Restaurant

By Tom Georges, investment sales broker, Northmarq The U.S. economy reported annualized growth of 2.6 percent in gross domestic product (GDP) in the third quarter, thereby avoiding a third consecutive quarter of negative growth. This positive news can be easily tempered by the fact that the growth was greatly affected by trade and inventory numbers, which were skewed as a result of world events like the war in Ukraine. But the news of growth was welcomed in an economy that has been starved for something positive for most of the year. Compounding the economic caution in the absence of sustained economic growth, of course, is the strain that inflation has inflicted on all Americans. In response to 40-year inflationary highs, the Federal Reserve has been forced to react with its primary inflation-countering tool: increasing interest rates. In early November, the Fed raised short-term rates to their highest level since January 2008. Additional rate hikes are anticipated in December, although signals suggest we’ll see increases in smaller increments going forward. Still, amid all the turmoil and uncertainty, several quick service restaurant (QSR) operators continue to roll out expansion plans and report better-than-expected sales and earnings. Restaurant Brands International (NYSE: QSR) recently …