While inflation and high prices chewed on consumer wallets, restaurant sales thrived in 2023 after an impressive turnaround last year. In light of this, I have highlighted three fundamentally robust restaurant stocks, Starbucks Corporation (SBUX), Domino’s Pizza Group plc (DPUKY), and Biglari Holdings Inc. (BH), which seem well-positioned to garner significant returns in the long term.
Preliminary data from the U.S. Census Bureau shows that eating and drinking places served up a healthy 1.4% gain in July from June, with total sales reaching $91.1 billion. This marks the third consecutive month of solid growth, following robust gains in May (1.6%) and June (0.8%), with a clear upward trend in the summer months.
