The global foodservice industry experienced an 81% drop in company filings mentions of COVID-19 in Q3 2023 compared with the previous quarter, with the highest share accounted for by Darden Restaurants with 65% year-on-year decrease, according to GlobalData’s analysis of over 71 foodservice company filings. GlobalData’s Foodservice: Filings Trends & Signals Q3 2023 report delves into earnings call transcripts and quarterly reports within the foodservice industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
Notably, COVID-19 was one of the most frequently referenced themes in Q3 2023, ranking highest in terms of mentions, ahead of mobile payments and mobile, according to GlobalData.
Of the top leading companies in the foodservice industry, Darden Restaurants had the greatest increase in references for COVID-19 in Q3 2023, compared with the previous quarter. GlobalData identified 41 COVID-19-related sentences in the company's filings - 2% of all sentences - and a decrease of 65% in Q3 2023 compared with Q3 2022. Yum China’s mentions of COVID-19 dropped by 84% to 16 and DoorDash’s by 74% to 10 and Starbucks’s by 87% to 8 and Restaurant Brands International’s by 68% to 6.
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 Q3 2023 was 181.
For further understanding of GlobalData's Foodservice: Filings Trends & Signals Q3 2023, buy the report here.