From CNBC: 2024-04-10 07:00:01

The fastest-growing retail brands in the U.S. in 2023 included familiar restaurant chains owned by publicly traded companies, making up half of the top 10 list, according to a Yelp report. Chains like Jack in the Box, First Watch, and Dutch Bros were among those highlighted.

Cava, a Mediterranean fast-casual chain that went public through an IPO in 2023, raised nearly $318 million and plans to open at least 48 new locations this year. Scooter’s Coffee, with its drive-thru-only model, experienced the largest percentage growth of any restaurant brand on Yelp’s list.

LongHorn Steakhouse, part of Darden Restaurants, has consistently outperformed the industry average since the pandemic began. The Habit Burger Grill, owned by Yum Brands, has significantly increased its number of locations since being acquired in 2020.

Wawa, known for its convenience stores and gas stations, has been expanding its reach into new markets and adding drive-thru locations. Popeyes Louisiana Kitchen, thanks to its popular chicken sandwich, surpassed KFC in 2023 as the second-most popular chicken chain in the U.S.

Freddy’s Frozen Custard & Steakburgers, acquired by a private equity firm in 2021, saw record growth in locations opened in 2023. Rally House, an apparel retailer selling team gear, has been rapidly expanding with new store openings. Olive Garden, a standout in Darden Restaurants’ portfolio, added about 20 new restaurants in 2023.

Jersey Mike’s Subs, the second-largest U.S. sandwich chain, is rapidly growing, mostly in California, Texas, and Florida. The privately owned chain is reportedly considering a sale, which could further boost its development.



Read more at CNBC: Top 10 fastest-growing retail brands in the U.S., according to Yelp