The global foodservice industry experienced a 70% drop in company filings mentions of COVID-19 in Q2 2023 compared with the previous quarter, with the highest share accounted for by Starbucks with 30% year-on-year decrease, according to GlobalData’s analysis of over 94 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 Q2 2023, ranking highest in terms of mentions, ahead of internet of things and artificial intelligence, according to GlobalData.
Of the top leading companies in the foodservice industry, Starbucks had the greatest increase in references for COVID-19 in Q2 2023, compared with the previous quarter. GlobalData identified 57 COVID-19-related sentences in the company's filings - 2% of all sentences - and a decrease of 30% in Q2 2023 compared with Q2 2022. Darden Restaurants’s mentions of COVID-19 rose by 108% to 25 and Compass Group’s by 64% to 18 and DoorDash’s by 69% to 16 and Yum China’s by 83% to 13.
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 Q2 2023 was 233.
To further understand GlobalData's analysis on COVID-19 Cross-Sector Impact - Thematic Research, buy the report here.