\"The_Perfect_Plate_%E2%80%93_June_2024_Q2\"><\/span>The Perfect Plate \u2013 June 2024 &#038; Q2<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\t\t\n<style>\n#text-4013841941 {\n  text-align: center;\n  color: rgb(255, 255, 255);\n}\n#text-4013841941 > * {\n  color: rgb(255, 255, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-2901866584\" class=\"text\">\n\t\t\n\n<p>Eating and drinking places registered total sales of $94.8 billion on a seasonally adjusted basis in June, \u2026<\/p>\n\n\t\t\n<style>\n#text-2901866584 {\n  text-align: center;\n  color: rgb(255, 255, 255);\n}\n#text-2901866584 > * {\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_21965759 {\n  padding-top: 30px;\n  padding-bottom: 30px;\n  min-height: 450px;\n}\n#section_21965759 .section-bg-overlay {\n  background-color: rgba(57, 0, 119, 0.5);\n}\n#section_21965759 .section-bg img {\n  object-position: 50% 100%;\n}\n@media (min-width:550px) {\n  #section_21965759 {\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_330017732\">\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-1185703873\">\n\n\n\t<div id=\"col-1345148889\" 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-1376007027\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1376007027 {\n  padding-top: 70px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2539243851\" class=\"text hidden\">\n\t\t\n\n<h1><span class=\"ez-toc-section\" id=\"The_Perfect_Plate_%E2%80%93_2024_June_Q2\"><\/span>The Perfect Plate \u2013 2024 June &#038; Q2<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\t\t\n<style>\n#text-2539243851 {\n  text-align: left;\n  color: rgb(0, 0, 0);\n}\n#text-2539243851 > * {\n  color: rgb(0, 0, 0);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-1652476462\" 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<\/p>\n\t\t\n<style>\n#text-1652476462 {\n  text-align: left;\n  color: rgb(0, 0, 0);\n}\n#text-1652476462 > * {\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-center\"  id=\"row-1589178601\">\n\n\n\t<div id=\"col-1297181595\" 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-1556781610\" 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-1556781610 {\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-841417214\" 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-june-2024\/\" 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-june-2024\/\" 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%20June%202024%20%26amp%3B%20Q2&body=Check%20this%20out%3A%20https%3A%2F%2Fwww.paperchase.ac%2Fnewsletter%2Fthe-perfect-plate-june-2024%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-june-2024\/&title=The%20Perfect%20Plate%20%E2%80%93%20June%202024%20%26amp%3B%20Q2\" 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-430375108\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-430375108 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse\"  id=\"row-322230592\">\n\n\n\t<div id=\"col-601899579\" 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-42496156\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-42496156 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-694587149\">\n\n\n\t<div id=\"col-1509704942\" class=\"col medium-6 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-3502279704\" class=\"text txt-a\">\n\t\t\n\n<p>We wanted to share a direct analysis from the National Restaurant Association [NRA] for this report, which shows how overall traffic growth and real sales growth flattening in 2024. \t <\/p>\n\t\t\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_330017732 {\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_276854337\">\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-543098077\">\n\n\n\t<div id=\"col-787392139\" 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-1121463663\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1121463663 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2862695681\" class=\"text\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Economic_Update_Guest_Traffic_Sales_are_Declining\"><\/span>Economic Update: Guest Traffic Sales are Declining<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-2862695681 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-2862695681 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1647973131\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1647973131 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-4126626146\" class=\"text\">\n\t\t\n\n<p>Eating and drinking places registered total sales of $94.8 billion on a seasonally adjusted basis in June, according to preliminary data from the U.S. Census Bureau. That was up 0.3% from May and represented the third consecutive monthly sales gain, after May\u2019s preliminary reading was revised significantly higher. <\/p>\n<p>While the trendline during the first half of 2024 was only modestly positive, the revised data paint a much more positive picture than was originally reported last month. Coupled with the continued resiliency of the labor market, this makes it likely that consumers will bend but not break during the second half of the year. <\/p>\n\t\t\n<style>\n#text-4126626146 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-848799778\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-848799778 {\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_1601678362\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2246\" height=\"1022\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20241\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241.png 2246w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241-300x137.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241-1024x466.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241-768x349.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241-1536x699.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20241-2048x932.png 2048w\" sizes=\"(max-width: 2246px) 100vw, 2246px\" \/>\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_1601678362 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-4277521629\" class=\"text img-source-txt\">\n\t\t\n\n<p><em><strong>Source: <a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\">National Restaurant Association<a\/>, U.S. Census Bureau<\/strong><\/em><\/p>\n<p><\/a><\/p>\n\t\t\n<style>\n#text-4277521629 {\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1105534467\" class=\"gap-element clearfix popmake-4962\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1105534467 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3535500647\" class=\"text\">\n\t\t\n\n<p>The recent uptick in restaurant sales was primarily driven by rising menu prices. As a result, real eating and drinking place <strong>sales were essentially flat<\/strong> during <b>the first half of 2024<\/b>, after adjusting for menu price inflation. Overall, June\u2019s sales volume of $94.8 billion was a full $2 billion below the November 2023 peak, in inflation-adjusted terms.\n<\/p>\n\t\t\n<style>\n#text-3535500647 {\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_1585622523\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2254\" height=\"1000\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20242\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242.png 2254w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242-300x133.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242-1024x454.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242-768x341.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242-1536x681.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20242-2048x909.png 2048w\" sizes=\"(max-width: 2254px) 100vw, 2254px\" \/>\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_1585622523 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1611986342\" class=\"text img-source-txt\">\n\t\t\n\n<p><em><strong>Source: <a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\">National Restaurant Association<a\/>, U.S. Census Bureau<\/strong><\/em><\/p>\n<p><\/a><\/p>\n\t\t\n<style>\n#text-1611986342 {\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1123323641\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1123323641 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3823447082\" class=\"text\">\n\t\t\n\n<p>Here is a view of the spread between real and nominal growth rates. Data shows that in June 2024 the spread is 4.1% compared to June 2023 where it was 7.6%. Now that most concepts have increased menu prices; a focus needs to be shifted on increasing avg. check strategies or margin optimization.\n<\/p>\n\t\t\n<style>\n#text-3823447082 {\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_1590430777\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2206\" height=\"972\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20243\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243.png 2206w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243-300x132.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243-1024x451.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243-768x338.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243-1536x677.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20243-2048x902.png 2048w\" sizes=\"(max-width: 2206px) 100vw, 2206px\" \/>\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_1590430777 {\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\t<div id=\"gap-221429162\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-221429162 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-171287678\">\n\n\n\t<div id=\"col-1918311193\" 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-2741280969\" class=\"text\">\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<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-2741280969 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-2741280969 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1187735134\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1187735134 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3582897434\" class=\"text\">\n\t\t\n\n<p>Bloomin&#8217; Brands leads the top 10 for the week ending June 28th, 2024.<br \/>\nStocks that have performed worse over the last year rebounded slightly over the last month.\n<\/p>\n\t\t\n<style>\n#text-3582897434 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-183544455\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-183544455 {\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_668525335\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2224\" height=\"906\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20244\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244.png 2224w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244-300x122.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244-1024x417.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244-768x313.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244-1536x626.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20244-2048x834.png 2048w\" sizes=\"(max-width: 2224px) 100vw, 2224px\" \/>\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_668525335 {\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\t<div id=\"gap-676943389\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-676943389 {\n  padding-top: 20px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-2062465677\">\n\n\n\t<div id=\"col-1250121402\" 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-1687811517\" class=\"text\">\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<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-1687811517 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-1687811517 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1090952071\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1090952071 {\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_1539483783\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2308\" height=\"1344\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20245\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245.png 2308w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245-300x175.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245-1024x596.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245-768x447.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245-1536x894.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20245-2048x1193.png 2048w\" sizes=\"(max-width: 2308px) 100vw, 2308px\" \/>\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_1539483783 {\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\t<div id=\"gap-849106346\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-849106346 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-1067897013\">\n\n\n\t<div id=\"col-404162037\" 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-1683330881\" class=\"text\">\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-1683330881 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-1683330881 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1487590754\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1487590754 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1133094798\" class=\"text newsletter-txt-li txt-a\">\n\t\t\n\n<ul>\n<li>Restaurant Dive &#8211; One Table Restaurant Brands files for Chapter 11 bankruptcy protections \u2013 <a href=\"https:\/\/www.restaurantdive.com\/news\/tender-greens-tacaya-one-table-restaurant-brands-files-for-chapter-11\/721776\/?utm_source=Sailthru&#038;utm_medium=email&#038;utm_campaign=Issue:%202024-07-19%20Restaurant%20Dive%20%5Bissue:64087%5D&#038;utm_term=Restaurant%20Dive\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>McKinsey Throwback &#8211; A recipe for restaurant revenue and sales growth. &#8211; <a href=\"https:\/\/www.mckinsey.com\/industries\/retail\/our-insights\/cooking-up-extraordinary-growth-for-restaurants-during-a-downturn\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Restaurant Dive &#8211; Cost pressures June drive restaurant franchisee bankruptcies in 2024 &#8211; <a href=\"https:\/\/www.restaurantdive.com\/news\/labor-shortage-costs-drive-restaurant-franchisee-bankruptcies-in-2024\/705991\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<li>Nerd Wallet &#8211; 2024 State of Consumer Credit Report &#8211; <a href=\"https:\/\/www.nerdwallet.com\/article\/credit-cards\/2024-consumer-credit-report\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<\/ul>\n\t\t\n<style>\n#text-1133094798 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-499935595\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-499935595 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-184837531\" class=\"text\">\n\t\t\n\n<h2><span class=\"ez-toc-section\" id=\"Deal_Making_Transaction_Activity\"><\/span>Deal Making: Transaction Activity<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\n<style>\n#text-184837531 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-184837531 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-154980807\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-154980807 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1492846647\" class=\"text\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"M_A_in_2024_Q2\"><\/span>M&#038;A in 2024 Q2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-1492846647 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1815509095\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1815509095 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1189496426\" class=\"text newsletter-txt-li txt-a\">\n\t\t\n\n<ul>\n<li>STK parent One Group completes acquisition of Benihana for $365M &#8211; <a href=\"https:\/\/www.bing.com\/ck\/a?!&#038;&#038;p=e996bdb2e086da95JmltdHM9MTcyMTUyMDAwMCZpZ3VpZD0zNjc2MTU4My1jYjllLTY1ZTUtMzZlYy0wNjJkY2EwYzY0MDMmaW5zaWQ9NTIwMg&#038;ptn=3&#038;ver=2&#038;hsh=3&#038;fclid=36761583-cb9e-65e5-36ec-062dca0c6403&#038;psq=%ef%82%a7+STK+parent+One+Group+completes+acquisition+of+Benihana+for+%24365M&#038;u=a1aHR0cHM6Ly93d3cucmVzdGF1cmFudGJ1c2luZXNzb25saW5lLmNvbS9maW5hbmNpbmcvc3RrLXBhcmVudC1vbmUtZ3JvdXAtY29tcGxldGVzLWFjcXVpc2l0aW9uLWJlbmloYW5hLTM2NW0&#038;ntb=1\/\" target=\"_blank\" rel=\"noopener\">Link<\/a><\/li>\n<\/ul>\n\t\t\n<style>\n#text-1189496426 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-820317229\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-820317229 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2713248939\" class=\"text\">\n\t\t\n\n<h3><span class=\"ez-toc-section\" id=\"M_A_in_2024_Q1\"><\/span>M&#038;A in 2024 Q1<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-2713248939 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1525141572\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1525141572 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2151854850\" class=\"text newsletter-txt-li txt-a\">\n\t\t\n\n<ul>\n<li>Craveworthy Brands buys major stake in Dirty Dough Cookies &#8211; <a href=\"https:\/\/www.restaurantdive.com\/news\/craveworthy-brands-acquires-dirty-dough-cookies\/705432\/\" target=\"_blank\" rel=\"noopener\"> Link<\/a><\/li>\n<li>Thai Union Group looks to sell stake in Red Lobster &#8211; <a href=\"https:\/\/www.restaurantdive.com\/news\/Thai-Union-to-sell-minority-stake-Red-Lobster\/704654\/?utm_campaign=Yahoo-Licensed-Content&#038;utm_source=yahoo&#038;utm_medium=newsfeed\" target=\"_blank\" rel=\"noopener\"> Link<\/a><\/li>\n<li>Burger King Company to Acquire Carrols Restaurant Group for $1.0B &#8211;  <a href=\"https:\/\/www.rbi.com\/English\/news\/news-details\/2024\/Burger-King-Company-to-Acquire-Carrols-Restaurant-Group\/default.aspx\" target=\"_blank\" rel=\"noopener\"> Link <\/a><\/li>\n<\/ul>\n<p><em>Source: <a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\">Restaurant Mergers &amp; Acquisitions | Restaurant Dive<\/a><\/em><\/p>\n\t\t\n<style>\n#text-2151854850 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1699836659\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1699836659 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-725096362\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-725096362 {\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\t<div id=\"gap-105582308\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-105582308 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-208568242\">\n\n\n\t<div id=\"col-1526689692\" 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-2696663788\" class=\"text\">\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-2696663788 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-2696663788 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-307787320\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-307787320 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2490060619\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>Week Ending | 28\/06\/2024<\/p>\n\t\t\n<style>\n#text-2490060619 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1789857660\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1789857660 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3864358233\" class=\"text\">\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-3864358233 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-402173390\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-402173390 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-406544102\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>The last 30-day performance has had an average of 4.3% for the Top 10.<\/p>\n\t\t\n<style>\n#text-406544102 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-140279758\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-140279758 {\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_370835707\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2262\" height=\"824\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20246\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246.png 2262w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246-300x109.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246-1024x373.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246-768x280.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246-1536x560.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20246-2048x746.png 2048w\" sizes=\"(max-width: 2262px) 100vw, 2262px\" \/>\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_370835707 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1932718673\" class=\"text img-source-txt\">\n\t\t\n\n<p><em><strong>Source:<a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\"> TIKR<\/a>, Paperchase<\/strong><\/em><\/p>\n\t\t\n<style>\n#text-1932718673 {\n  font-size: 0.75rem;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-2139487212\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2139487212 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-184672494\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-184672494 {\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\t<div id=\"gap-807057795\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-807057795 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-809169919\">\n\n\n\t<div id=\"col-341725845\" 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-2019200923\" class=\"text\">\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<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-2019200923 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1731373819\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1731373819 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-772652513\" class=\"text newsletter-txt-li\">\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 ~10% growth into 2024. The growth guidance is attributable to store growth and price increases.\n<\/p>\n\t\t\n<style>\n#text-772652513 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-387500298\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-387500298 {\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_1579911672\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2166\" height=\"836\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20247\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247.png 2166w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247-300x116.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247-1024x395.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247-768x296.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247-1536x593.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20247-2048x790.png 2048w\" sizes=\"(max-width: 2166px) 100vw, 2166px\" \/>\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_1579911672 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-1730197178\" class=\"text img-source-txt\">\n\t\t\n\n<p><em><strong>Source:<a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\"> TIKR<\/a>, Paperchase<\/strong><\/em><\/p>\n\t\t\n<style>\n#text-1730197178 {\n  font-size: 0.75rem;\n  text-align: right;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1902007785\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1902007785 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<p>This Top 10 cohort has <strong>outperformed the S&amp;P<\/strong> and S&amp;P Consumer index over the last year.<\/p>\n\t<div id=\"gap-369212906\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-369212906 {\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_1596647635\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2146\" height=\"802\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024.png\" class=\"attachment-original size-original\" alt=\"8Paperchase Perfect Plate Investor Newsletter June 2024\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024.png 2146w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024-300x112.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024-1024x383.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024-768x287.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024-1536x574.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/8Paperchase-Perfect-Plate-Investor-Newsletter-June-2024-2048x765.png 2048w\" sizes=\"(max-width: 2146px) 100vw, 2146px\" \/>\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_1596647635 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2625926230\" class=\"text newsletter-txt-li img-source-txt\">\n\t\t\n\n<p><em><strong>Source: <a href=\"https:\/\/www.restaurantdive.com\/topic\/ma\/\" target=\"_blank\" rel=\"noopener\">TIKR, S&#038;P, Paperchasee<\/a><\/em><\/strong<\/p>\n\t\t\n<style>\n#text-2625926230 {\n  text-align: right;\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\t<div id=\"gap-1227644433\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1227644433 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-761154959\">\n\n\n\t<div id=\"col-840632669\" 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-3147809026\" class=\"text\">\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-3147809026 {\n  text-align: left;\n  color: rgb(187, 176, 255);\n}\n#text-3147809026 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-2104316346\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2104316346 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3633839666\" class=\"text\">\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 <span style=\"text-decoration: underline;\">Revenue<\/span> Multiples<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-3633839666 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-151585480\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-151585480 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3730203367\" class=\"text newsletter-txt-li\">\n\t\t\n\n<p>The restaurant industry has seen valuations decline due to interest rate increases.<\/p>\n\t\t\n<style>\n#text-3730203367 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-2131948462\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-2131948462 {\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_1792686504\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2186\" height=\"838\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20248\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248.png 2186w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248-300x115.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248-1024x393.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248-768x294.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248-1536x589.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20248-2048x785.png 2048w\" sizes=\"(max-width: 2186px) 100vw, 2186px\" \/>\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_1792686504 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-2785079538\" class=\"text\">\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 <span style=\"text-decoration: underline;\">EBITDA<\/span> Multiples<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\t\t\n<style>\n#text-2785079538 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1616338311\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1616338311 {\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_1821229360\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2186\" height=\"832\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 20249\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249.png 2186w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249-300x114.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249-1024x390.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249-768x292.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249-1536x585.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-20249-2048x779.png 2048w\" sizes=\"(max-width: 2186px) 100vw, 2186px\" \/>\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_1821229360 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-1439408590\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1439408590 {\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-1002728551\">\n\n\n\t<div id=\"col-440130794\" 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-3814209291\" class=\"text\">\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-3814209291 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1359570313\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1359570313 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-4243723428\" class=\"text newsletter-txt-li txt-a\">\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.\n<\/p>\n\t\t\n<style>\n#text-4243723428 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-728098499\" class=\"text newsletter-txt-li txt-a\">\n\t\t\n\n<p>Here are some of the factors that affect restaurant valuation multiples:<\/p>\n\t\t\n<style>\n#text-728098499 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-608599957\" class=\"text newsletter-txt-li txt-a\">\n\t\t\n\n<ul>\n<li><strong>Capital structure:<\/strong> Businesses with less debt and more equity tend to have higher valuation multiples.\n<\/li>\n<li><strong>Growth potential:<\/strong> Businesses with high growth potential tend to have higher valuation multiples.<\/li>\n<li><strong>Franchise potential:<\/strong> Franchise businesses tend to have higher valuation multiples than company-owned businesses.\n<\/li>\n<\/ul>\n\t\t\n<style>\n#text-608599957 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-895992155\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-895992155 {\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_999639856\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2378\" height=\"1194\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 202410\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410.png 2378w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410-300x151.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410-1024x514.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410-768x386.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410-1536x771.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202410-2048x1028.png 2048w\" sizes=\"(max-width: 2378px) 100vw, 2378px\" \/>\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_999639856 {\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\t<div id=\"gap-1404356745\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1404356745 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-924026384\">\n\n\n\t<div id=\"col-1280812201\" 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-3842673626\" class=\"text\">\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-3842673626 {\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"gap-1653941235\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1653941235 {\n  padding-top: 10px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"gap-1938518817\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1938518817 {\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_1187992886\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2280\" height=\"738\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 202411\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411.png 2280w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411-300x97.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411-1024x331.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411-768x249.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411-1536x497.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202411-2048x663.png 2048w\" sizes=\"(max-width: 2280px) 100vw, 2280px\" \/>\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_1187992886 {\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_1517156403\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img decoding=\"async\" width=\"2266\" height=\"720\" src=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412.png\" class=\"attachment-original size-original\" alt=\"Paperchase Perfect Plate Investor Newsletter June 202412\" srcset=\"https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412.png 2266w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412-300x95.png 300w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412-1024x325.png 1024w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412-768x244.png 768w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412-1536x488.png 1536w, https:\/\/www.paperchase.ac\/wp-content\/uploads\/2024\/07\/Paperchase-Perfect-Plate-Investor-Newsletter-June-202412-2048x651.png 2048w\" sizes=\"(max-width: 2266px) 100vw, 2266px\" \/>\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_1517156403 {\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\n\t\t<\/div>\n\n\t\t\n<style>\n#section_276854337 {\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\" id=\"section_188459712\">\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-1324202035\">\n\n\n\t<div id=\"col-858842879\" class=\"col medium-6 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-339038874\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-339038874 {\n  padding-top: 40px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"text-3725936256\" class=\"text\">\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-3725936256 {\n  color: rgb(187, 176, 255);\n}\n#text-3725936256 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-1604331090\" class=\"text headingWithCopyText\">\n\t\t\n\n<p>TIKR<br \/>Bloomberg<br \/>Company 10-Q and 10-K Filings<br \/>Restaurant Business<\/p>\n\t\t\n<style>\n#text-1604331090 {\n  color: rgb(0, 0, 0);\n}\n#text-1604331090 > * {\n  color: rgb(0, 0, 0);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3112432837\" class=\"text headingWithCopyText links-txt-p\">\n\t\t\n\n<p>Bureau of Labor Statistics (BLS) [<a href=\"https:\/\/www.bls.gov\" target=\"_blank\" rel=\"noopener\">bls.gov<\/a>]\n<p>U.S. Bureau of Economic Analysis (BEA) [<a href=\"https:\/\/www.bea.gov\" target=\"_blank\" rel=\"noopener\">bea.gov<\/a>]\n<p>U.S. Department of Agriculture (USDA) Economic Research Service [<a href=\"https:\/\/www.ers.usda.gov\" target=\"_blank\" rel=\"noopener\">ers.usda.gov<\/a>]\n<p>Federal Reserve Economic Data (FRED) [<a href=\"https:\/\/www.fred.stlouisfed.org\" target=\"_blank\" rel=\"noopener\">fred.stlouisfed.org<\/a>]\n<p>National Restaurant Association [<a href=\"https:\/\/www.restaurant.org\" target=\"_blank\" rel=\"noopener\">restaurant.org<\/a>]\n<p>International Monetary Fund (IMF) [<a href=\"https:\/\/www.imf.org\" target=\"_blank\" rel=\"noopener\">imf.org<\/a>]\n\t\t\n<style>\n#text-3112432837 {\n  color: rgb(0, 0, 0);\n}\n#text-3112432837 > * {\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\t<div id=\"gap-1732708485\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1732708485 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row row-collapse align-center\"  id=\"row-1466784095\">\n\n\n\t<div id=\"col-495547784\" class=\"col medium-12 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-3617354410\" class=\"text\">\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-3617354410 {\n  color: rgb(187, 176, 255);\n}\n#text-3617354410 > * {\n  color: rgb(187, 176, 255);\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-3301445281\" class=\"text headingWithCopyText\">\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<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 employers 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 persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.\n<\/p>\n\t\t\n<style>\n#text-3301445281 {\n  color: rgb(0, 0, 0);\n}\n#text-3301445281 > * {\n  color: rgb(0, 0, 0);\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-june-2024\/\" 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-june-2024\/\" 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%20June%202024%20%26amp%3B%20Q2&body=Check%20this%20out%3A%20https%3A%2F%2Fwww.paperchase.ac%2Fnewsletter%2Fthe-perfect-plate-june-2024%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-june-2024\/&amp;title=The%20Perfect%20Plate%20%E2%80%93%20June%202024%20%26amp%3B%20Q2\" 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\t<div id=\"gap-1740599717\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1740599717 {\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_188459712 {\n  padding-top: 30px;\n  padding-bottom: 30px;\n}\n<\/style>\n\t<\/section>\n\t\n\n","protected":false},"excerpt":{"rendered":"<p>Eating and drinking places registered total sales of $94.8 billion on a seasonally adjusted basis in June, &#8230;<\/p>\n","protected":false},"author":1,"featured_media":9129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[22],"tags":[21],"class_list":["post-9116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","tag-dimitre-krouchev"],"_links":{"self":[{"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts\/9116","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=9116"}],"version-history":[{"count":37,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts\/9116\/revisions"}],"predecessor-version":[{"id":18054,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/posts\/9116\/revisions\/18054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/media\/9129"}],"wp:attachment":[{"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/media?parent=9116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/categories?post=9116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paperchase.ac\/wp-json\/wp\/v2\/tags?post=9116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}