Starbucks and Chipotle shine while Wingstop flails and Jersey Mike’s goes public

On this week's Extra Serving, NRN editor in chief Sam Oches and executive editor Alicia Kelso discuss the latest restaurant industry news, including a flurry of earnings reports that paint a mostly positive picture for restaurants. They kick things off with some encouraging news: Starbucks same-store sales climbed 7.9% in the most recent quarter, including a 4.2% transaction increase, demonstrating real progress in its ongoing turnaround efforts. The coffee giant's results show that CEO Brian Niccol’s plan to reinvest in Starbucks as a third place is working, and Sam and Alicia break down what’s going right — from operational improvements to food innovation to enhanced customer experience — and how Starbucks can build more momentum in a busy coffee category.

They follow that up with a discussion on other restaurant companies that experienced sales growth last quarter, including Chipotle (which posted its best quarter since 2024), Yum Brands (which does not yet factor in the Pizza Hut transaction or cyclospora’s effect on Taco Bell), BJ’s Restaurant & Brewhouse, and The Cheesecake Factory. Then they break down what’s going on at Wingstop, which posted -7.5% sales last quarter, its fifth consecutive quarterly decline.

They next turn their attention to Jersey Mike's and its roller coaster IPO journey; the sandwich chain’s stock dropped 6% on its first day of trading before rebounding in the following days. Sam and Alicia discuss the market conditions affecting the IPO, what this means for Jersey Mike's future, and what it signals about investor sentiment toward restaurant stocks right now. They then wrap up with a Quick Fire round covering additional industry news and trends, including Panera Bread’s HQ move and DoorDash’s exploration of drone delivery.

For more on these stories:

Starbucks stock soars as company’s sales accelerate

Wingstop’s same-store sales hit once again by soft consumer spending

Jersey Mike's raises $1B in a landmark IPO