Where Are the Restaurant Deals

Restaurant stocks lagged the market in April as Goldman Sachs lowered discretionary spending forecasts. While fast casual shows resilience, the broader industry is turning to heavy promotions to offset declining traffic.

Key Takeaways

• 1.Restaurant stocks underperformed the S&P 500 in April, falling 5.3% as discretionary cash flow expectations weakened.
• 2.The fast casual subsector is outperforming fast food and casual dining in both observed sales and traffic trends.
• 3.Same-store sales growth (SSSG) remains positive but is driven by higher check sizes rather than increased traffic, which remains negative YoY.

Table of Contents

• Where Are The Restaurant Deals? Goldman Has Answers
• Industry traffic/observed sales trends
• Macro indicators/commodity prices
• US Restaurant Monthly Dashboard - April 2026
• Promotion Tracker - Limited-Service Restaurants
• Promotion Tracker - Full-Service Restaurants

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