Franchisees had "some concern" ahead of the election because they were "worried about development," Travis explained. A number of franchisees weren't sure whether to build one store or two stores because of the uncertainty around the election.
The concern was never about sales, he noted. Franchisees "feel very good" about the company's strategy, particularly that it has moved into the beverage-to-go sector. "I have to say they are probably more excited than they've been for some time. And I think they're just delighted that the election is behind us."
Now that we're past the November 8 election, consumer data shows that people are "feeling better," Travis said. "I think a few people are out there thinking about tax cuts based on what I've been reading. So we feel good. We feel good as we go into the Holiday season."
In addition, the brand is celebrating National Espresso Day for the first time today, offering a medium hot or iced espresso beverage for $1.99, he noted. Espresso sales in the U.S. have doubled in the last five years as millennials seem to be "very much into espresso-based drinks."
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