US restaurant chains report weaker sales growth as gasoline prices surge
Updated
Updated · Reuters · May 4
US restaurant chains report weaker sales growth as gasoline prices surge
10 articles · Updated · Reuters · May 4
LSEG data showed more than $40bn in market value wiped out since the February war began, while California petrol prices topped $6 and Domino's cut its annual sales forecast.
Wingstop said high pump prices helped drive an 8.7% same-store sales drop, and analysts expect weaker results from Shake Shack and Jack in the Box as consumers curb discretionary spending.
Average US gasoline prices reached $4.43, near a key threshold for reduced restaurant visits, prompting widespread discounting; McDonald's results on 7 May are the next major test for the sector.
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