Despite macroeconomic challenges dampening the restaurant industry's performance, it is well-positioned for a strong rebound thanks to cooling inflation, rising consumer spending, and rapid digitization. Therefore, quality restaurant stocks Chipotle Mexican Grill, Inc. (CMG), Domino's Pizza Group plc (DPUKY), and El Pollo Loco Holdings, Inc. (LOCO) could be wise additions to your portfolio now. These stocks are B (Buy) rated in our POWR Ratings system.
According to the National Restaurant Association’s 2023 State of the Restaurant Industry study, the food service industry is forecast to reach $997 billion in revenues in 2023, with a projected rise of 500,000 jobs, despite high food costs and increased competition.
