Recent quarterly reports across the restaurant and quick-service space have been all over the place. Chipotle (CMG) turned in a solid beat with 7.4% revenue growth, and Yum! Brands (YUM) posted sales up 15.2% year-over-year (YOY). On the flip side, The Cheesecake Factory (CAKE) managed comparable sales growth of just 1.6%, and many chains are still dealing with choppy traffic as higher gas prices and budget-conscious consumers weigh on demand.
But Starbucks (SBUX) came in steaming ahead of the pack. The company has put more than $500 million to work on its comeback, mainly through extra labor hours and bigger store rosters under its “Back to Starbucks” plan.
