A recent Wolfe survey of over 200 industry contacts in August indicates a modest increase in optimism regarding economic performance over the next two months. However, concerns about macro volatility, gas prices, and upcoming elections remain. The survey, conducted over several days, has not yet reached pre-war levels. As tariff refunds are returned to companies, Wolfe notes increased concerns about promotional activity for Back to School and Holiday 2026. The survey also reveals more dispersion between categories and brands, with performance gaps widening between convenience stores and grocers. Notably, Burger King is extending its momentum compared to competitors WEN and MCD.
Survey Findings
According to the survey, industry contacts are cautiously optimistic about the next two months, despite ongoing macro concerns. The findings suggest a complex economic landscape, with varying performance across different categories and brands.