The burrito category outgrew full-service, QSR burgers, pizza, and coffee — again. April, May, and June each accelerated. Earnings season opens in three weeks; this spend already happened, the prints just haven't caught up.
Installs and monthly actives across fast-casual apps both set records in June. When digital mix climbs, the same revenue produces better earnings — the quality of the quarter is improving underneath the headline number.
Category store visits were essentially unchanged year over year. The growth is menu price and premium mix, not more customers — and comps built on pricing alone get punished the moment pricing pauses.
Cross-shopping data shows fast-casual Mexican pulling wallet share from burgers, sandwiches, and salad chains simultaneously — while its own category grows. Taking share of a growing pie is the strongest configuration in consumer.
The final two weeks of the quarter decelerated from the May peak — small, but visible, and broad-based across chains. Strong quarter, softening exit. The data says respect the print, question the guide.
Know first — starting at $20/month.