Mar. 27 at 2:45 PM
Bernstein restaurant analyst: "The war in Iran is likely having negative effects on both restaurant demand and on supply, with rising operating costs (energy, commodities), partial closures & limited supply chain especially in Asia,"
"On the demand side, the high-frequency data from early March appears to be showing industry slowdown, and we think it is reasonable to interpret that as incremental pressure on a low-income consumer who was already stretched & spends on gas disproportionately more as % of income."
US national avg gasoline prices +34.54% since Trump War - largest spike since Hurricane Katrina in 2005
"The silver lining is that there is no rising anti-American sentiment that could impact 2Q"...yet
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