This story was originally published on CX Dive. To receive daily news and insights, subscribe to our free daily CX Dive newsletter. Dive Brief: McDonald’s loyalty app reached 210 million 90-day active users in 70 global markets, according to executives on a Q4 2025 earnings call Wednesday. Active users are up from 185 million 90-day active users in the second quarter of 2025. In 2023, the restaurant chain made about $20 billion in system-wide sales to loyalty members across 50 markets. Sales to loyalt ...

Dutch Bros (NYSE:BROS) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Charles - Managing DirectorAndy Barish - Managing DirectorBrian James Harbour - Executive DirectorChristine Barone - CEO and PresidentChristine Cho - VPChristopher O'Cull - Managing DirectorDavid Tarantino - Director of ResearchDennis Geiger - Executive DirectorGregory Francfort - Managing DirectorJeffrey Farmer - Managing DirectorJohn Ivankoe - Managing DirectorJon Tower - Director of Equity ResearchJosh G ...

Dutch Bros (NYSE:BROS) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker3Thank you for standing by, and welcome to the Dutch Bros Inc. fourth quarter 2025 earnings conference call and webcast. This conference call and webcast is being recorded today, February 12, 2026, at 5:00 P.M. Eastern Time, and will be available for replay shortly after it's concluded. Following the company's presentation, we will open up the lines for questions, and instructions to queue up will be provided at that time. I w ...

McDonald’s Q4 revenue, sales beat estimates on strong US growth Proactive uses images sourced from Shutterstock McDonald's Corp (NYSE:MCD, XETRA:MDO) reported fourth-quarter revenue and comparable sales that exceeded analysts’ expectations, driven by its US traffic and the continued popularity of value meals. Revenue rose 10% year-on-year to $7.01 billion, surpassing the $6.81 billion forecast, while earnings per share matched estimates at $3.03, up from $2.80 a year earlier. Comparable sales climbed 5. ...

McDonald’s (NYSE:MCD) Q4 2025 Earnings call February 11, 2026 04:30 PM ET Speaker13Hello, and welcome to McDonald's fourth quarter 2025 investor conference call. At the request of McDonald's Corporation, this conference is being recorded. Following today's presentation, there will be a question and answer session for investors. At that time, investors only may ask a question by pressing star one on their touchtone telephone. I would now like to turn the conference over to Mr. Dexter Congbalay, Vice Presiden ...

Good Times Restaurants (NasdaqCM:GTIM) Q1 2026 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsKeri August - Chief Accounting OfficerKevin Holden - Founder and CEORyan Zink - CEOOperatorHello, everyone. Thank you for joining us, and welcome to the Good Times Restaurants Incorporated Q1 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, p ...

Good Times Restaurants (NasdaqCM:GTIM) Q1 2026 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsKeri August - Chief Accounting OfficerKevin Holden - Founder and CEORyan Zink - CEOOperatorHello, everyone. Thank you for joining us, and welcome to the Good Times Restaurants Incorporated Q1 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, p ...

Financial Data and Key Metrics Changes - Total revenues decreased approximately 10% for the quarter to $32.7 million [14] - Net income to common shareholders for both the current quarter and the prior year quarter was $0.2 million or $0.02 per share [22] - Adjusted EBITDA was $1.3 million for both the first quarters of 2026 and 2025 [22] Business Line Data and Key Metrics Changes - Bad Daddy's total restaurant sales decreased $2.9 million to $23.2 million for the quarter, with same-store sales decreasing 1.2% [14][15] - Good Times total restaurant sales decreased approximately $0.7 million to $9.2 million for the quarter, with same-store sales decreasing 3.1% [18][19] - Restaurant level operating profit for Bad Daddy's was approximately $3.2 million for the quarter, or 13.7% of sales [17] - Good Times restaurant level operating profit was flat quarter-over-quarter at $0.9 million, with a percentage of sales increase to 10.3% [21] Market Data and Key Metrics Changes - Same-store sales at both brands remained negative for the quarter but showed sequential improvement from the previous quarter [5] - The average menu price during the quarter was 1.7% higher than Q1 2025 for Bad Daddy's [14] - Good Times expanded pricing tiers based on testing and measuring price elasticity, allowing for more targeted pricing adjustments [19] Company Strategy and Development Direction - The company aims to prioritize paying down remaining debt, building cash reserves, and resuming share repurchases, with a focus on Bad Daddy's development [27][28] - The company is shifting to a Burger of the Month platform to allow for more flexible promotional items [11][12] - The company continues to emphasize a guest-first mindset to enhance customer experience and drive long-term sales and profit gains [13] Management's Comments on Operating Environment and Future Outlook - Management noted that underlying sales trends have continued to improve into the second quarter, despite challenges from winter storms impacting operations [5] - The company is optimistic about the effectiveness of its loyalty program, which has seen an increase in loyalty attachment rates [9][10] - Management acknowledged the unpredictable economic environment and the need for liquidity [27] Other Important Information - Food and beverage costs for Bad Daddy's were 30.2% for the quarter, a 130 basis point decrease from the previous year [16] - Labor costs for Good Times decreased to 35%, a 170 basis point decrease from the prior year [20] - General and administrative expenses were $2.1 million during the quarter, or 6.3% of total revenues, a decrease of 80 basis points from the prior year [21] Q&A Session Summary Question: What is the plan to deploy cash after buying back the remaining franchises of Good Times? - Management's first priority is paying down remaining debt, followed by building cash reserves, and then resuming share repurchases, with a focus on Bad Daddy's development [26][27]

Financial Data and Key Metrics Changes - The company reported record real estate funds from operations (FFO) of $4.8 billion, or $12.73 per share, reflecting a 4.2% growth from $3.35 per share in the prior year [6][11] - Domestic property net operating income (NOI) grew 4.8% year-over-year for the quarter and 4.4% for the year, while portfolio NOI, including international properties at constant currency, grew 5.1% for the quarter and 4.7% for the year [11][12] - The company returned approximately $3.5 billion in cash to shareholders through stock repurchases and dividends, with a total of approximately $48 billion paid in dividends since going public [6][14] Business Line Data and Key Metrics Changes - The company signed more than 1,300 leases totaling over 4.4 million square feet during the quarter and over 4,600 leases for more than 17 million square feet for the year, with approximately 30% of annual volume being new deals [8][9] - Average base minimum rents increased by 4.7% year-over-year for malls and premium outlets, with retailer sales per square foot for these properties at $799 for the year [12] Market Data and Key Metrics Changes - Malls and premium outlets ended the year with an occupancy rate of 96.4%, while mills reached 99.2% occupancy [11] - The company expects to drive higher occupancy at newly acquired assets, which slightly reduced overall occupancy rates [12] Company Strategy and Development Direction - The company acquired $2 billion of high-quality retail properties and completed over 20 major redevelopment projects, enhancing the quality of its portfolio [5][8] - The development pipeline now exceeds $4 billion, with significant projects scheduled for completion in 2026, including expansions and mixed-use developments [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong leasing demand and traffic growth, despite potential headwinds from tariffs affecting retailers [25][42] - The company anticipates real estate FFO of $13-$13.25 per share for 2026, with domestic property NOI growth expected to be at least 3% [14][15] Other Important Information - The company completed approximately $9 billion in financing activities during 2025, maintaining a strong balance sheet with over $9 billion in liquidity at year-end [13] - The company announced a dividend of $2.20 per share for the first quarter of 2026, a year-over-year increase of 4.8% [14] Q&A Session Summary Question: Can you provide details on rents for new and renewal leases? - The company disclosed that new rents on leases are approximately $65 per square foot, with a 30% new leasing rate being a good run rate [17] Question: What are the early observations on the Simon Plus loyalty program? - Management noted early positive adoption from customers and brands, with plans to continue enhancing engagement and partnerships [20][22] Question: How is tenant credit and bad debt expected to change? - Management indicated that tariffs are putting pressure on retailers, particularly smaller ones, but overall tenant management remains cautious [24][25] Question: What incremental NOI or FFO should be expected from redevelopment projects? - The company expects about a $30 million contribution in 2026 from projects that are set to stabilize [34] Question: How does the leasing pipeline compare year-over-year? - The leasing pipeline is up about 15% over last year, indicating strong demand across all categories [18][111] Question: What is the outlook for luxury retail demand? - Management noted that luxury brands are showing mixed signals, with some growing and others being cautious, but overall, the long-term outlook remains positive [104][106]

Core Insights - Starbucks is reintroducing a tiered loyalty program in North America to encourage more frequent visits from coffee drinkers as part of its broader turnaround strategy [1] - The loyalty program, Starbucks Rewards, has been a significant contributor to the company's revenue, accounting for 60% of total revenue in fiscal 2025 [2] - The previous two-tiered system was eliminated in 2019 to engage new members, but the company now believes it did not adequately reward its most loyal customers [3] Company Strategy - The tiered loyalty program will be reintroduced on March 10, featuring three levels to better reward frequent customers [4] - The company aims to balance enticing rewards for members while maintaining profit margins [3] - Executives are sharing plans to drive future sales growth and profitability, emphasizing the importance of the loyalty program [1]