Restaurant Sales Fall to 2nd Worst Mark in 5 Years

According to the recent Restaurant Industry Snapshot, restaurant sales have fallen to their second lowest mark in five years. What’s even worse is that overall traffic was down by 4.1 percent. Victor Fernandez, the executive director of Insights and Knowledge at TDn2K claims that some of this grim news can be attributed to Hurricanes Harvey and Irma, which affected two of the U.S.’s largest economies during the reported quarter. While sales are still declining each year, the rate at which they are falling has slowed. Because of rebuilding efforts in Texas and Florida, third and fourth quarter reports are expected to be better.

Key Takeaways:

• Weekly sales from the recent Restaurant Industry Snapshot indicated the second greatest slowdown in years.
• Catastrophic weather events have greatly affected restaurant sales, though sales are expected to improve.
• Restaurant sales should improve somewhat, though they aren’t expected to grow at an extremely high rate.

“Fine dining, which was showing positive for most of the year, has declined since August.”

Read more: https://www.qsrmagazine.com/news/restaurant-sales-fall-2nd-worst-mark-5-years