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Dutch Bros opens in Southern California
(Paul Bersebach/Getty Images)

America’s fast-food scene had some big winners, and even bigger losers, in Q2 2025

Taco Bell is beating Chipotle, Dutch Bros is crushing Starbucks, and the chicken wars are fiercer than ever.

Much was made of America’s inflation-weary fast-food consumers becoming more price conscious over the last few years.

Now, with Q2 in the rearview mirror, we can ask: which fast-food chains are winning in America?

Let’s start with the biggest in the game. McDonald’s actually had a great quarter, with the Golden Arches posting year-on-year same-store sales growth of 2.5% in the US, digging the Big Mac maker out of a hole after a lackluster year of declines. That was significant considering that the company’s execs characterized the quarter as “challenging,” as visits across the industry by low-income consumers declined by “double-digit” percentages.

Value option Taco Bell put up even better numbers, with same-store sales up 4% — crushing Chipotle in the Mexican-inspired scene as its more expensive competitor struggles to lure customers back for burritos and bowls, with same-store sales dropping 4% year on year.

Fast food growth
Sherwood News

Topping the list, however, was coffee chain Dutch Bros, where same-store sales rose 6.1% — perhaps benefiting from the difficulties at coffee giant Starbucks, which continues to invest heavily in a bid to reinvigorate the “coffeehouse experience.”

Elsewhere, with consumers’ love for chicken inspiring an entire generation of entrepreneurs to enter the chicken wars, the competition in all things wings has never been more intense — and it seems to be weighing on Yum! Brands’ KFC, where sales dropped 5%. But no company had a worse quarter than fast-casual salad chain Sweetgreen, where revenue resembled spinach being cooked: store sales shrunk a whopping 7.6% in the latest quarter.

Related reading: Battle of the sad desk lunches: Both Cava and Sweetgreen want to become the next Chipotle

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Elon Musk at Donald Trump Rally At Madison Square Garden In NYC

The Tesla directors who just proposed giving Elon Musk a trillion dollars say it’s “critical” he stay out of politics

Even still, the company doesn’t appear to be putting up hard guardrails for Musk’s political ambitions.

$1T

Tesla jumped more than 2% premarket on Friday after the company proposed an unprecedented roughly $1 trillion pay package for CEO Elon Musk, according to proxy filings.

To receive the massive payout, Musk will have to increase the company’s market cap to $8.5 trillion from the approximately $1 trillion it is today over the next 10 years.

The pay package also requires that Musk expand Tesla’s product offerings to include 1 million Robotaxis in commercial operation and the “delivery of 1 million AI Bots.” Currently the company has about 30 autonomous robotaxis in its invite-only Austin ride-hailing service, though this week the company expanded the waitlist for the service to everyone. Tesla's Optimus robots are still under development.

Musk would also have to take part in his own succession planning and develop a framework for who’s to follow him.

Investors have historically tied the fate of Tesla with Musk, so holding on to him for an extended period of time and having his blessing for the succession plan is typically seen as good news for the stock.

“We believe that Elon’s singular vision is vital to navigating this critical inflection point,” the filing reads. “Simply put, retaining and incentivizing Elon is fundamental to Tesla achieving these goals and becoming the most valuable company in history.”

A judge twice struck down Musk’s previous $56 billion compensation package. Last month the board approved a $30 billion interim pay package, saying that “retaining Elon is more important than ever.”

Shareholders will vote on the pay package at their annual meeting on November 6.

Old Navy store on 34th street in New York City, U.S.

Gap pops as the denim giant takes a big swing into beauty and accessories

The retailer is piloting beauty through shop-in-shops at Old Navy before rolling it out to Gap stores next year.

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