First Watch Restaurant: Q2, Traffic Issues Are Likely Temporary (Rating Upgrade)
FWRGFirst Watch Restaurant (FWRG) Seeking Alpha·2024-09-16 22:30

BartekSzewczyk/iStock via Getty Images First Watch Restaurant Group, Inc. (NASDAQ:FWRG) reported the company's Q2 results in early August, showing a considerable traffic decline amid weaker consumer traffic. First Watch also updated the company's 2024 guidance, now reflecting weaker H2 traffic as well amid challenged consumer spending. Despite the slower traffic, First Watch's overall growth story is still progressing well unless the weaker traffic becomes a long-term trend even after consumer spending reco ...