YUM - Evercore eyes best prospects in a nice rebound for burger chains

As 2021 has progressed, same-store sales growth in the fast food industry has rebounded nicely, Evercore ISI notes in a look that encapsulates the top U.S. burger chains. For May, it figures industrywide fast-food SSS growth was 15-17% on a one-year basis, and 12-13% on a two-year basis, and says it's interesting that trends have accelerated by about 10 percentage points since January/February, when SSS growth was in low single digits. That may not quite keep up with the acceleration in casual dining (about 20 percentage points), but there's an advantage in the fast food names: They "have the franchised business models to handle rising inflation and still have outsized international recoveries on the horizon." (The firm says it hears from a privately owned international operator that Europe's fast food recovery has strong, particularly in the UK - a development it sees as bullish for McDonald's). McDonald's (MCD) was likely

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Evercore eyes best prospects in a nice rebound for burger chains