Hedgeye Podcasts Hedgeye NexGen | Episode 31 | CHICKEN WARS! (And the State of the Consumer)
Feb 20, 2026
Bennett Cheer, Hedgeye restaurants analyst who covers casual dining and operator trends, joins to break down the state of casual dining and the American consumer. They debate real wages, restaurant traffic versus sentiment, and chain strategies. The duo taste-tests ten chicken sandwiches, ranking winners and losers while linking menu moves to broader industry signals.
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Use Sauces To Encourage Trade-Up
- Drive mix by offering differentiated sauces to encourage consumers to trade up.
- Use sauce platforms to regain spending power without relying solely on price hikes.
Shake Shack's Premium Sandwich Disappoints
- Shake Shack's premium $9.49 chicken sandwich disappointed both hosts, who preferred cheaper KFC and Dave's offerings.
- They flagged concerns about quality declines and frozen-product choices under new leadership.
Dave's Excels With Focused, Consistent Execution
- Dave's Hot Chicken executes a narrow menu (tenders/sliders) with strong unit growth, consistent operations, and focused labor.
- Both hosts rated Dave's chicken the best for flavor and consistency versus larger chains.
