The global foodservice industry experienced a 17% drop in company filings mentions of COVID-19 in Q1 2023 compared with the previous quarter, with the highest share accounted for by Yum China with 24% year-on-year decrease, according to GlobalData’s analysis of over 100 foodservice company filings. GlobalData’s COVID-19 Cross-Sector Impact – Thematic Research report helps understand how the effect of COVID-19 on Foodservice sector compares with 17 other key sectors, in terms of equity indices, M&A volumes, jobs index, and filings. Buy the report here.
Notably, COVID-19 was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of batteries and environment, according to GlobalData.
Of the 50 leading companies in the foodservice industry, Yum China had the greatest increase in references for COVID-19 in Q1 2023, compared with the previous quarter. GlobalData identified 94 COVID-19-related sentences in the company's filings, an increase of 100% in Q1 2023 compared with Q4 2022. Starbucks's mentions of COVID-19 rose by 100% to 58 and Darden Restaurants's by 100% to 36 and Yum! Brands's by 100% to 30 and Restaurant Brands International's by 100% to 25.
GlobalData's Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for COVID-19 in Q1 2023 was 170.
To further understand GlobalData's analysis on COVID-19 Cross-Sector Impact - Thematic Research, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.
