U.S. fast-food restaurants are thriving despite the global economic slump. WSJheard explains. WSJWhatsNow
By Charley Grant Close Charley Grant May 13, 2020 7:00 am ET Not even the full force of a global pandemic can keep U.S. fast-food sales down for long.
Shake Shack SHAK -6.18% reported a comparable weekly sales drop of 73% at the nadir, which had improved to a 45% drop by April 29. Wendy’s, WEN -4.33% which began serving breakfast at its stores in March, said U.S. same-store sales fell 2.1% in the week that ended May 3, after dropping nearly 26% in the first week of April. Wingstop said April U.S. comparable sales actually rose by 30%. Share prices for the category have rebounded along with sales.
Serving customers is a challenge with dining rooms closed. Fast-food concepts can adjust far more easily than sit-down restaurants, though. Having an existing drive-through infrastructure certainly helps too: McDonald’s MCD -2.04% said last month that about 90% of recent U.S. sales have been via the drive-through. In normal times, it accounts for about two-thirds of sales.
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