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Full-service chains like Red Lobster, TGI Fridays and others are having a hard time
Restaurants, however, were weaker. Sales fell 3.4% from December a year ago, even though transactions rose 4.1%. Full-service restaurants, including upscale and family dining locations, were the ...
The price of eating food away from home in October went up 0.4% from September and a eye-watering 5.4% compared to last year, according to the latest Consumer Price Index report.
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]
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
One idea presented in the 2010s for the supposed retail decline was a perceived ongoing "restaurant renaissance"— a shift in consumer spending habits for their disposable income from material purchases such as clothing towards dining out and travel. [3]
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 ...
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.