Credit Suisse said that "digital and delivery" will be keys for the restaurant industry going forward.

"Value creation in the sector is driven by three factors, (1) ability to leverage the box and increase in-store sales; (2) opportunity to expand global footprints; and (3) prospect for margin improvement...SBUX is one of the highest quality growth companies in restaurants, with ~8% rev growth, modest margin expansion and repurchases supporting our ~14.5% EPS growth 4-yr CAGR...SHAK's 2019 restaurant margin guidance implies 130-230bps of contraction, following 350bps of decline since 2015...Recent asset and technology investments support a more modernized MCD, and we believe the company is effectively expanding its competitive moat relative to peers..CMG has returned to a narrative of growth rather than recovery, with on-trend initiatives that well position the company to appeal to its target base and outperform peers."