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Full-service chains like Red Lobster, TGI Fridays and others are having a hard time
The US restaurant industry was projected at $899 billion (~$1.04 trillion in 2023) in sales for 2020 by the National Restaurant Association, the main trade association for the industry in the United States. [2] [3] An estimated 99 percent of companies in the industry are family-owned small businesses with fewer than 50 employees. [4]
Amid escalating operational costs and changing consumer behaviors, the U.S. restaurant industry faces unprecedented closures, with financial strain evident across famed chains and local eateries.
As of 3:15 p.m. ET, Denny's stock was down 22% and was within a few percentage points of hitting its lowest price in over a decade. The big-picture problem is that many Denny's locations aren't ...
“The U.S. restaurant industry finds itself on the menu,” he wrote in a column for the Daily Mail. Don't miss Beating the market is no myth: These expert stock-pickers' recent success could ...
Mr Kubik said: “Pressure is rising on the restaurant sector every day. More and more of them are shutting their doors as a result. “Restaurants that only just managed to survive the pandemic ...
There are more restaurants in the US than Americans actually need — and then, when they do go out, they're visiting local options instead of major chains. 3. Grocery store prices are too damn low
System-wide sales increased 27.6% Y/Y to $1.2 billion, Domestic same-store sales increased 10.1% versus last year, and Digital sales jumped to 70.3% of system-wide sales. Domestic restaurant AUVs ...